Renting out a home? Put its value back into the property with a 10-Year Home Equity Loan.
- Draw funds at once.
- Repay funds within 10 years.
- Make fixed payments.
- Pay low fees.
- Minimum loan amount is $10,000.
A line of credit lets you borrow money as you need it. It's a great choice for expenses that happen over a period of time, like a home renovation.
Purpose | Funds can be used for anything |
Access to Money | Funds are withdrawn as needed |
Repayment | Pay on the balance owed with monthly payments fluctuating |
Interest Rate | As low as variable 8.00% APR* |
Interest Payments Are Tax Deductible | Yes, in certain cases** |
Purpose | Funds can be used for anything |
Access to Money | All funds received at once |
Repayment | Fixed monthly installments for the life of the loan |
Interest Rate | As low as 6.50% APR* |
Interest Payments Are Tax Deductible | Yes, in certain cases** |
Did you know you can refinance with a home equity loan? Refinance your home with a no-cost refinance via a 12-Year Home Equity Loan.
Have a good idea of how much you need to borrow? A home equity loan is a great option for lump expenses like booking a vacation or debt consolidation.
Renting out a home? Put its value back into the property with a 10-Year Home Equity Loan.
* APR = Annual Percentage Rate. APR is accurate as of 12/3/2024 and is subject to change after account opening. Rate based on creditworthiness and product type.
All loans subject to approval.
Home Equity Payment Example:
Monthly payment of $500.96 based on 144 month, $50,000 loan at 6.50% APR
Kitsap Credit Union membership is required. Qualified properties include owner occupied and non-owner occupied single-family homes, condominiums, and town homes, in Washington State. All loans subject to approval. The rate for which a borrower qualifies may depend upon the borrower’s credit score, term of loan, loan purpose and past credit performance. Rates, terms and conditions are subject to change and may vary based on age and condition of collateral and product selected. You may have to pay certain third parties closing costs that range between $0 -$1,500 depending on the location of the property, the amount of the loan and other factors. Monthly payments shown are principal and interest only and do not include fees or other applicable escrows. Actual payment obligation may be higher. Home Equity Lines of Credit: APR does not include additional costs and rate may vary monthly (maximum 18% APR).
** We do not provide tax advice. Please be sure to consult with a qualified tax professional to understand your specific situation and for further information regarding the deductibility of interest and charges.