HOME EQUITY

FROM EQUITY TO EVERYDAY POSSIBILITIES

A home equity loan or home equity line of credit (HELOC) allows homeowners to tap into the value they’ve built in their home to fund major expenses or consolidate debt. A home equity loan offers a fixed interest rate and predictable payments—ideal for one-time projects like renovations or large purchases. A HELOC works more like a credit card, providing a revolving line of credit with flexible access to funds, often at variable rates. Both typically offer lower interest rates than unsecured loans and can be smart tools when used responsibly.

Let’s see what’s possible. Talk with us about accessing your home’s equity—rates as low as 6.75% APR.

Call our Loan Zone at (216) 478-0067 or complete the form below.

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HOME EQUITY LOAN

15 Year

as low as 5.625% (5.875%APR)¹

HELOC -
VARIABLE RATE
10-Year Draw + 10-Year Payback

As low as

6.75% APR +0% ²

SEE ALL RATES

APR: Annual Percentage Rate

¹The rate covers single-family owner-occupied homes with a maximum loan-to-value of 79.99% and over 760 credit score and may not be used to pay off any existing OC Federal loan balances. Loan is first position and cannot be combined with any other offer. Minimum loan amount of $50,000 and maximum loan amount of $350,000. Property insurance required which may include flood insurance, if applicable. A sample $100,000 fixed-rate loan would result in 180-monthly payments of $849. 81. Other rates and terms available.

²APR: Annual Percentage Rate. Rate shown is the lowest available; actual rate may vary. Home Equity Lines of Credit (HELOCs) are variable-rate loans priced to WSJ Prime rate and may change; rates are capped at 17.99% APR and a floor rate of 3.50% APR. A 0% HELOC margin applies only to first lien position and owner-occupied primary residence that member has occupied for at least 6 months. Offer does not apply to LTVs above 79.99% and credit scores below 760. Offer applies to loans greater than $25,000, but less than $450,000. A non-waivable annual maintenance fee of $99 applies. The HELOC provides a 10-year draw period and a subsequent 10-year repayment period.

All offers are subject to credit approval, internal lending policies, applicable terms, membership eligibility, and may change at any time. Membership eligibility requires the purchase of a $5.00 membership share held in a share savings account. OC Federal Credit Union is federally insured by the NCUA and is an Equal Housing Lender. NMLS #413040.

HOME EQUITY OPTIONS

HOME EQUITY LINE OF CREDIT

A home equity line of credit (HELOC) gives you the flexibility to borrow only what you need, when you need it. No interest payments are paid for money that is not used. The variable interest rate is based on the prime interest rate posted in the Wall Street Journal.

Your rate will depend on credit limit, credit qualifications, and loan-to-value (LTV) ratio.

Credit line up to $450,000
$25,000 minimum credit line amount. $10,000 minimum draw required at closing.
Access funds by check, credit card, or transfer to your OC Federal checking account
10-Year draw period
Repayment period up to 10 years beyond
Up to 100% loan-to-value (LTV) ratio
No transaction fees
No prepayment penalty and no early termination penalties if HELOC is kept open for two years or more
Annual maintenance fee of $99

HOME EQUITY LOAN / FIXED SECOND MORTGAGE

A home equity loan (or fixed second mortgage) allows you to borrow what you need with a fixed rate and payment for the life of the loan.

Your rate will depend on credit limit, credit qualifications, and loan-to-value (LTV) ratio.

Loans up to $350,000
Terms from 5 years to 15 years
Competitive low fixed rates
Fast and easy approval process
Up to 79.99% loan-to-value (LTV) ratio
Low minimum payments
No prepayment penalty and no early termination penalties if HEL is kept open for two years or more

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