Home Equity Line of Credit provided by People's Community Credit Union throughout Clark County and Southwest WA.

Are you weighing your options to pay for home improvements, college tuition or other major expenses? A second mortgage in the form of a home equity loan or a home equity line of credit may be worth considering. At People’s, we charge no annual fee on either of our Home Equity Loans, and closing costs are low. 

We have two Home Equity products.

  • A fixed-rate loan for up to 15-years with a fixed payment amount for the life of the loan
  • A variable-rate Home Equity Line of Credit (HELOC) which allows you to borrow funds as you need them up to a specific credit limit.

Loan Type Annual Percentage Rate LTV
Home Equity Line of Credit
Index Value: Prime*
No Annual Fee
7.50%* Variable
Margin: 0.00%

90%
Home Equity Loan
Low Closing Costs
15 Year
15 Year
10 Year
5 Year


6.75%*
6.50%*
6.25%*
6.00%*


80%
90%
80%
80%

To apply for your Home Equity Loan or Line of Credit visit your nearest branch location

View the Home Equity Line of Credit disclosure.


*Annual Percentage Rate. The Annual Percentage Rate for the Home Equity Lines of Credit is based on up to a 90% loan-to-value and the value of an index. The index is the Prime Rate as published in the Wall Street Journal.  The HELOC rate may change quarterly with changes in the Prime Rate. No margin is added to the Index. Other terms and rates may be available. Rates on Home Equity Loans are based on an 80% or 90% LTV. No annual fee. Membership required to borrow. Loans are subject to application and credit approval. Interest may be tax deductible. Consult your tax adviser. Homeowners insurance is required.



What is a Home Equity Line of Credit (HELOC)?

A home equity line of credit (HELOC) uses the equity in your home as collateral to open a second mortgage. This line of credit is different from a home equity loan because you can borrow funds as you need them – borrowing money later without having to reapply for another loan. To access these funds, you can make online or telephone transfers, as well as come into one of our convenient branch locations.

How Long Does a HELOC Last?

At People’s, your Home Equity Line of Credit lasts 8-years. It can be used over time for home-improvement projects, large purchases, a trip of your dreams, or even college tuition. The interest rate on a HELOC is variable and payments can be extended for up to 23 years, 8 years to draw on the line and then another 15 years to payback with no other advances permitted.

How is a Home Equity Line of Credit different from a Home Equity Loan?

A Home Equity Loan is a one-time lump-sum payment, often used for a specific project like remodeling or large home improvement projects. Like other traditional loans, you begin making fixed monthly payments on the loan right away. On HELOCs, you only make a payment if there is an outstanding balance.
At People’s Community Federal Credit Union, we offer variable-rate Home Equity Line of Credit. We charge no annual fee and have low closing costs.


The Perks of Banking with People’s



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Home Equity Line of Credit in Vancouver WA

Serving Greater Vancouver WA

Vancouver | Fishers Landing | Hazel Dell | Battle Ground | Ridgefield | Salmon Creek

Orchards | Minnehaha | Walnut Grove | Hockinson | Baker | Sara | Felida | Cascade Park