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

20 Year

as low as 5.49% (5.684%APR)¹

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

As low as

6.75% APR ²

SEE ALL RATES

¹APR: Annual Percentage Rate. Rate shown is the lowest available; actual rate may vary. This is a 20-year fixed-rate home equity loan available for qualified borrowers. Loan covers single-family, owner-occupied primary residences with a maximum loan-to-value of 79.99% and a minimum FICO credit score of 760. Loan must be in first lien position and may not be used to pay off existing OC Federal Credit Union loan balances. Minimum loan amount is $50,000; maximum loan amount is $350,000. Property insurance is required, including flood insurance if applicable. A $50,000 at 5.49% rate (5.684% APR) for 240 months results in monthly payments of $349.15. NMLS#413040. Equal Housing Lender.

²APR: Annual Percentage Rate. Rate shown is the lowest available and is subject to credit approval. Actual rate may vary based on creditworthiness, lien position, loan-to-value (LTV), and other factors. Home Equity Lines of Credit (HELOCs) are variable-rate loans indexed to Wall Street Journal Prime Rate (Prime) and may change monthly. The APR is equal to the Prime Rate plus a margin. The maximum APR is 17.99%, while the minimum APR is 4.50% for 1^st lien position HELOCs. The HELOC includes a draw period of 120 months and a 120 month repayment period. A 0% margin is available for first-lien positions on owner-occupied primary residences for at least six months. Promotional margin applies only to LTV of 79.99% or less and credit scores of 760 or higher. Lines above 79.99% LTV or with lower credit scores are priced at higher margins. Property insurance required, including flood insurance if applicable. A non-waivable annual maintenance fee of $99 applies. Offer applies to credit lines greater than $25,000 and less than $450,000. NMLS #413040. Equal Housing Lender.

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. 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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