Discover the flexibility of our Home Equity Line of Credit
Access your home's equity to fund what matters most.
Unpack the benefits of leveraging your home's equity with ease.
Your first home improvement, a dream kitchen, or consolidating all your loans into one – what do each of these have in common? They’re all made possible by unlocking the equity in your home! Our home equity line of credit (HELOC) is one of the most effective ways to cover a big expenses. The concept is similar to a credit card, giving you ongoing access to your home’s equity (up to 75%) but with a lower rate.
Cover medical expenses, vacations, higher education, and more
Credit Lines from: $25,000 – $250,000
No application or origination fees
Competitive low interest rates
See how much you can borrow
Estimate your borrowing power and potential payments using this calculator.
View rates
Monthly Payment
I just want to say how much I appreciated NW Preferred’s help with my recent HELOC. They made the whole process so easy and uncomplicated. It’s wonderful to know they are on my side.
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1
Apply in minutes
Complete our simple applicaiton to see if you qualify.
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2
Get approved
Enjoy a quick approval process
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3
Access your funds
Draw from your line of credit whenever you need it.
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A HELOC lets you borrow against the equity in your home, giving you a flexible line of credit you can draw from as needed. It works similarly to a credit card, but typically with lower interest rates since your home serves as collateral.
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Your borrowing limit is based on several factors, including your home’s appraised value, your outstanding mortgage balance, your credit score, and your debt-to-income ratio. Most lenders allow you to borrow up to 75% of your home’s equity
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You’ll need proof of income, recent tax returns, a current mortgage statement, homeowner’s insurance documentation, and a government-issued ID. We’ll also run a credit check and may require a home appraisal.
Ready to take the next step?
Secure your financial future with our HELOC solutions. Unlock the value of your home to fund renovations, consolidate debt, or achieve your biggest goals.
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Rates and terms may vary based on a borrower’s credit qualifications. All loan rates are determined by Credit Union management and subject to change at any time. The Credit Union may offer other rates in the future. All services offered by the Credit Union shall be subject to applicable laws of the State of Oregon, federal laws and regulations, Credit Union bylaws and all regulations, rules and practices now or hereafter adopted by the Credit Union. All loans subject to credit approval.
No origination fee. The borrower is responsible for all third party fees — such as appraisal, title insurance, filing, flood determination and/or tax service fees if applicable.
Loan to value is subject to lien position. The maximum loan to value is 75%
The Annual Percentage Rate is variable and subject to change on the first of each month. The quoted rate is established by adding margin to the Prime rate. All HELOC loans subject to an annual fee if the loan balance is below $25,000.
Line of Credit is based on property valuation, term and total encumbrances.
Currently only available in these states: AK,AZ,CA,ID,MT,NM,NV,OR,UT,WA
We Do Business in Accordance With the Federal Fair Housing Law and the Equal Credit Opportunity Act
Rates
| Account Type | Rate | APR16 | Financing | Terms |
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Home Equity Line of Credit5,8,10,11,15
(First or Second Trust Deed) |
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Home Equity Line of Credit5,8,10,11,15
(First or Second Trust Deed) |
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f - fixed
v - variable
a - adjustable
Rates and terms may vary based on a borrower’s credit qualifications. All loan rates are determined by Credit Union management and subject to change at any time. The Credit Union may offer other rates in the future. All services offered by the Credit Union shall be subject to applicable laws of the State of Oregon, federal laws and regulations, Credit Union bylaws and all regulations, rules and practices now or hereafter adopted by the Credit Union. All loans subject to credit approval.
*The Annual Percentage Rate is variable and is figured on the following basis: The Annual Percentage Rate will be calculated on the last day of each calendar quarter. The Credit Union starts by calculating the index, which is the average auction rate on 26-week U.S. Treasury Bills for the prior 3 months, rounded up to the nearest ÂĽ%. The Credit Union adds a margin to the index. The amount of the margin is based on your credit profile and other factors the Credit Union deems appropriate. The margin for your account will be disclosed in a document provided when your account is opened. The total of the index plus the amount the Credit Union adds is the Annual Percentage Rate. The Annual Percentage Rate is divided by 12 to produce the monthly Periodic Rate. The adjustment of the Annual Percentage Rate affects your entire outstanding balance and is effective for the second full statement cycle following the calculation date. The minimum Annual Percentage Rate on your account is 8.75%. We will review your credit profile from time to time and may adjust the amount of the margin (and the resulting Periodic Rate and Annual Percentage Rate) based on your credit profile.
5 Origination fees applicable: Home Equity Line of Credit - no fee, Home Equity Loan $500 and ARM $1,500. The borrower is responsible for all third party fees — such as appraisal, title insurance, filing, flood determination and/or tax service fees if applicable.
8 Home Equity Loan minimum amount is $50,000, maximum amount is $250,000. Home Equity Line of Credit minimum amount is $25,000, maximum amount is $250,000.
10 The Annual Percentage Rate is variable and subject to change on the first of each month. The quoted rate is established by adding margin to the Prime rate. All HELOC loans subject to an annual fee if the loan balance is below $25,000.
11 Line of Credit is based on property valuation, term and total encumbrances.
15 Currently only available in these states: AK,AZ,CA,ID,MT,NM,NV,OR,UT,WA
16 The APR is based on a loan amount of $160,000 and includes applicable origination fees.
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