Home equity lines of credit empower homeowners to make renovations, buy a vacation home, or pay off high-interest debt and save money!
Home Equity Loans —
Homeownership opens doors
Unlock your home’s full potential with a Gesa Home Equity Loan or HELOC. Renovate, pay off tuition, consolidate debt, or fund your next adventure with our competitive rates and flexible options. You’ll turn your home equity into opportunities!
Make the most of your home equity*
From making home improvements, paying for your education or paying off debts to jet-setting on your dream vacation, or investing in a small business, you can use your home equity to your advantage. Our team at Gesa is here to help make the most of your home equity.
Make the most of your home equity
Home Equity Loan
A Home Equity Loan lets you borrow a lump sum, using your home’s equity as collateral. With fixed payments and a predictable schedule, it’s a dependable way to fund big projects or major milestones.
- Competitive fixed rates
- Loan amounts from $20,000-$250,000
- No annual fee
Home Equity Line of Credit
A HELOC gives you a revolving line of credit, letting you borrow against your home’s equity. It’s a smart choice for ongoing expenses like renovations, unexpected costs, or consolidating debt while maintaining flexibility.
- Competitive variable rates
- Loan amounts from $10,000-$500,000
- No annual fee
Need help or advice?
You don’t have to look too far. Connect with a local home loan officer today!
Home Equity Line of Credit (HELOC)*
A HELOC can get you the extra cash you need to succeed—no matter the goal.
- Low variable rates
- Loan amounts from $10,000-$500,000
Navigating the appraisal process
Just like when you bought your home, you’ll need an appraisal to confirm the value of your property. The appraiser will inspect your home and compare it to similar, recently sold homes in your area to determine an opinion of value.
Your debt-to-income (DTI) ratio
Another factor to take into consideration is your DTI. DTI is all your monthly debt payments divided by your gross monthly income. DTI is one way lenders measure your ability to repay the money you’re borrowing.
Most lenders require a DTI of 45% or lower, and the maximum DTI varies by the type of loan you receive. A high DTI can impact your ability to refinance or limit your refinance options. Remember that utilities, phones, etc. do not count toward your DTI. Contact a Gesa loan officer if you have any questions.
The underwriting process
After all your documents are submitted, Gesa will work on underwriting your loan. This is where the underwriter checks all the details on your mortgage application and supporting documentation to make sure everything’s accurate and fulfills the necessary guidelines.
Once the underwriter approves all the required paperwork, your loan is nearly complete. Your lender will be in touch with you to schedule your closing and review your final loan numbers.
Notes and Fees
Fixed Home Equity
*APR = Annual Percentage Rate
Gesa Credit Union will finance a fixed-rate, one-time loan advance using the equity in a member’s primary residence as collateral for the loan. The property must be located in Washington, Oregon and Idaho: Minimum loan amount is $20,000. Maximum loan amount is $250,000.00.
Rates as low as – . The quoted ranges are accurate as of and are subject to change. All rates and terms offered are dependent on credit qualification, are subject to loan to value guidelines, and are subject to change. You must be a Gesa Credit Union Member and not all applicants will qualify. Contact Gesa Credit Union for full program details.
Fixed Home Equity Fees
- No annual fee
- Borrower will be required to pay all other standard upfront fees which can be paid with the loan proceeds.
All loans subject to approval.
HELOC
*APR = Annual Percentage Rate
Gesa will finance a line of credit using the equity in a member’s primary residence, investment property or vacation home as collateral for the loan. The property must be located in Washington, Oregon and Idaho. No balloon payment will result during the payment period.
The APR is based on Prime rate as published in the Wall Street Journal plus a margin of 0.00% to 7.00%. APR can be adjusted quarterly with a floor of 3.95% – and a ceiling of . Minimum loan amount is $10,000. Maximum loan amount is $500,000. Gesa will lend up to 90% of the value on a member’s primary residence (75% on manufactured homes and 70% investment properties), minus any existing mortgages or liens. The loan has a 10 year draw period followed by a 15 year repayment period. The variable monthly payment during the draw period will be a minimum of $75.00 or an interest only payment (whichever is greater) based on the balance of the loan when the cycles ends each month. During the 15 year repayment period, the payment will be a variable and the payment of principal and interest to pay the balance owing at the end of the draw period in full on an amortized 15 year term.
HELOC Fees
- No annual fee
- Borrower will be required to pay all other standard upfront fees which can be paid with the loan proceeds.
All loans subject to approval.
Other Loan Services
Routing Number: 325181248
51 Gage Blvd. Richland, WA 99352
Federally insured by NCUA
Equal Housing Opportunity
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Branch
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With best-in-class rates and a variety of everyday banking products, Gesa has the right account, card, or loan for you.
Up to 5.00% APY
On select checking accounts!
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Routing Number 325181248
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Notes & Fees Glossary
| Disclaimer | ||
|---|---|---|
| SmartPlus Checking | [APY] Minimum opening balance of $25 required if the account is opened online. In order to earn APY and receive unlimited domestic ATM fee refunds, you must meet the following requirements during each monthly qualifying period: provide and maintain valid email address, apply for and use your Visa debit card to make 15 debit card transactions that post and settle to your account, have at least one direct deposit of $200 or more post to your account, and enroll to receive eStatements. If the requirements are not met during the monthly qualifying period, the “non-qualifying” 0.01% APY will apply to the entire balance. Dividends on a SmartPlus Checking account will be compounded and credited to a member’s account each month. Dividends are calculated using the daily balance method. Qualifying account balances must meet minimum requirements. Rate may change after the account is opened. The qualifying period begins with the first day of the calendar month and ends on the last day of the calendar month at 6:00 P.M. Pacific Time. ATM fees of $4.99 or less will be reimbursed up to a maximum of $4.99 per individual transaction. No monthly fees and no minimum balance required to open or maintain account unless opened online. Fees could reduce earnings on the account. Limit of one SmartPlus Checking account per member. APY is accurate as of , the last dividend declaration date. | A7KD4W9LQXZT |
| Smart Checking | *There is a minimum opening balance requirement of $25.00 if the account is opened online. Regular users of Gesa’s electronic services may want to consider SmartPlus Checking for additional benefits. [Courtesy Pay] | M3VY82CNRLKP |
| Student Checking | [APY] Dividends on Student Checking Accounts are calculated using the daily balance method and will be credited to the member’s account every month. Rate may change after the account is opened. If you close your account before dividends are paid, you will not receive the accrued dividends. The minimum balance to open an account is $5.00, the par value of a share. Courtesy Pay is not offered on Student Checking Accounts. Only electronic transactions such as debit card or ACH transactions are permitted. Fees could reduce earnings on the accounts. | JXZ7V5MWLQ92 |
| Smartplus Savings | [APY] In order to earn a high dividend rate, you must meet the following requirements during the qualifying monthly period: a) provide and maintain a valid email address; and b) be enrolled to receive e-statements. If the requirements are not met during the monthly qualifying period, the “non-qualifying” 0.01% APY would apply to the entire balance. Dividends on an SmartPlus Savings Account will be compounded and credited to a member’s account each month. Dividends are calculated using the daily balance method. Qualifying account balances must meet minimum requirements. Rate may change after the account is opened. The qualifying period begins with the first day of the calendar month and ends on the last day of the calendar month at 6:00 P.M. Pacific Time. No monthly fees and no minimum balance required to maintain account. Minimum opening deposit of $5. Fees could reduce earnings. Limited to one SmartPlus Savings account per member. | P9T6QF2XJBLC |
| Smart Savings | [APY] Dividends on Smart Savings are calculated using the daily balance method and are paid monthly. Rate may change after the account is opened. No monthly fees and no minimum balance required to maintain account. Minimum opening deposit of $5. Fees could reduce earnings on the account. | Y4MKZ3WVTPQ8 |
| High-Yield Savings | [APY] Dividends on the High Yield Savings account are calculated using the daily balance method and are paid monthly. No monthly fees and no minimum balance required to maintain account. Minimum opening deposit of $5. Fees could reduce earnings. | NDLXQ98R5VTE |
| Money Market | [APY] Dividends for the Money Market Account are calculated using the daily balance method which applies a daily periodic rate to the balance in the account each day. You must maintain a minimum daily balance of $2,500.00 in your account each day to obtain the disclosed annual percentage yield. The minimum balance required to open this account is $2,500.00. There is a minimum average daily balance of $2,500.00 required to avoid a service fee for the calendar month. If the minimum average daily balance requirement is not met, you will be charged a service fee as stated in the Consumer Fee Schedule. New rates are set on the first of each month; rate may change after the account is opened. Fees could reduce earnings on the account. | GQ37ZVKY1WLM |
| Fixed Certificate | [APY] A penalty may be imposed for early withdrawal. Fees may reduce earnings. The minimum balance to open the certificate is stated in the chart. Early withdrawal penalties apply (a penalty may be imposed for withdrawals before maturity): If your account has an original maturity (term) of less than 12-months: The penalty will equal 90 days interest on the amount withdrawn subject to penalty. If your account has an original maturity (term) of 12-months or more – up to, but less than 36-months: The penalty will equal 180 days interest on the amount withdrawn subject to penalty. If your account has an original maturity of 36-months or more – up to, but less than 48-months: The penalty will equal 365 days interest on the amount withdrawn subject to penalty. If your account has an original maturity of 48-months or greater: The penalty will equal 540 days interest on the amount withdrawn subject to penalty. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. For any account which earns an interest rate that may vary during the term such as a bump certificate, the interest rate we will use to calculate this early withdrawal penalty will be the interest rate in effect at the time of the withdrawal. You may make withdrawals of principal from your account before maturity. In making such withdrawals, your balance may not fall below the minimum or we will close your account. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can withdraw interest only on the crediting dates without penalty. A $500 minimum deposit is required for consumer, IRA, and business certificates. Early withdrawal penalties may apply and may reduce earnings. Certificate rate is for a limited time only and could end at any time. Stated rate as of the first day of the month. | H85PLKJXZ2QM |
| Bump Certificate | [APY] A penalty may be imposed for early withdrawal. Fees may reduce earnings. The minimum balance to open the certificate is stated in the chart. The Certificate owner must contact Gesa Credit Union to request the one-time rate increase on Bump Certificate accounts. The rate on the Bump Certificate will be changed on the following business day of the date Gesa Credit Union receives the request. The bump option can only be exercised once during the term of the Certificate and does not increase the term of the certificate. The new interest will not be applied retroactively. The new interest rate will be the interest rate we are then offering on regular certificates (non- bump rate certificates) that have the same term and minimum balance. Bump Certificates are only available for consumer and IRA Certificates. Early withdrawal penalties will apply. Minimum deposit balance must be maintained to earn APY and fees may reduce earnings on the account. Special offer for a limited time only. | RXNQ72MLYV9C |