Use Your Home Equity
Finance your new project, take a vacation, or consolidate debt.
Put Your Home’s Equity To Work for You
Whether you’re looking to borrow for home improvements or consolidate other debts to save money, Seattle Credit Union’s home equity loans and home equity lines of credit (HELOCs) are some of the best in Seattle.
Home Equity Loan Options
Lump-Sum, Fixed Rate Home Equity Loans
A fixed-rate home equity loan is a great choice if you need the entire amount at one time and you know exactly how much you need to borrow.
Our Lump-Sum, Fixed Rate Home Equity Loans advance all of the money at loan funding and you pay the money back over the established term of the loan, up to 20 years.
- Competitive, fixed rates help you budget monthly payments with ease.
- Lump sum funding for those pre-determined expenses.
- Set payment terms to align the payment and term options to your journey.
- Low fees and closing costs keep more in your pocket.
Home Equity Line Of Credit (HELOC)
A HELOC can be useful if you expect to have expenses over time, such as payments to contractors as they finish their part of a job, unexpected seasonal expenses, or ongoing upgrades and repairs. A HELOC allows you to advance money, up to the credit limit, at any time and you only make payments when you have an outstanding balance.
- HELOCs have a ten-year draw period.
- Revolving line of credit so you can make advances as you need
- Easily advance funds by transferring money from your HELOC to a Seattle Credit Union checking account.
- After the initial ten-year period ends any outstanding balance converts into a fixed-rate, fixed-term loan, and you pay the remaining balance over the next 10 years.
Why Seattle Credit Union
As a not-for-profit, full-service mortgage lender, we’re able to offer a complete range of mortgage products at competitive rates and without many of the “gotcha” fees you may find at other banks.
No Minimum Credit Score Requirement
We don’t require a minimum credit score unless over 85% LTV for Fixed Home Equity Loans or over 75% LTV for HELOCs.
Unique Options
Unlike many other lenders, we offer non-owner occupied equity loans and manufactured home equity loans.
Borrow up to 95%
Borrow up to 95% of the value of your home (minus any other amounts you owe on your home).
Local Decisioning
Our home loan team provides expert loan options and local decisioning.
Green Loan Discounts
Get a 0.25% interest rate discount on loans for qualifying, energy-saving home improvements. Ask for details.
Start Leveraging Your Home Equity
What Our Members Say
We really appreciated the great experience you provided for our mortgage loan. Your communications were timely. You led us through the process step by step. And you were so fast in getting the process completed! It was…Joel K.
Home Equity Payment Calculator
Question About Home Loans?
Whether you’re buying your first home or refinancing the one you love, we’re here to help you put down roots. Share your info below and we’ll be in touch to answer any questions you may have. Please do not include any sensitive information, such as member numbers, account information, or Social Security numbers.