Home Equity

It can happen with a HELOC

OCCU has affordable home equity lines of credit (HELOC) options for homeowners in Oregon, with rates that are lower than many other forms of credit. A HELOC leverages the value of your home as collateral for a loan and provides you with a revolving balance, just like a credit card.

With no-equity and high loan-to-value options, five- to 15-year terms and credit lines up to 95 percent of your home’s value, you can get exactly the line of credit you need.


Introductory rate

1.99% APR*


for six months, then 


then, as low as

5.75% APR**

  • Introductory rate applies to a maximum line amount of $100,000
  • Access your line of credit at any time during the 15-year draw period
  • Any balance remaining after the draw period converts into a 15-year repayment period

Rethink what’s possible with a HELOC

Many homeowners reinvest in home improvements that add further value to their property. It’s a smart move, but it’s not the only way to spend your home equity.

Since home equity lines of credit typically carry lower interest rates than many other types of financing you can use the funds strategically to make your next dream come to life. Whether it’s making home improvements, consolidating debt, paying for education or building up retirement funds, a HELOC can help make it happen.

  • Use a HELOC to:

    Consolidate your debt

    Sometimes unsecured, high-interest debts pile up. With a home equity line of credit, you may be able to restructure your debts to pay them off faster.

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  • Use a HELOC to:

    Make home improvements

    Adding a second room for a growing family is exciting as it is expensive. A home equity line of credit is ideal for funding renovations while also increasing the value of your home.

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  • Use a HELOC to:

    Invest in education

    One’s future can depend on going back to grad school or contributing to a child’s education. A home equity line of credit can help make tuition payments and unlock career opportunities.

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  • Use a HELOC to:

    Plan the perfect wedding

    The perfect wedding should be anything but ordinary. A home equity line of credit can make the moment absolutely unforgettable in a more affordable way.

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  • Use a HELOC to:

    Restore a classic car

    Everyone has a ride they’ve dreamed of owning since turning 16. Finding a good one decades later can be costly, but a home equity line of credit can fund that special vehicle purchase. 

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As a school teacher I often provide children with things that they need -- a change of clothes, a pair of shoes -- but when a student and her two brothers needed to be placed in foster care I knew my little five-seater car wouldn’t be adequate... My home equity loan allowed me to quickly purchase a bigger car and to get the other things I needed for my rapid family expansion.

Sarah M.

What's your dream?

From adopting a new child to funding your retirement plans, there are so many extraordinary ways our members use a home equity line of credit to fund their dreams. Tell us what you'd like to achieve, and we'll see if a HELOC could help you get there.

Why choose a HELOC?

OCCU has affordable HELOC options for all homeowners, with rates that are lower than many other forms of credit. OCCU HELOCs offer you high loan-to-value rates. With no-equity-required options, five- to 15-year terms, and credit lines up to 95 percent of your home’s value, you can get exactly the line of credit you need.

Learn more

How a HELOC works

A HELOC has a revolving credit limit that you can borrow against. The amount of credit you receive will depend on factors such as your credit score, your income, the value of your home and the remaining balance on your mortgage. OCCU HELOCs are available on primary residences only.

The first years of a HELOC are known as the “draw” period. During this time, your minimum monthly payments will be interest only, and you may borrow up to the full credit limit. The interest rate will vary as rates fluctuate, so your monthly payment may change over the course of the draw period. During the draw period, your payments will remain interest only. You can, however, pay off part or all of the balance during this period and then borrow it again. The draw period varies, depending on what type of HELOC you get. At OCCU, the draw period on our HELOCs ranges from five to 15 years.

At the end of the draw period, you will no longer be able to access funds from your HELOC, and the repayment period will begin. During this 10- or 15-year period, you will continue to pay the interest on your loan, but will also begin to pay on the loan balance. Your payments will be calculated so that the entire loan is repaid by the end of the period.

Not sure where to start?

We’re here to guide you down the right financial path. Contact us to learn more about your home equity options.

Home Equity Disclosures When Your Home is on the line »
Home Equity Account Disclosures »
Home Equity Line of Credit FAQ »
Rates current as of 10/1/2018. Variable rate based on prime plus margin. Margin amount depends on creditworthiness. Current APRs range from 5.75% to 11.25%. Maximum APR is 18.00%. Estimated account opening feeds $175.00 - $2,300.00; these fees vary depending on circumstances. $175 origination fee.
**Introductory Rate is for the first six billing cycles, only for credit tiers one through three, and a maximum line amount of $100,000.