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Home > Real Estate Loans > Home Equity Line of Credit

Unlock the Equity in Your Home 

For home improvements, debt consolidation, college tuition, as a safeguard to fund unexpected expenses and more...

Our Fixed Rate Home Equity Line of Credit Offers:

  • A simple and fast process to access the equity in your home
  • Eliminate high-interest credit card debt
  • Pay for college tuition, a deck with outdoor kitchen, a hot tub or new windows etc.  
  • Loan amounts from $15,000 to $250,000*
  • Fixed low rates (see rate sheet)
  • Low monthly payments*
  • No prepayment penalties**
  • No annual fee
  • Property must be located in WA State
  • Apply online or on the phone with one of our loan officers
  • Use the cash however you want 
  • Keep your low 1st mortgage rate
  • View your statements in Online Banking to see monthly Home Equity Line of Credit transaction information

Apply today!  Just click on this button and apply for a loan or call 425.405.9973 Option #1 and ask to speak with a loan officer. 

APR = Annual Percentage Rate. Home Equity Line of Credit rate is based on credit score, lien position, credit limit and loan to value. Not all members will qualify and certain restrictions apply. The minimum monthly payment is established at the time of each advance at an amount equal to 1.00% of the then unpaid principal balance (which will be rounded up to the nearest $1.00), subject to the lesser of $50.00 or your account balance during the initial 5-year Draw Period. Then, during the remaining 10-year Repayment Period, the monthly payment is established as a 120-month amortized principal and interest monthly payment. Borrow up to 85% of the value in your home, less your first mortgage balance. Minimum loan amount $15,000 up to $150,000 on a second lien position or up to $250,000 on a first lien position. Minimum initial draw is $5,000 and subsequent minimum draws are $250. Only one Home Equity Line of Credit per member and owner-occupied property only. No closing cost on loans $15,000 to $75,000 with a loan to value of up to 80%. No upfront deposit required. Cost of full appraisal, if required, paid for directly by member and due when ordered. Note: Your payments during both the draw and repayment periods will not include amounts due for property taxes and insurance.
**Fees and Charges
The credit union may pay certain closing costs for you. If you repay and close your Home Equity Line of Credit within the first 24 months of opening it, you must reimburse SnoCope Credit Union for all settlement charges waived in the establishment of your Home Equity Line of Credit, but which were paid for by SnoCope Credit Union to third parties in connection with the origination of your Home Equity Line of Credit. These settlement charges are itemized within the “Other Charges” section of your Credit Line Account Home Equity Secured Open-End Credit Agreement which will be provided to you upon closing.

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