heloc-man and son working on a home improvement project together

Home equity line of credit—HELOC

Building the life you've dreamed about using your home's equity.

Exploring HELOC options with OnPoint

Get the options and flexibility you need when it comes to updating, adding onto, or refinancing your home with OnPoint Home Equity Financing. Available as a “use it when you need it” line of credit or a fixed-rate option, you can use your funds for almost anything.

Achieve more with an EquityFlexTM line of credit

A HELOC can help you achieve your goals and improve your cash flow. With a HELOC, you can use the equity you’ve built in your home to consolidate debt, make home improvements, pay for college tuition, start a small business and more.

Apply for a HELOC online

How can I use a HELOC?

  • Home renovation or upgrades
  • Prepare a home for sale or add accessibility
  • Repay student loans or pay off medical debt
  • Consolidate high-interest loans or credit cards
  • Pay for a wedding, trip, or large expense
  • Finance a new business
  • Emergencies and more

What you need to know about EquityFlex

  • Best for:

    Best for:

  • How it works

    How it works

  • Prerequisites

    Prerequisites

  • Accessing funds

    Accessing funds

  • Borrowing amount

    Borrowing amount

  • Annual fee

    Annual fee

  • No prepayment penalty

    No prepayment penalty

  • Non-owner occupied

    Non-owner occupied

  • Fixed payment terms up to 20 years

    Fixed payment terms up to 20 years

  • Discounted rate when in first lien position

    Discounted rate when in first lien position

EquityFlex™ line of credit

  • Best for:

    Putting the equity that you’ve built in your home to work for whatever you need, whenever you need it.

  • How it works

    This is the flexible line of credit that’s there when you need it. Funds can be used for almost any purpose. Best of all, you’ll only pay interest on what you use.

  • Prerequisites

    None

  • Accessing funds

    Funds are distributed as you request them, up to your approved limit. You may access funds with Digital Banking, Telephone Teller or by visiting any branch.

  • Borrowing amount

    This line may be financed up to the determined equity value of your home.1

  • Annual fee

    $75 (waived first year)

  • No prepayment penalty

  • Non-owner occupied

  • Fixed payment terms up to 20 years

  • Discounted rate when in first lien position

EquityFlex™ fixed portion options

  • Best for:

    Tapping into your home’s equity for a lump sum loan to use for home improvements, unexpected expenses and more.

  • How it works

    Convert a portion (or all) of your line into a fixed-rate loan. You’ll have the security of a rate that’s locked, with set terms for repayment.

  • Prerequisites

    Have an existing OnPoint EquityFlex line of credit.

  • Accessing funds

    Funds are distributed by check or transferred into the account of your choice. You may access funds with digital banking  telephone teller or by visiting any branch.

  • Borrowing amount

    Up to the current credit limit.

  • Annual fee

    $0

  • No prepayment penalty

  • Non-owner occupied

  • Fixed payment terms up to 20 years

  • Discounted rate when in first lien position

Rates

Home Equity Options
Home Equity Options

Maximum Loan-to-Value1

Available Terms

Annual Percentage Rate2 (APR)

Estimated Minimum Monthly Payment

Rates Effective: 03-18-2024

Learn more about home equity lines of credit

EquityFlex Lines of Credit have a maximum 30-year term with a 10-year draw period and a 20-year repayment period. All EquityFlex Lines of Credit include a $75 Annual Fee during the draw period, which is waived the first year. There is no Annual Fee during the repayment period. Property insurance is always required and flood insurance is required where necessary. Certain property types are not eligible collateral. Borrower pays closing costs and third party fees, which range between $125 -$2500 (estimate). This includes flood certification, appraisal, title insurance, lien and encumbrance report, lien recording fee, and escrow fees if required. Upon payoff/closure, there will be a Deed of Trust reconveyance fee. Please refer to the Personal Fee Schedule at the time of payoff/closure for the current amount due.

1 Loan approval is subject to credit approval and program guidelines. Maximum loan to value, maximum amount financed, and applicable margin are subject to equity value and OnPoint’s credit and underwriting requirements. Maximum amount for fixed portions are determined by the EquityFlex Line of Credit limit. For EquityFlex Line of Credit with LTV over 80%, the amount financed may not exceed $50,000. For EquityFlex Interest Only Line of Credit, the amount financed may not exceed $150,000.

2 EquityFlex Line of Credit rates are variable and based on The Wall Street Journal Prime Rate plus a margin of 0% – 2.75%, depending on occupancy, LTV, and creditworthiness. The APR will vary with the Prime Rate. Rates are subject to change without notice. The Prime Rate is subject to adjustment on the 21st day of each month based on the Prime Rate published in The Wall Street Journal on the 10th day of the month (or the next business day if the 10th falls on a weekend).

3 Estimated minimum monthly payment is for the draw period only. The repayment period is subject to change.

4Not to exceed 30 years from the origination date of EquityFlex Line of Credit.

5 OnPoint’s fixed rates are subject to change without notice.

6 You may convert all or a portion of your outstanding variable-rate EquityFlex Line of Credit balance to a fixed rate balance resulting in
fixed monthly payments at a fixed interest rate. The APR will be set equal to the standard EquityFlex Fixed Portion rate at the time of
conversion. The fixed portion amount must be at least $5,000 and no more than the total existing line of credit limit. There is no fee to
convert a line of credit to a fixed portion or to convert a fixed portion back to a line of credit.

Bundle Rewards Discount. Borrowers who are eligible for Bundle rewards receive 0.25% off of the APR (Annual Percentage Rate) for fixed rate portions of EquityFlex loans when converted. The discount does not apply to the variable APR. Setting up and maintaining auto payment from an OnPoint Checking or Savings account is required. Additional products and services are required to qualify for Bundle Rewards. Please see an OnPoint representative for more information or click here.

Solar Panel Discount. Fixed Portion Options with proceeds used to purchase solar panels receive a 0.25% discount off stated APR. The discount does not apply to Streamline First Lien Fixed Portion Option or existing OnPoint EquityFlex fixed portions. A review of the purchase order or invoice is required to qualify. The discount applies to invoice/purchase order amount, not to exceed $12,000.

EquityFlexTM Line of Credit

Maximum Loan-to-Value1

Up to 80% LTV

Available Terms

10-year draw period, 20-year amortization period

Annual Percentage Rate2 (APR)

8.50% - 9.00%
Variable APR

Estimated Minimum Monthly Payment

1.5% of outstanding balance or $25, whichever is greater3

Maximum Loan-to-Value1

80.01% - 100% LTV

Available Terms

10-year draw period, 20-year amortization period

Annual Percentage Rate2 (APR)

10.50% - 11.00%
Variable APR

Estimated Minimum Monthly Payment

1.5% of outstanding balance or $25, whichever is greater3

EquityFlexTM Interest Only Line of Credit

Maximum Loan-to-Value1

Up to 80% LTV

Available Terms

10-year draw period, 20-year amortization period

Annual Percentage Rate2 (APR)

8.50% - 9.00%

Variable APR

Estimated Minimum Monthly Payment

Accrued interest on balance owed or $25, which ever is greater3

EquityFlexTM Fixed Portion Option6

Maximum Loan-to-Value1

Up to 80% LTV

Available Terms

5 - 20 years4

Annual Percentage Rate2 (APR)

7.25% - 8.00%
Fixed APR5

Estimated Minimum Monthly Payment

$ 329.45 based on a 15-year, $35,000 loan at 7.75% APR

Maximum Loan-to-Value1

80.01% - 100% LTV

Available Terms

10 - 15 years4

Annual Percentage Rate2 (APR)

10.50% - 10.75%
Fixed APR5

Estimated Minimum Monthly Payment

$ 224.19 based on a 15-year, $20,000 loan at 10.75% APR

EquityFlexTM Fixed Portion Option - in first lien position6

Maximum Loan-to-Value1

Up to 80% LTV

Available Terms

5 - 20 years4

Annual Percentage Rate2 (APR)

6.25% - 7.00% Fixed APR5

Estimated Minimum Monthly Payment

$ 309.72 based on a 15-year, $35,000 loan at 6.75% APR

Non-Owner Occupied EquityFlexTM Line of Credit

Maximum Loan-to-Value1

Up to 65% LTV

Available Terms

10-year draw period, 20-year amortization period

Annual Percentage Rate2 (APR)

10.75% - 11.25%
Variable APR2

Estimated Minimum Monthly Payment

1.5% of outstanding balance or $25, whichever is greater3

Non-Owner Occupied Fixed Portion Option6

Maximum Loan-to-Value1

Up to 65% LTV

Available Terms

10 - 20 years4

Annual Percentage Rate2 (APR)

9.75% - 10.25%
Fixed APR5

Estimated Minimum Monthly Payment

$376.11 based on a 15-year, $35,000 loan at 10.00% APR

Discounts, fees and more.

At OnPoint, we offer excellent terms on our HELOC loan products. If you need home equity to fund your home repair, home improvement or other large or unexpected expense, then our team can help you get started with a credit line.

What costs come with a HELOC?

In addition to interest accrued over the term of your loan, when closing your HELOC there will be upfront closing costs on the loan. Closing costs are a percentage of your overall loan amount but typically lower than your primary mortgage and the fees may be rolled into your credit line.

Get more info about a HELOC
row of homes on sunny street with blue sky

Home Equity Solar Panel Discount

Save money while saving energy. An EquityFlex Line of Credit gives you the flexibility you need for just about anything. And when you fix a portion of your line of credit to purchase solar panels, receive a 0.25% discount off the EquityFlex Fixed Portion APR.2

Apply online today
Is a HELOC right for you?

Home equity FAQs

Depending on your circumstances, it can make sense for you to refinance your existing mortgage with an OnPoint EquityFlex Line of Credit. With our fixed-rate, EquityFlex Fixed Portion and First Lien options, you may save thousands of dollars in interest payments and closing costs and pay off your mortgage in half the time.
See our Home Loan Calculator, "How much equity do you have?" to get an estimate on your home equity.

The amount of equity available for a home equity loan or home equity line of credit is determined by the loan-to-value ratio of the home and the ratio requirements of the lender. A loan-to-value ratio is calculated by taking total mortgage debt (including any second mortgages or existing home equity loans) and dividing it by the current, appraised value of the home. The size of a home equity loan or line of credit will also depend on the loan-to-value requirements of the lender. Higher loan-to-value requirements can result in larger home equity loans or lines of credit.

Consider applying for an EquityFlex Line of Credit

Our EquityFlex Line of Credit puts the equity that you've built in your home to work for whatever comes your way. Funds can be used at any time and you will only pay interest on what you use! Funds will be distributed upon request and can be accessed through Digital Banking, Convenience Checks, Telephone Teller, or at any branch location.
You can use your OnPoint EquityFlex Line of Credit or Fixed Portion option for remodeling, a new car, education expenses, and almost anything else you can imagine!

Some restrictions may apply. Please consult your tax advisor on tax deductibility.

Our EquityFlex Line of Credit puts the equity that you've built in your home to work for whatever comes your way. Funds can be used at any time and you will only pay interest on what you use! Funds will be distributed upon request and can be accessed through Digital Banking, Convenience Checks, Telephone Teller, or at any OnPoint branch.
Equity is equal to Real Market Value less Amount Owed on Home. For example:

If the real market value of your home is $200,000 and the amount owed on your loan is $160,000, your total Equity is $40,000.
Members must pay closing costs, which range between $125 – $2,500 (estimate). This includes flood certification, appraisal, title insurance, and escrow fees if required. There is no application fee, and the $75 annual fee for an EquityFlex Line of Credit is waived for the first year.
Interest on your EquityFlex Line of Credit or Fixed Portion option may be tax deductible. Please consult your tax advisor for details.

Apply for an OnPoint Home Equity Line of Credit today.

Get started today.

Apply online

Apply at your local branch.

Schedule a branch appointment

Stop by an OnPoint branch.

Find a nearby location or ATM

Disclosures

  1. Maximum line amount is $50,000 for EquityFlex Line of Credit with LTV over 80%. Maximum line amount is $150,000 for 80% EquityFlex Interest Only Line of Credit. The maximum LTV for EquityFlex Lines of Credit is 100%. The maximum LTV for Non-Owner Occupied and EquityFlex Lines of Credit is 65%. Maximum loan to value and maximum amount financed are subject to equity value and OnPoint’s credit and underwriting requirements.
  2. Receive a 0.25% discount off EquityFlex Fixed Portion stated APR when proceeds are used to purchase solar panels. Review of purchase order or invoice required to qualify. Discount applies to invoice/purchase order amount, not to exceed $12,000.

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