Tap into the equity of your home
Choose a fixed rate home equity loan or a variable-rate home equity line of credit.
Get More Out of the Equity in Your Home
Whatever you need or want, you can use the equity in your home for anything! From renovating your home to paying off tuition, our home equity loan has you covered.
Home Equity Loan
A home equity loan is a great way to consolidate debt or pay for major expenses. A home equity loan gives you the security of fixed-rate payments on principal and interest for the life of the loan and a steady repayment schedule.
- Low fixed rates
- Terms up to 180 months
- Up to 100% loan to value
- No loan origination fee or annual fees
Equity Options Line of Credit
A home equity line of credit, also known as a HELOC, is a line of credit secured by your home that gives you a revolving credit line to use for large expenses or to consolidate higher-interest rate debt on other loans such as credit cards. With our Equity Options Line of Credit, you may draw on your variable-rate line of credit whenever you need, or lock in part (or all) of the outstanding balance at a fixed-rate and term.
- Up to 100% loan to value (restrictions apply)
- No loan origination fee or annual fees*
- 10-year draw followed by 15-year amortization
- Fix up to three segments at a fixed-rate and term
Current Rates
|
Term |
Annual Percentage Rate |
|---|---|
|
Members pays third party closing costs |
|
|
10 years |
8.625% – 9.125% |
|
15 years |
9.125% – 10.375% |
|
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. Trailhead will pay standard set up costs up to $400 including a desktop appraisal (for primary residences only). If the line is closed within 3 years, the member will be required to reimburse those costs at the time of closing. If a full appraisal or other non-standard costs are necessary, borrower will be responsible for those charges. |
|
|
15 year amortization with 10 year draw |
8.00% – 12.50% variable |
Tap into your home's equity
Visit any of our branches:
Old Town: 221 NW 2nd Ave, Ste 100
Mississippi: 3904 N Mississippi Ave
Division: 3354 SE Division St
Frequently Asked Questions
A home equity loan lets you borrow a fixed amount, secured by the equity in your home, at a fixed interest rate, and you receive the money in one lump sum. A home equity line of credit enables you to withdraw money as you need it up to a predetermined limit and repay the loan over a fixed term and typically with a variable interest rate that may increase or decrease over time.
There are several ways you can borrow from your home equity line of credit:
- Sign into Online Banking or Mobile Banking and make a transfer to your checking account
- Visit a Trailhead branch or shared branch location
- Call 503.220.2592
Your borrowing ability is determined by the equity you have in your home as well as other factors, like your credit history. Call 503.220.2592 to speak with one of our home lending specialists to determine how much you could qualify for.
You can roughly estimate your available equity by subtracting all the debts secured by your home (i.e., your mortgage and any existing home equity loans) from your home’s estimated market value. For example, if the market value of your home is $200,000 and you owe $100,000, you have $100,000 available in home equity.
The amount of home equity you can borrow against is determined by the equity in your home as well as other factors, like your credit history.
Disclosures
*Trailhead will pay standard set up costs up to $400 including a desktop appraisal (for primary residences only). If the line is closed within 3 years, the member will be required to reimburse those costs at the time of closing. If a full appraisal or other non-standard costs are necessary, borrower will be responsible for those charges. See credit union for complete details.
We cannot refinance or do equity loans on homes that are currently listed or have been listed for sale in the last 6 months.
NMLS# 477604