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Home Equity Line of Credit.

Whatever your goal is, whether it’s consolidating debt, getting cash to turn your house into your dream home, paying for college, or traveling to far off lands, you can make it happen with an Home Equity Loan from your Credit Union. With an Oregon Territory Home Equity Loan you receive a fixed rate for the term of the loan — up to 20 years. Plus, you may borrow up to 90% of the Market Value, from your Property Tax Statement or current appraisal, less any liens or mortgages. Loans are available for owner-occupied single dwellings in Oregon.

Generally, the interest paid on a home equity loan is fully deductible provided the loan, up to a maximum of $100,000, does not exceed the fair market value of the property, less any liens or mortgages. Check with your tax advisor.

Fees

  • Loan Application Fee: $75.
  • Appraisal Fee (if needed): $50-$450
  • Late Charge: if 14 days late, 20% of past due payment interest, with a minimum of $5.
  • Early closure fees may apply if the loan is closed before 3 years.
  • Other non-Oregon Territory third-party fees may apply
  • Property insurance is required

    • To get started — collect in these items and give us a call:

  • Copy of current property tax statement.
  • Your latest mortgage statement that includes the balance owed.
  • Copy of your current pay stub
  • If you are self-employed, copies of your last two-years tax returns are needed.
  • Copy of your homeowner’s insurance policy.