Home Equity
Accomplish More With a Home Equity Line of Credit.
Your home is likely your biggest investment, and it can also be a powerful financial tool. With a Home Equity Line of Credit (HELOC) from Maps Credit Union, Oregon homeowners can access flexible funding backed by the equity they’ve built over time.
Whether you’re planning a remodel, managing a major life expense, or looking for a more strategic way to borrow, a credit union HELOC provides ongoing access to funds when you need them.
It’s a smart alternative to a traditional home equity loan in Oregon, especially for projects or needs that evolve over time.
Home Equity Master Line
Repayment Terms: 10 year draw and up to 15 years to repay on a Loan to Value ratio up to 85% for select credit tiers.
Features:
- Line of credit to use for up to 10 years, with an additional 15 years to repay.
- Lock in 3 loans under one line of credit.
- Check writing options.
- No application fee.
- Loans up to $500,000.
- Available on vacation homes.
- Interest may be tax-deductible, consult your tax advisor.
This HELOC option allows you to use your home’s value when you need it most, on your timeline and terms.
Rates may change at any time. Other terms and conditions may apply.
Minimum monthly payments during the draw period will be determined based on the balance.
7.25-9.75%APR*10 year draw & up to 15 years to repay.
Home Equity Master Line – Interest Only
Repayment Terms: 10-year draw and up to 15 years to repay on a Loan to Value ratio up to 85% for select credit tiers.
Features:
- Line of credit to use for up to 10 years, with an additional 15 years to repay.
- Interest-only payments during the 10-year draw period.
- Lock in 3 loans under one line of credit.
- Check writing options.
- No application fee.
- Loans up to $500,000.
- Available on vacation homes.
- Interest may be tax-deductible, consult your tax advisor.
This HELOC option is ideal for homeowners who want to manage monthly payments and preserve flexibility with an interest-only home equity line of credit.
Rates may change at any time. Other terms and conditions may apply.
Minimum monthly payments during the draw period will be determined by accrued interest.
7.25-9.75%APR*10 year draw & up to 15 years to repay.
Home Equity Lock-In Options
Home Equity Master Line Lock-In Option – Variable
Repayment Terms: 5, 10, 15, or 20 years.
Lock in a portion of your Home Equity Master Line of Credit to an interest rate that is fixed for 5, 10, 15, or 20 years based on the Wall Street Journal plus a margin. As you repay the principal, your availability to borrow from your HELOC will increase. OR, as you repay the principal portion that is locked in, these funds will be available to borrow through your HELOC.
Lock fee of $25 may apply.
7.50-10.50%APR*Terms 5, 10, 15, or 20 years
Home Equity Master Line Lock-In Option – Fixed
Repayment Terms: 5, 10, 15, or 20 years.
Lock in a portion of your Home Equity Line of Credit to a fixed interest rate for 5, 10, 15, or 20 years. As you repay the principal, your availability to borrow from your HELOC will increase.
Lock fee of $25 may apply.
7.50-11.50%APR*Terms 5, 10, 15, or 20 years
HELOC Blog Posts
*Rate current as of effectivedate. Variable rate based on Prime rate as published in the Wall Street Journal plus margin. Margin amount depends on creditworthiness, loan to value ratio, occupancy status, and repayment terms. Current APRs range from 7.25%-9.75%. Maximum APR is 18.00%, Minimum APR is 3.49%. Estimated account opening fees $300.00- $700.00; these fees vary depending on circumstances and an appraisal may be required. Rate includes .25% reduction for autopay. Property insurance is required; flood insurance may be required. A $25.00 annual fee will be assessed. Financing is subject to credit approval and other underwriting criteria.