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Home Equity Line of Credit.

By tapping into the equity in your home, you can have money available to purchase take care of needed repairs or improvements to your home, or purchase a second home, or even a car. At Oregon Territory you may borrow up to 100% of the Market Value, from your Property Tax Statement or 90% of a current appraisal, less any liens or mortgages. Loans are available for owner-occupied single dwellings.

Generally, the interest paid on a home equity loan, or line of credit 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.

  • Maximum Line of Credit: $150,000; minimum initial advance: $7,500; $500 thereafter
  • Minimum rate 4.50% APR, Maximum rate is 16% APR; maximum annual increase 2%
  • Rate is variable based on the 26-week Treasury bill rate; may change semi-annually.
  • Payment based on outstanding balance, with a minimum payment of $100.

    • Fees

  • Loan Application Fee: $75.
  • Appraisal Fee (if needed): $50-$450
  • Annual Maintenance Fee: $35
  • Late Charge: if 10 days late, 20% of past due payment (maximum of $15)
  • 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, fill out a loan application and bring in these items:

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

    • How do I access my credit line?
    You can access your credit line by calling to transfer funds to your checking account, request a check to be sent to you, or go to any teller to make an advance. For your protection, your Home Equity line cannot be accessed from ATM machines. There is never a fee to access your line of credit. The minimum amount for an advance on your credit line is $500.