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Home Equity Loans and Lines of Credit

Borrow up to 90% of your home's value

  • Make home improvements
  • Consolidate debt
  • Finance a large purchase

Get started Check application status

Here's what you'll need

Here's what you'll need

Mortgage, Home Equity and Equity Line of Credit

  • SSN or ITIN
  • Date of Birth
  • Address
  • Employment information and income
  • Approximate total debt

Here are some of the things we may ask for later in the process:

  • Paystubs for the last 30 days
  • 2 most recent W-2s
  • 2 most recent tax returns
  • 2 most recent bank statements
  • Homeowners insurance declarations page

For a detailed list of documentation, see our Mortgage Application Document Checklist.

Home Equity Loans and Lines of Credit

Borrow up to 90% of your home's value

  • Make home improvements
  • Consolidate debt
  • Finance a large purchase

Get started Check application status

Here's what you'll need

Here's what you'll need

Mortgage, Home Equity and Equity Line of Credit

  • SSN or ITIN
  • Date of Birth
  • Address
  • Employment information and income
  • Approximate total debt

Here are some of the things we may ask for later in the process:

  • Paystubs for the last 30 days
  • 2 most recent W-2s
  • 2 most recent tax returns
  • 2 most recent bank statements
  • Homeowners insurance declarations page

For a detailed list of documentation, see our Mortgage Application Document Checklist.

What is home equity?

It's the current value of your home minus your mortgage balance.

At a glance

6.49% - 9.50%
APR Annual Percentage Rate: The cost of the loan, including interest and fees.
90%
Max loan-to-value The highest percentage of the collateral's value that can financed.
$500,000
Max amount The highest loan amount available.
Up to 20 years
Payment period The length of time allotted to repay the loan.

Home Equity Line of Credit

A Home Equity Line of Credit (HELOC) is a revolving line of credit secured by the amount of equity you have in your home. Think of it like a credit card with a limit determined by your home’s equity (typically with a much lower rate than a credit card). There is no interest or repayment on unused funds.

  • Access to line of credit for up to 10 years‡
  • 20-year repayment period
  • Variable rates
  • Flexibility to cover for unexpected expenses

Get started Compare products

Home Equity LoanHELOC
DefinitionBorrow a lump-sum amount of money determined by the equity you have in your home.A revolving line of credit funded by the amount of equity you have in your home.
APR7.34% - 9.59%*6.49% - 9.50%*
Rate typeFixed ratesVariable rates
Max loan-to-value90%90%
Max amount$500,000$500,000
Payment periodUp to 20 years10-year draw period with 20-year repayment
AssumptionsThe information provided is based on a $75,000 home equity loan. The property is located in Olympia, Thurston County, in the State of Washington. The property is an existing single family home and will be used as a primary residence. This assumes that the total of all existing mortgages does not exceed 90% of the property value. At a 10.49% interest rate for 240 months, the estimated monthly payment would be: 239 payments of $748.28 and 1 payment of $741.80.A Prepayment fee of $350 will be charged if the loan is paid off and closed within the first 24 months. Maximum interest rate of 18%. Variable rate Home Equity Lines of Credit are calculated at the rate specified, then adjusted monthly based on the index plus a margin indicated in the Home Equity Loan Rates and Fees Addendum.

*Annual Percentage Rate. Rates are subject to change at any time.

Here's what you'll need

Here's what you'll need

Mortgage, Home Equity and Equity Line of Credit

  • SSN or ITIN
  • Date of Birth
  • Address
  • Employment information and income
  • Approximate total debt

Here are some of the things we may ask for later in the process:

  • Paystubs for the last 30 days
  • 2 most recent W-2s
  • 2 most recent tax returns
  • 2 most recent bank statements
  • Homeowners insurance declarations page

For a detailed list of documentation, see our Mortgage Application Document Checklist.

See today's Home Equity Loan rates

Combined Loan To ValueAnnual Percentage RateLoan AmountLoan Repayment
Up to 60% CLTV6.49%
$5,000 - $500,000Interest only during
10 year draw period
60.01% to 80% CLTV7.25%
$5,000 - $500,000Interest only during
10 year draw period
80.01% to 90% CLTV9.50%
$5,000 - $250,000Interest only during
10 year draw period

Additional information

  • Rates are subject to change at any time.
  • WSECU may lend on primary or secondary homes only.
  • Maximum loan amount is up to $500,000 depending on credit criteria. Loan amounts over $400,000 require full appraisal at member cost.
  • Home Equity Loans are available with 10, 15 and 20 year terms.
  • HELOCs are interest only payments during the draw period, then amortized over a 20 year repayment period at a variable rate.
  • WSECU may lend up to 90% of appraised value on a combined-loan-to-value depending on collateral, credit score, credit history, and lien position.
  • Max combined-loan-to-value for 1st lien position is 80%.
  • Max combined-loan-to-value for Stepping Stones/Bridge loans is 70%, and a fee of $750 will apply.
  • Loans may require a full appraisal at member's expense. Certain restrictions apply.
  • PRE-PAYMENT PENALTIES APPLY AS FOLLOWS: Home Equity Line of Credit - $350 will be charged if the line of credit paid off AND closed in the first 24 months. This fee will be waived on WSECU internal refinances and Stepping Stones/Bridge HELOC requests.

‡ Conditions apply

A Prepayment fee of $350 will be charged if the loan is paid off and closed within the first 24 months. Maximum interest rate of 18%. Variable rate Home Equity Lines of Credit are calculated at the rate specified, then adjusted monthly based on the index plus a margin indicated in the Home Equity Loan Rates and Fees Addendum.

At a glance

7.34% - 9.59%
APR Annual Percentage Rate: The cost of the loan, including interest and fees.
90%
Max loan-to-value The highest percentage of the collateral's value that can financed.
$500,000
Max amount The highest loan amount available.
Up to 20 years
Payment period The length of time allotted to repay the loan.

Home Equity Loan

A Home Equity Loan lets you borrow a lump-sumA large single payment that cannot be broken up into installments. amount of money determined by the equity you have in your home. Benefits include set monthly payments and a fixed interest rate.

How can you use a home equity loan? Use your loan however you choose. Common uses include remodeling and home improvements, debt consolidations, education expenses, wedding celebrations, vehicle purchases and more.

  • No early repayment fees
  • Fixed rates†
  • Fixed monthly payments

Get started Compare products

Home Equity LoanHELOC
DefinitionBorrow a lump-sum amount of money determined by the equity you have in your home.A revolving line of credit funded by the amount of equity you have in your home.
APR7.34% - 9.59%*6.49% - 9.50%*
Rate typeFixed ratesVariable rates
Max loan-to-value90%90%
Max amount$500,000$500,000
Payment periodUp to 20 years10-year draw period with 20-year repayment
AssumptionsThe information provided is based on a $75,000 home equity loan. The property is located in Olympia, Thurston County, in the State of Washington. The property is an existing single family home and will be used as a primary residence. This assumes that the total of all existing mortgages does not exceed 90% of the property value. At a 10.49% interest rate for 240 months, the estimated monthly payment would be: 239 payments of $748.28 and 1 payment of $741.80.A Prepayment fee of $350 will be charged if the loan is paid off and closed within the first 24 months. Maximum interest rate of 18%. Variable rate Home Equity Lines of Credit are calculated at the rate specified, then adjusted monthly based on the index plus a margin indicated in the Home Equity Loan Rates and Fees Addendum.

*Annual Percentage Rate. Rates are subject to change at any time.

Here's what you'll need

Here's what you'll need

Mortgage, Home Equity and Equity Line of Credit

  • SSN or ITIN
  • Date of Birth
  • Address
  • Employment information and income
  • Approximate total debt

Here are some of the things we may ask for later in the process:

  • Paystubs for the last 30 days
  • 2 most recent W-2s
  • 2 most recent tax returns
  • 2 most recent bank statements
  • Homeowners insurance declarations page

For a detailed list of documentation, see our Mortgage Application Document Checklist.

See today's Home Equity Loan rates

Up to 80% CLTV

Up to 80% CLTV
Loan RepaymentAnnual Percentage RateLoan Amount
10-year term7.34%
$5,000 - $500,000
15-year term7.35%
$5,000 - $500,000
20-year term7.59%
$5,000 - $500,000

80.01% to 90% CLTV

80.01% to 90% CLTV
Loan RepaymentAnnual Percentage RateLoan Amount
10-year term9.34%
$5,000 - $250,000
15-year term9.35%
$5,000 - $250,000
20-year term9.59%
$5,000 - $250,000

Additional information

  • Rates are subject to change at any time.
  • WSECU may lend on primary or secondary homes only.
  • Maximum loan amount is up to $500,000 depending on credit criteria. Loan amounts over $400,000 require full appraisal at member cost.
  • Home Equity Loans are available with 10, 15 and 20 year terms.
  • HELOCs are interest only payments during the draw period, then amortized over a 20 year repayment period at a variable rate.
  • WSECU may lend up to 90% of appraised value on a combined-loan-to-value depending on collateral, credit score, credit history, and lien position.
  • Max combined-loan-to-value for 1st lien position is 80%.
  • Max combined-loan-to-value for Stepping Stones/Bridge loans is 70%, and a fee of $750 will apply.
  • Loans may require a full appraisal at member's expense. Certain restrictions apply.
  • PRE-PAYMENT PENALTIES APPLY AS FOLLOWS: Home Equity Line of Credit - $350 will be charged if the line of credit paid off AND closed in the first 24 months. This fee will be waived on WSECU internal refinances and Stepping Stones/Bridge HELOC requests.

† Payment example

The information provided is based on a $75,000 home equity loan. The property is located in Olympia, Thurston County, in the State of Washington. The property is an existing single family home and will be used as a primary residence. This assumes that the total of all existing mortgages does not exceed 90% of the property value.

At a 10.49% interest rate for 240 months, the estimated monthly payment would be: 239 payments of $748.28 and 1 payment of $741.80.

Calculate your total home equity and how much you can borrow.

How much equity do you have in your home?

Find out how much you're eligible to borrow.

Get started

What is your home currently worth?

This is the appraised value of your home.

$
Enter in a dollar amount between $0 and $9,999,999
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What is your current mortgage balance?

This includes your first mortgage, and if applicable, the balance of any additional mortgages.

$
Enter in a dollar amount between $0 and $9,999,999
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Mortgage information

Current appraised value of your home
Enter a dollar amount
Total of all outstanding mortgage balances
Enter a dollar amount

WSECU has a maximum loan-to-value (LTV) of 90%.

Try another LTV
The percentage of your home's value that is available to borrow.
Enter in a percentage

Home equity breakdown

The maximum home equity loan that WSECU will grant is $500,000.

It appears you may not have any equity available. Another option is a personal line of credit.

Apply now
When using the calculator, please remember the dollar amounts displayed aren't guaranteed, and what you actually pay may be different. The estimates you receive are for illustrative and educational purposes only. The results of any loan calculator are not intended to be and should not be considered a decision of, or a commitment to, the loan type or amount for which you may qualify.

FAQ

We finance up to 90% of your home’s value (90% loan-to-value ratio). Loans are subject to credit approval, underwriting guidelines and property occupancy.

A Home Equity Loan is distributed in a lump sum, while a Home Equity Line of Credit (HELOC) works similar to a credit card. With a HELOC, you can access funds as needed for 10 years, paying interest only on what you use. A Home Equity Loan has a fixed interest rate and is helpful when you know exactly how much money you need. A HELOC gives you more flexibility to use funds when and if needed but has a variable interest rate.

There is a state-imposed foreclosure prevention fee of $80 that went into effect July 2025. Apart from that, there are typically no fees on our equity loans unless you request a full appraisal or we need to close through an escrow office to clear up an outstanding lien. All loan requests over $400,000 require a full appraisal at your cost.

There are several factors that go into determining the loan amount that we can offer. We look at available equity in your home, credit score and credit history, and debt to income ratios (monthly income versus monthly financial obligations such as your mortgage, loans or credit card payments).

Fixed-rate home equity loans are great if you want a locked-in rate and know exactly how much you want to borrow. If you prefer to make a set monthly payment and want to pay off your loan in a specific amount of time, a fixed-rate home equity loan may be a good choice. A variable-rate HELOC is great when you don’t know how much you’ll need to borrow, need access to the funds over a long period of time, or to have available for any emergencies that arise.

After you apply, we will determine the value of your home using our automated valuation model. We can lend up to 90% of your combined loan-to-value (if certain qualifications are met.) We calculate your loan-to-value ratio by taking into account the value of your home, how much you owe on your first mortgage, and how much you are looking to borrow with this new loan. If you think your home is worth more, you are welcome to request a full appraisal at your cost. The appraisal fee can be paid with loan proceeds.

It typically takes two to four weeks, depending on the type of loan and its complexity. Loan applications that require a full appraisal or outside escrow (to pay off existing liens) will require additional processing time.

Properties must be located in Washington, Oregon or Idaho.

Funds from a Home Equity Loan are deposited to your savings account. Funds from a HELOC, which is a revolving line of credit, are taken as advances as needed. There are several ways to access home equity funds through Online Banking or at a branch:

Online Banking

  • Transfers to a WSECU account or an external account
  • Check withdrawal (sent to your mailing address)
  • Biller payoff for debt consolidation. Just transfer your home equity funds to your WSECU checking account, then set up payments in Bill Pay.

In branch

  • Cashier's check
  • Wire transfer (fee applies)
  • Cash withdrawal

Wire transfers can also be requested by calling our Contact Center at 800.562.0999.

Want more information? Let's talk.

Schedule an appointment

What our members are saying

"The Home Equity team was great! They explained to me the plan, helped me get the information I needed and were always in contact with me through the whole process. At the branch, the staff were clear and we both understood what we were signing. I have been banking with WSECU for many years and appreciate their business."

Lisa
WSECU Member

Resources

5 smart ways to use home equity in 2025

What is home equity and what can it do for you?

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