Home Equity Line of Credit

While we always have great rates on our entire collection of loans, a home equity line of credit may be a great way to access the value you have built up in your home.

To begin this route, first use our home loan calculator to see how much equity you have and how much you could potentially borrow.

What Is a Home Equity Line of Credit (HELOC)?

A home equity line of credit (HELOC) is like a credit card, where you have a balance that you can use. As you pay off what you borrow, you can access those funds again. And HELOCs have a different fee and interest rate structure than a home equity loan.

The equity in your home is the difference between the amount your house is worth and the amount you still owe on the house.

Our HELOC Features

  • Flexible borrowing power
  • Instant cash advance and with no minimum
  • No cash advance fee
  • Property must be owner-occupied
  • Loan to value up to 80%
  • Competitive fixed and variable interest rate
  • Access as frequently as you wish
  • 120-month advance period
  • 180-month repayment period
  • A $50 annual fee will be assessed on the first business day of each year.

*Annual percentage Rate (APR) ranges from 3.00% - 6.75%. All rates subject to credit qualifications. Rates current as of 4/1/2020 and are subject to change. $500 credit must be applied to credit union or third party fees. Estimated aggregate credit union and third party fees of $543 - $2774 at time of closing. Credit Union membership required.

Frequently Asked Questions

A: We currently do not offer the option to make your loan payment online with a debit card. You may mail us a check, send us a payment from your other financial institution through their bill pay service (if available), contact us to set up automatic ACH payments or come into a branch and pay with cash, check, or debit card. If you come in to pay with a debit card, it will be processed as a cash advance. You can make a payment over the phone with a check or debit card, however there is a fee for that service.
A: Yes, you may make your loan payment online from your Central Willamette account(s) by logging into Online Banking and clicking on Funds Transfer.
A: Yes, at Central Willamette we understand that it may be convenient to skip a payment on your loan(s) from time to time. We are pleased to be able to offer a skip payment program that allows you to do just that. To apply for a skip payment, simply complete the skip payment form and either mail it to us or drop it off at one of our branch locations. The form must be completed, signed by all borrowers/signers and returned to Central Willamette 5 days prior to the due date for your skip payment request to be considered. You will be charged a skip payment fee for each loan. This offer is not available on Payday, Real Estate, Personal Line of Credit, Home Equity Line of Credit, and Business Loan payments. Loans must be current and have no delinquent history in the last 12 months. Interest will continue to accrue on your loan(s) when you skip a payment. Maximum skip payments allowed are 2 within 365 days.

Get Started Today

These great rates won’t last forever, so come by and see how we can help you make the most of the equity you have in your house.

Choose one of these options to get started:

Apply OnlineVisit a BranchContact Us