What can a HELOC do for you?
The value of a HELOC.
Use it your way!
Funds can be used for almost any purpose.
Flexible financing.
Only pay interest on what you use.
Easily access your funds.
Manage your HELOC through Digital Banking on your phone or by visiting a local branch.
Find the right OnPoint HELOC for you.
OnPoint offers several options for using your home’s equity, including options to make interest-only minimum payments during the draw period or to fix the interest rate on a portion of your HELOC balance―most HELOCs have a variable interest rate.
Type | Maximum Loan-to-Value1 | Available Terms | Annual Percentage Rate2 (APR) | Estimated Minimum Monthly Payment |
|---|---|---|---|---|
Rates Effective: 06-06-2025 Learn more about home equity lines of creditEquityFlex 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 OnPoint Rewards Discount. Borrowers who are eligible for OnPoint 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 OnPoint 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. | ||||
Type 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) 7.50% - 8.00% | Estimated Minimum Monthly Payment 1.5% of outstanding balance or $25, whichever is greater3 |
Type EquityFlexTM Line of Credit | Maximum Loan-to-Value1 80.01% - 100% LTV | Available Terms 10-year draw period, 20-year amortization period | Annual Percentage Rate2 (APR) 9.50% - 10.00% | Estimated Minimum Monthly Payment 1.5% of outstanding balance or $25, whichever is greater3 |
Type 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) 7.50 - 8.00% Variable APR | Estimated Minimum Monthly Payment Accrued interest on balance owed or $25, which ever is greater3 |
Type 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% | Estimated Minimum Monthly Payment $ 329.45 based on a 15-year, $35,000 loan at 7.75% APR |
Type EquityFlexTM Fixed Portion Option6 | Maximum Loan-to-Value1 80.01% - 100% LTV | Available Terms 10 - 15 years4 | Annual Percentage Rate2 (APR) 10.50% - 10.75% | Estimated Minimum Monthly Payment $ 224.19 based on a 15-year, $20,000 loan at 10.75% APR |
Type 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 |
Type 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) 9.75% - 10.25% | Estimated Minimum Monthly Payment 1.5% of outstanding balance or $25, whichever is greater3 |
Type 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% | Estimated Minimum Monthly Payment $376.11 based on a 15-year, $35,000 loan at 10.00% APR |
What is home equity and a HELOC?
Your home’s equity is the difference between your property’s appraised market value and whatever you owe on a mortgage or other liens. A HELOC can be financed up to the determined equity value of your home1. The amount can be impacted by your residency―you can qualify for a higher loan-to-value ratio if the property is your primary residence as opposed to a property that is not owner-occupied, such as an investment property.
Do more with an OnPoint Home Equity Line of Credit.
A HELOC is a flexible borrowing option to build the future you want today. By tapping into your home’s value, a HELOC leverages your home equity to help you move forward with confidence on big financial decisions.
Home renovations
Our low rates provide affordable financing for a kitchen remodel, new flooring throughout, an energy-efficient HVAC system, a new water heater, or all of the above and more.
Large purchases
The “use it as you need it” flexibility lets you pay for college tuition, pay off private student loans, or provide on-demand funds for life’s big moments, such as a wedding, expanding a business, and more.
Debt consolidation
Combine high-interest debts into one manageable payment with a low rate. A HELOC can help you simplify your finances and save on interest over time.
Travel and experiences
Funds available when you need them—from bucket-list vacations to once-in-a-lifetime celebrations, a HELOC helps make it happen. Start making more memories today.
Unexpected expenses
Be ready for the unexpected with a financial cushion you can tap into anytime. Gain peace of mind for emergencies, repairs, or anything life throws your way.
Is it right for me? Lines of Credit vs Loans.
When home equity is discussed, you’ll generally hear about two broad categories of loan options: Home Equity Lines of Credit (HELOCs) or Home Equity Loans.
Home Equity Line of Credit
A Home Equity Line of Credit is a revolving line of credit, usually with a variable interest rate.
- You borrow funds from the line of credit when you need them during an initial ‘draw’ period, making minimum payments each month to stay current, but with no requirement to pay off the balance in full.
- The draw period is followed by a repayment period in which you no longer access additional funds and focus on paying off any remaining balance.
- OnPoint’s EquityFlex™Line of Credit options offer 10-year draw periods with 20-year repayment periods.
A HELOC’s flexibility of borrowing funds only if and when you need them can save you interest in the long run.
Home Equity Loan
A Home Equity Loan is a fixed-rate loan where the funds are disbursed upfront in one lump sum.
- A Home Equity Loan makes sense if you need the full amount of the loan all at once, such as a cash-out loan to pay off debt, or to cover an unexpected expense such as a home repair.
- OnPoint does not currently offer a standard Home Equity Loan, but the EquityFlex™ Line of Credit products give you the option to convert a portion (or all) of the balance on your line of credit to a fixed-rate loan with set payment terms for anywhere from 5-20 years, depending on your LTV (Loan to Value) ratio.
A Home Equity Loan’s fixed interest rate protects you from the risk of higher monthly payments down the road if interest rates rise.
Disclosures
All OnPoint loans are subject to credit terms and approval.
*APR=Annual percentage rate.
