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Home Equity

The financing you need is waiting for you.

Get the options and flexibility you need when it comes to updating, adding on to, 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.

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, Convenience Checks, 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

    $25 (waived first year)

  • No Prepayment Penalty

  • Non-Owner Occupied

  • Fixed payment terms up to 20 years

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  • Discounted rate when in first lien position

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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, Convenience Checks, 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-Value

Available Terms

Annual Percentage Rate1

Estimated Minimum Monthly Payment

Learn more about Home Equity Lines of Credit

All loan and line of credit rates are determined by credit union management and are subject to change at any time. 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 and lines of credit subject to credit approval. Rates are based on an evaluation of credit history and other factors specific to your loan and may be higher than the lowest rate published. On all home equity products Member pays closing costs, which range between $125 – $2500 (estimate). This includes flood certification, appraisal, title insurance, and escrow fees if required. Must meet OnPoint’s credit and underwriting requirements. 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.

1 Rates assume a 0.50% discount for automatic payment from a qualifying OnPoint account. Bundle Rewards: Receive 0.25% off consumer fixed APR (Annual Percentage Rate) loans. This offer excludes the refinance of existing OnPoint loans. 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.

2 Maximum loan to value and maximum amount financed are subject to equity value and OnPoint’s credit and underwriting requirements. Maximum amount for fixed portions are determined by the existing line of credit limit. For EquityFlex Line of Credit with LTV over 80%, amount financed not to exceed $30,000. For EquityFlex Interest Only Line of Credit, amount financed not to exceed $100,000.

3 Line of Credit rates are variable and based on the Prime Rate plus a margin of 0% – 3.50%, depending on occupancy, LTV, and credit worthiness. 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 next business day if the 10th falls on a weekend). As of 8/10/19, Prime Rate is 5.25%. The maximum rate that may apply during the line of credit is 18.00% APR. All EquityFlex Lines of Credit include $25 Annual Fee, waived the first year.

4 With EquityFlex Line of Credit, you have the option of converting portions of your line of credit into a fixed rate balance. Fixed portion rates are set equal to the standard EquityFlex Fixed Portion rate at the time of conversion. Eligibility for first lien position requires that the property does not have another first mortgage loan from any institution, including OnPoint. The fixed portion amount must be at least $5,000 and no more than the total existing line of credit limit. $25 fee to convert line of credit to fixed portion, fee waived for the first fixed portion. $50 fee to convert fixed portion back to line of credit. Receive a 0.25% discount off 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.

EquityFlex Line of Credit

Maximum Loan-To-Value

Up to 80% LTV2

Available Terms

10-year draw period

Annual Percentage Rate1

5.25% - 5.75%
Variable APR3

Estimated Minimum Monthly Payment

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

Maximum Loan-To-Value

80.01% - 100% LTV2

Available Terms

10-year draw period

Annual Percentage Rate1

7.25% - 7.75%
Variable APR3

Estimated Minimum Monthly Payment

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

EquityFlex Interest Only Line of Credit

Maximum Loan-To-Value

Up to 80% LTV

Available Terms

10-year draw period

Annual Percentage Rate1

5.25% - 5.75%
Variable APR3

Estimated Minimum Monthly Payment

Accrued interest on balance owed

EquityFlex Fixed Portion Option4

Maximum Loan-To-Value

Up to 80% LTV

Available Terms

5 - 20 years

Annual Percentage Rate1

5.15% - 8.70%
Fixed APR

Estimated Minimum Monthly Payment

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

Maximum Loan-To-Value

80.01% - 100% LTV

Available Terms

10 - 15 years

Annual Percentage Rate1

8.50% - 11.75%
Fixed APR

Estimated Minimum Monthly Payment

$217.99 based on a 15-year, $20,000 loan at 10.25% APR

EquityFlex Fixed Portion Option - in first lien position4

Maximum Loan-To-Value

Up to 80% LTV

Available Terms

5 - 20 years

Annual Percentage Rate1

3.40% - 6.95% Fixed APR

Estimated Minimum Monthly Payment

$276.78 based on a 15-year, $35,000 loan at 5.00% APR

Non-Owner Occupied EquityFlex Line of Credit

Maximum Loan-To-Value

Up to 65% LTV

Available Terms

10-year draw period

Annual Percentage Rate1

7.00% - 7.50%
Variable APR3

Estimated Minimum Monthly Payment

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

Non-Owner Occupied Fixed Portion Option4

Maximum Loan-To-Value

Up to 65% LTV

Available Terms

10 - 20 years

Annual Percentage Rate1

7.25% - 10.45%
Fixed APR

Estimated Minimum Monthly Payment

$344.66 based on a 15-year, $35,000 loan at 8.50% APR

The value in your home provides you with financial options.

Calculate how a Home Equity Line of Credit from OnPoint can best fit your needs.

Refinance your loan.

We can help you lower your monthly payments or pay off your mortgage faster.

REFINANCING OPTIONS

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Home Equity FAQs

Apply for an OnPoint Home Equity Line of Credit today.

Apply online.

Get started today

Stop by an OnPoint branch.

Find your nearest location

Stop by an OnPoint branch.

Find your nearest location

Disclosures

1 Maximum line amount is $30,000 for EquityFlex Line of Credit with LTV over 80%. Maximum line amount is $100,000 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.

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