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OnPoint Community Credit Union
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OnPoint Home Equity Lending

Put your dreams within reach
 
EquityFlex Line of Credit
  • Fast and flexible way to unlock the power of your home's equity
  • Funds can be used for any number of needs from home renovation to debt consolidation
  • Low, variable rates with terms up to 20 years
  • Convert a portion of your line into a fixed-rate without reapplying
  • Fast mortgage refinancing with our Streamline First Lien Fixed Portion Option that's ideal for those who owe less than $250,000
  • Interest may be tax deductible*
Apply now!


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 Home Equity Calculator
*See your tax advisor for information
 
Home Equity Details 4/24/2014
EquityFlex Line of Credit1 EquityFlex Fixed Portion Options
Overview Ideal for ongoing purchases like home improvement projects. If you have an EquityFlex Line of Credit, you can convert a portion of your line to a fixed-rate at any time.
Rate Low, variable Low, fixed
Loan amount Determined by equity value2 Up to current credit limit; up to $250,000 for the Streamline First Lien Fixed Portion Option3
Terms N/A Up to 20 years
Fixed monthly payment No, however you may convert a portion of your line into a fixed-rate without reapplying Yes
Interest-only payment option Yes4 No
Non-owner occupied Yes Yes
Pre-payment penalty No No
Distribution of funds 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.
Annual fee $25; waived for first year No
1These loans are available for both owner occupied and non-owner occupied residences.
2Maximum line amount is $20,000 for 100% Home Equity Line of Credit. 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%.
3Home must be primary residence, and loan must be in first lien position. Maximum loan amount is $250,000. Maximum LTV is 70%.
4Interest-only payment option is not available for Non-Owner Occupied EquityFlex Line of Credit.

All OnPoint loans are subject to credit terms and approval.