Home Equity Loans
Turn your home’s equity into flexible funds when you need them. Choose a line of credit (HELOC) or a fixed loan based on what works best for you.
Access the value in your home for projects, debt consolidation, or major expenses with flexible home equity options.
Take on a remodeling project, consolidate debt or pay for a wedding or college expenses. Really, anything is possible with our home equity products.
Choose a line of credit or a fixed loan
Borrow for projects, expenses, or consolidation
Work with a team that’s here to help
Use your equity as a lower-rate option
Home Equity Line of Credit (HELOC)
A flexible line of credit that lets you borrow as needed.
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Borrow what you need, when you need it
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10-year draw period
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Pay interest only on what you use
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Borrow up to 90% of your home's value
Fixed Home Equity Loan (2nd Lien)
A lump sum loan with predictable payments.
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Fixed rate and set monthly payment
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Receive funds upfront
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Multiple term options available
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Borrow up to 90% of your home's value
Fixed Home Equity Loan (1st Lien Refinance)
Refinance your mortgage and access your equity.
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Available in 10, 15, and 20-year terms
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Access equity through refinance
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TAPCO does not provide escrow services for property taxes or homeowners insurance
APR = Annual Percentage Rate. Home Equity Lines of Credit (HELOCs) are variable rate products. Rates are based on the Prime Rate, your creditworthiness, and a margin ranging from 0.25% to 1.25%. HELOCs require a minimum monthly payment equal to 1% of the outstanding balance during the 10-year draw period. Rates are for qualified borrowers and may vary based on credit, loan amount, term, and combined loan-to-value (CLTV). Not all applicants will qualify for the lowest rate. All loans are subject to approval. TAPCO Credit Union NMLS #504286.
HELOC Disclosures:
Financing available on owner-occupied homes located in Washington State only. Maximum CLTV is 90%. A $25 annual fee applies and is waived in any year where interest paid is equal to or greater than $25.
Fixed Home Equity Loan Disclosures:
Financing available on homes located in Washington State. Maximum CLTV is 90%. For internal refinances, a minimum of $10,000 in new money is required. TAPCO does not collect for property taxes or homeowners insurance. Rates, terms, and conditions may change without notice.
Closing Costs:
TAPCO will cover closing costs except for a full appraisal (typically required for loans over $400,000). If the loan is closed within 36 months of opening, the borrower must reimburse TAPCO for those costs.
HELOC Payment Example:
If you made only the minimum monthly payment and took no additional advances, it would take 15 years to pay off a $10,000 balance at a 7.00% APR. During that period, you would make 120 payments ranging from $100.00 to $61.00, 59 payments of $119.18, and a final payment of $118.64.
Fixed Home Equity Loan Payment Example:
Monthly payment of $489.16 based on a 120-month term for a $50,000 loan at 6.50% APR.