Put your dreams within reach
When you tap into the value of your home by applying for a home equity loan or line of credit, you open up a whole world of possibilities — without having to make a major dent in your budget and hard-earned savings. And the interest you pay may be tax deductible, consult your tax advisor for full details.
Applying is easy and convenient. We offer loans by phone or online — 24 hours a day, 365 days a year. Apply online and receive a loan decision in 60 seconds or less. Or apply by phone, call toll free 1.877.464.7828.
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EquityFlex Line of Credit |
Home Equity Loans
Convertible Home Equity Loan |
Fast Track Equity Advantage
Non-Owner Occupied Home Equity Loans |
Non-Owner Occupied Line of Credit
Don't give up a good thing.
Keep your Home Equity Loan or Line of Credit, even if you refinance your first mortgage.
Thinking of refinancing? Our free loan subordination service could mean big savings. At OnPoint Community Credit Union, all our home equity loans and lines feature a free loan subordination option. If you ever refinance your first mortgage, you may not have to close your OnPoint Home Equity Loan or Line of Credit. (Ask your Member Relationship Officer for details.)
Why change if you don't have to?
- Keep your low, OnPoint rate
- Avoid unnecessary new closing costs
- Avoid the possibility of additional title insurance or escrow fees
- Avoid any possible early closure penalties
We make it simple and easy.
Loan subordination service is a free service of OnPoint. If you're refinancing your home or have questions about loan subordination, call Member Services at 503.228.7077 or toll-free at 800.527.3932 (M-F 7:00 a.m. – 7:00 p.m.), or visit any branch.
EquityFlex™ Line of Credit
OnPoint’s EquityFlex™ Line of Credit is ideal for a series of purchases, like home improvement projects. You can borrow as often as you like, up to your approved limit. You apply just once. As you pay down the balance, the money becomes available again. Your EquityFlex Line of Credit also has flexible payment options, as low as interest-only* and up to 100% loan-to-value may be available. And when you want the security of fixed payments, you simply convert a portion of your line into a fixed rate loan, without reapplying. With OnPoint's EquityFlex Line of Credit you can get your cash in as little as five business days** with the Fast Track Equity Advantage. Your EquityFlex Line of Credit can also be used for Overdraft Protection.
Check out our low rates.
Non-Owner Occupied EquityFlex™ Line of Credit
OnPoint's Non-Owner Occupied Line of Credit allows you the ultimate in flexibility using the equity in your rental property or second home. You can borrow as often as you like, up to your approved limit. As you pay down your balance, the money becomes available again. Your Non-Owner Occupied EquityFlex Line of Credit also has flexible payment options, as low as interest only. And when you want the security of fixed payments, you simply convert any portion of your line into a fixed rate loan, without reapplying. With OnPoint's Non-Owner Occupied EquityFlex Line of Credit, you can get your cash in as little as five business days** with the Fast Track Equity Advantage. Non-Owner Occupied EquityFlex Line of Credit can also be used for Overdraft protection.
Check out our low rates
Home Equity Loans
With a home equity loan, you'll receive the entire loan amount in one lump sum and make monthly payments over the life of the loan. You may borrow your home's equity at a low fixed rate. Depending on your circumstances, it can make sense for you to refinance your existing mortgage with a OnPoint Home Equity Loan. With our fixed-rate, 15-year Home Equity Loan, you may save thousands of dollars in interest payments and closing costs and pay off your 30-year mortgage in half the time.
Non-Owner Occupied Home Equity Loan
Unlock the equity in your rental property or second home with OnPoint's Non-Owner Occupied Home Equity Loan. You'll receive the entire loan amount in one lump sum and make monthly payments over the life of the loan - up to 20 years!
Check out our low rates
Convertible Home Equity Loan
A Convertible Home Equity Loan from OnPoint lets you unlock the equity in your home to lower your car payment and streamline your monthly debt. With a low rate and no annual fee, this loan is a great way to save big. Plus, the interest may be tax deductible. To get this special loan, you must convert an existing auto loan from OnPoint or any other financial institution.
Automatic Payment Discount
Sign up for automatic payment when you apply for a new home equity loan or revolving home equity line of credit and you'll receive a .50% discount. You can have payments deducted from an OnPoint checking or savings account.
Fast Track Equity Advantage: Your fast track to big cash.
If you think getting a Home Equity Line of Credit could take weeks, think again! With the Fast Track Equity Advantage from OnPoint, you're as little as a week* away from the cash you need for home remodeling, paying college tuition, a new car or almost anything you can imagine.
- Get a loan decision in minutes
- Get your cash in as little as five business days*
- Interest may be tax deductible (consult your tax advisor)
With an EquityFlex Line of Credit you only need to apply once and can use funds anytime you need them. With funding in as little as a week*, there's no faster way to tap into your home's equity.
To make the process easier we have provided a checklist of the documents needed:
- A copy of your paycheck stub, unless you have Direct Deposit into your OnPoint account
- If you are self-employed, copies of tax returns for the last two years (personal and business)
- Declaration page of homeowners insurance policy
- Current property tax statement
- Current statement of balance on mortgage(s)
To get this super-fast loan, apply online, call toll-free 1.877.464.7828
or stop by any OnPoint branch.
* Interest-only payment option available only on 80% loan-to-value. Paying a minimum monthly payment of interest only will result in a balloon payment due at maturity.
** Funds available in one week assumes property meets collateral underwriting criteria.
Home Equity Comparison
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Home Equity Loan |
Convertible Home Equity Loan |
Equity Flex™ Line of Credit |
Non-Owner Occupied Home Equity Loan |
Non-Owner Occupied EquityFlex™ Line of Credit |
What is the loan amount I may be able to apply for? |
Determined by equity value |
Determined by equity value |
Determined by equity value |
Determined by equity value |
Determined by equity value |
| Does this loan have a fixed monthly payment?
|
Yes |
Yes |
No, however you may convert a portion of your line into a fixed rate loan without reapplying. |
Yes |
No, however you may convert a portion of your line into a fixed rate loan without reapplying. |
| How will the funds be distributed and how can I access my funds?
|
Funds will be distributed by check or transferred into the account of your choice. You may access your funds with Telephone Teller, Online Banking, or stop by any OnPoint branch.
|
Funds will be distributed by check or transferred into the account of your choice. You may access your funds with Telephone Teller, Online Banking, or stop by any OnPoint branch.
|
Funds are distributed as you request them, up to your approved limit. You may access funds with Convenience Checks, Telephone Teller, Online Banking, or stop by any OnPoint branch.
|
Funds will be distributed by check or transferred into the account of your choice. You may access your funds with Telephone Teller, Online Banking, or stop by any OnPoint branch. |
Funds are distributed as you request them, up to your approved limit. You may access funds with Convenience Checks, Telephone Teller, Online Banking, or stop by any OnPoint branch. |
| Will the interest be tax deductible on this loan? |
Yes, it may be tax deductible* |
Yes, it may be tax deductible* |
Yes, it may be tax deductible* |
Yes, it may be tax deductible* |
Yes, it may be tax deductible* |
| Does this loan have an interest only payment option?
|
No |
No |
Available on 80% loan to Value |
No |
Yes |
| Does this loan have a pre-payment penalty?
|
No |
No |
No |
No |
No |
| Will I be charged an application fee?
|
No |
No |
No |
No |
No |
| Do I have to pay off my Home Equity Loan or Line if I refinance my first mortgage? |
No, ask your loan officer for details |
No, ask your loan officer for details |
No, ask your loan officer for details |
No, ask your loan officer for details |
No, ask your loan officer for details |
*Contact your tax advisor for more details
|
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