Equity Loan Options

Home equity loans typically offer lower interest rates than other types of loans and the interest may be tax deductible. Be sure to talk to your tax advisor about your specific situation. Learn more about our Fixed Rate Equity Loan and our Variable Rate Home Equity Line of Credit below.

Fixed Rate Equity Loan:

This type of equity loan is perfect for someone who is interested in using the equity in their home for a specific project and would like fixed payments for the life of the loan.

Features:

  • Fixed rates, funds in one lump sum, consistent monthly payments
  • 5, 10, 15 and 20¬†year terms available
  • Up to 80% combined loan to value financing on a 1st lien and 85% on 2nd liens
  • No application or origination fees
  • No closing costs except for the cost of the appraisal and with a minimum initial loan advance of $20,000 and may not be paid off in less than 36 months or fees must be reimbursed at payoff
  • Click HERE for current rates and terms
  • Click HERE to contact us

Contact Herb Anderson (NMLS #787236) at 509.622.2011 or Jana Earle (NMLS #787237) at 509.622.2017 for more information and to apply.

Variable Rate Home Equity Line of Credit (HELOC):

This type of equity loan is a more flexible alternative. It is perfect for ongoing projects and to have for future emergencies, such as replacing a furnace or roof. The payments are variable because the rate is based on the prime rate plus a margin.

So whether you’re looking to make home improvements, expand, renovate or consolidate debt, our HELOC can make it all possible.

Features:

  • Up to 80% combined loan to value financing on 1st liens and 85% on 2nd liens
  • No annual fee
  • 10 Year Draw Period and 15 year Repayment Period
  • No closing costs except cost of an appraisal if needed and with a minimum initial loan advance of $20,000 and may not be paid off in less than 36 months or fees must be reimbursed at payoff
  • Click HERE for current rates and terms
  • Click HERE to contact us

Contact Herb Anderson (NMLS #787236) at 509.622.2011 or Jana Earle (NMLS #787237) at 509.622.2017 for more information and to apply.

For a First Mortgage/Deed of Trust Refinance or Refinance with Cash Out, CLICK HERE

Progressions Credit Union – NMLS #784627