Get more out of life on the water
Are you interested in getting a better deal on your existing floating home loan? Discover refinancing options available to you and discover the exciting possibilities ahead.
Refinancing Process
Get Pre-Approved
Getting a home equity loan to refinance your floating home starts with getting a pre-approval. We recommend applying for the most you might need. When you’re ready to move forward we’ll sign initial documents and get started.
Inspect and Appraise
The float will be inspected to find any issues, and we’ll get an appraisal to find the value. The float inspection must pass with a minimum three rating and life expectancy of 15-20 years.
Sign Final Documents
We’ll work with you and a title company to get all the other pieces in place. Once everything’s ready, you’ll sign the final documents and we’ll be done!
Loan Options
Refinancing your home loan should be simple, that’s why we offer three refinance loan options for owner-occupied, investment, and vacation floating homes in Oregon. Financing available up to 70-80% of the value of your home.
15-Year Fixed-Rate Loan
7-Year Balloon Loan
Home Equity Line of Credit
You don’t need to choose which loan option you are applying for to start your application process. We’ll work with you to determine which is best for you.
Current Rates
|
Term |
Annual Percentage Rate |
|---|---|
|
1% loan origination fee |
|
|
15 year |
6.50% – 8.75% |
|
7 year balloon (30 year amortization) |
7.00% – 9.25% |
|
Term |
Annual Percentage Rate |
|---|---|
|
Variable rate is based on the Prime rate as published in the Wall Street Journal on the first day of the month and subject to change on the first day of the following month. 3.75% floor; 18% ceiling. Member pays third party closing costs. |
|
|
15 year amortization with 10 year draw |
9.50% - 10.00% variable |
Refinance your Floating Home
Call: 503-220-2592
Email: floatinghomes@trailheadcu.org
Send a secure message through Digital Banking.
Visit any of our branches:
Old Town: 221 NW 2nd Ave, Ste 100
Mississippi: 3904 N Mississippi Ave
Division: 3354 SE Division St