OnPoint Home Equity Lending

Put your dreams within reach

Home Equity Loans

Borrow your home’s equity at a low fixed rate
Receive the entire loan amount in one lump sum
Payable in pre-determined monthly payments
Available for non-owner occupied properties

EquityFlex Line of Credit

Access whenever you need funds, up to your credit limit
Flexible payment options
Apply now, use funds when you need them

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Receive a decision in 60 seconds or less. Fast track Equity Advantage means your funds are available in as little as five business days.*

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* Funds availability assumes property meets collateral underwriting criteria.

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FAQ


Home Equity Details01-16-2009
	Home Equity Loan¹	EquityFlex^TM Line of Credit¹
What is the loan amount I may be able to apply for?	Determined by equity value	Determined by equity value
Does this loan have a fixed monthly payment?	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 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 deductible²	Yes, it may be tax deductible²
Does this loan have an interest-only payment option?	No	Yes
Does this loan have a pre-payment penalty?	No	No
Will I be charged an application fee?	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.
¹These loans are available for both owner occupied and non-owner occupied residences. ²See your tax advisor for information on possible tax deductions.

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Home Equity Loan Rates¹Rates Effective: August 11, 2009
		Maximum Repayment Period	Annual Percentage Rate with Automatic Payment	Annual Percentage Rate
80% EquityFlex ^TM Line of Credit	variable rate	-	3.25%²	3.75%²
80% EquityFlex^TM Interest Only Line of Credit	variable rate	-	3.25%²	3.75%²
100% EquityFlex^TM Line of Credit	variable rate	-	4.25%³	4.75%³
80% Home Equity Loan	fixed rate	60 months	4.99%⁴	5.49%⁴
80% Home Equity Loan	fixed rate	120 months	6.49%⁴	6.99%⁴
80% Home Equity Loan	fixed rate	180 months	6.64%⁴	7.14%⁴
80% Home Equity Loan	fixed rate	240 months	6.84%⁴	7.34%⁴
100% Home Equity Loan	fixed rate	120 months	9.24%⁴	9.74%⁴
100% Home Equity Loan	fixed rate	180 months	9.74%⁴	10.24%⁴
65% Non-Owner Occupied Home Equity Loan	fixed rate	120 months	7.74%⁴	8.24%⁴
65% Non-Owner Occupied Home Equity Loan	fixed rate	180 months	7.99%⁴	8.49%⁴
65% Non-Owner Occupied Home Equity Loan	fixed rate	240 months	7.99%⁴	8.49%⁴
65% Non-Owner Occupied EquityFlex Line of Credit	variable rate	-	4.25%³	4.75%³
65% Non-Owner Occupied EquityFlex Interest Only Line of Credit	variable rate	-	4.25%³	4.75%³
¹Maximum amount financed is determined by equity value. Upon payoff/closure, a Deed of Trust reconveyance fee will be collected. Refer to the personal fee schedule at the time of payoff/closure for current amount due. ²Automatic Payment rate is Prime. Rate without automatic payment is Prime + 0.50%. Subject to adjustment on the 21st day of each month based on Prime Rate published in the Wall Street Journal on the 10th day of the month (or on the next business day if the 10th falls on a weekend). Prime rate has been 3.25% APR since 1/12/09. The maximum rate that may apply during the line of credit is 18% APR. $25 annual fee. ³Automatic Payment rate is Prime + 1.00%. Rate without automatic payment is Prime + 1.50%. Subject to adjustment on the 21st day of each month based on Prime Rate published in the Wall Street Journal on the 10th day of the month (or on the next business day if the 10th falls on a weekend). Prime rate has been 3.25% APR since 1/12/09. The maximum rate that may apply during the line of credit is 18% APR. $25 annual fee. ⁴Rate assumes home equity loan with automatic payment from an OnPoint checking or savings account. For rate without automatic payment add 0.50%. Certain restrictions and third party costs may apply. Members must pay closing costs, which generally range between $125 - $2,500. Ask us for details. Property insurance is required. Flood insurance and appraisal may be required. You must meet OnPoint's credit and underwriting requirements. Rates subject to change.

Notes:

Automatic payments are deducted from your OnPoint checking or savings account. Rate increases if Automatic Payment not used.
With EquityFlex, you have the option of converting portions of your line of credit into a fixed rate loan.
Loan costs: Member pays loan closing costs (range of $125 - $2,500) which includes flood certification and appraisal, and title insurance and escrow fees if required. $25 annual fee for Line of Credit is waived for the first year.
Property insurance is required. Flood insurance may be required.
Must meet OnPoint's credit and underwriting requirements.

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.

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Fixed-Rate Portion EquityFlex Promotion¹Rates Effective: August 1, 2010
	Maximum Repayment Period	Annual Percentage Rate with Automatic Payment²	Annual Percentage Rate without Automatic Payment	Maximum Amount Financed
80% Fixed-Rate Portion	60 Months	2.99%	n/a	$25,000
80% Fixed-Rate Portion	120 Months	3.99%	n/a	$25,000
¹Promotional rate valid 8/1/10 through 9/30/10 and subject to change. One fixed-rate loan portion per membership at promotional rate. Promotional rate excludes existing fixed-rate portions and is not available for Non-Owner Occupied products. Promotional pricing cannot be applied to existing OnPoint debt. ²Automatic payments are deducted from your OnPoint checking or savings account.

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80% Home Equity Loan Promotional Rates¹Rates Effective: June 1, 2010
		Maximum Repayment Period	Annual Percentage Rate with Automatic Payment²
Promo - 80% Home Equity Loan	fixed rate	60 months	4.79%
Promo - 80% Home Equity Loan	fixed rate	120 months	4.79%
Promo - 80% Home Equity Loan	fixed rate	180 months	5.49%
Promo - 80% Home Equity Loan	fixed rate	240 months	5.99%
¹ Promotional 80% Home Equity Loan rates are effective 6/1/10 through 10/31/10 and subject to change. With an APR of 4.79% over 5 years, the payment would be $18.78 per month for each $1,000 borrowed. Minimum loan amount or increase to an existing loan of at least $25,000 is required to qualify for promotional rate. Promotional rates may not be applied toward conversion of a portion of an EquityFlex Line of Credit to a fixed rate loan. Upon payoff/closure, a Deed of Trust reconveyance fee will be collected. Refer to the personal fee schedule at the time of payoff/closure for current amount due. ²Rate assumes home equity loan with automatic payment from an OnPoint checking or savings account. For rate without automatic payment add 0.50%. Certain restrictions and third party costs may apply. Members must pay closing costs, which generally range between $125 - $2,500. Ask us for details. Property insurance is required. Flood insurance and appraisal may be required. You must meet OnPoint's credit and underwriting requirements.

Notes:

With EquityFlex, you have the option of converting portions of your line of credit into a fixed rate loan.
Loan costs: Member pays loan closing costs (range of $125 - $2,500) which includes flood certification and appraisal, and title insurance and escrow fees if required. $25 annual fee for Line of Credit is waived for the first year.
Property insurance is required. Flood insurance may be required.
Must meet OnPoint's credit and underwriting requirements.