HELOC  (Home Equity Line of Credit) 



 Do more with your home equity!

You’ve put a lot into your home. Let it return the favor. No fees. No complicated applications. No closing costs.

Designed for maximum flexibility with a 10-year draw period, our open-ended HELOCs function like a credit card. Borrow what you need, pay it back, and pay interest on what you borrow. This line of credit comes with a variable interest rate and it utilizes available equity in your home. It's that simple.;

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How exactly does a HELOC work?

  • A HELOC works a lot like a credit card — except it has a much lower rate than many credit cards. You have a credit limit allowing you to use what you need and will only pay interest on the money you borrow. Our HELOC offers a low fixed rate for the first year. So, you can borrow, pay it down, and re-borrow as needed within your 10-year draw period.

How do TAPCO's HELOC rates compare?

  • As a not-for-profit cooperative, we are here to help you reach all your financial goals. Our low intro rates and competitive variable rates help you access the cash you need to tackle remodeling projects, wedding expenses, education costs, vehicle purchases, debt consolidation, and more.

HELOC vs. Home Equity Loan

  • How is our HELOC different from our Home Equity Loan? Our HELOC is an open-ended revolving line of credit with a specific draw period (10 years). In contrast, our Home Equity Loan is a one-time advance loan with a fixed payback period. In other words, you get the entire proceeds of the loan up front with a Home Equity Loan. From there, you make monthly payments on your Home Equity Loan with a fixed rate for a set period (up to 20 years). Our knowledgeable and approachable loan team will help guide you toward the loan that is right for your goals and situation.

Homeowner is required to pay taxes and insurance. Financing only available on refinanced, owner-occupied homes in Washington State. Combined first and second mortgages must be less than $417,000. Only first or second liens are eligible. No closing costs except appraisal if required. If borrower closes the loan within 36 months from its opening date, the borrower will be required to reimburse TAPCO for closing costs. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, LTV, and collateral conditions. All loans subject to approval. Must be a TAPCO member with a minimum savings balance of $25. There is a $25 annual fee for the HELOC. This fee will be waived in any year where the interest paid was equal or greater than $25. TAPCO NMLS #504286. Federally Insured by NCUA. 

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