Promotions —

Cash in on your home equity.

Home equity lines of credit empower homeowners to make renovations, buy a vacation home, or pay off high-interest debt and save money!

 

A no fee Home Equity Line of Credit (HELOC) can get you the extra cash you need to succeed—no matter the goal.

  • Variable rates as low as 3.95% APR.
  • No annual fee
  • Loan amounts from $10,000-$250,000
  • We’ll pay all the closing costs (unless there’s a full appraisal required or there are fees outside of normal circumstances)
HELOC

*APR is stated as annual percentage rate. Gesa will finance a line of credit using the equity in a member’s primary residence as collateral for the loan. The property must be located in Washington, Idaho Counties: Benewah, Bonner, Boundary, Clearwater, Idaho, Kootenai, Latah, Lewis, Nez Perce and Shoshone or Oregon Counties: Clackamas, Clatsop, Columbia, Gilliam, Hood River, Morrow, Multnomah, Sherman, Umatilla, Union, Wasco and Washington.

 

The APR is based on Prime rate as published in the Wall Street Journal plus a margin of 0.00% to 2.75%. APR can be adjusted quarterly with a floor of 3.95% and a maximum of 18%. Minimum loan amount is $10,000. Maximum loan amount is $250,000. Gesa will lend up to 90% of the value on a member’s primary residence (75% on Jumbo products or manufactured homes), 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 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. The Credit Union will pay all the closing costs unless a full appraisal is required. Typical appraisal costs range from $600- $1,200.