Home Equity Line of Credit (HELOC)

Your home holds memories...and value

Your dedication and effort in building equity deserves more than just a pat on the back. It's time to turn that hard-earned equity into a powerhouse of financial opportunities.

Whether you're eyeing debt consolidation, embarking on a home transformation, investing in education or taking on any significant expense, a Home Equity Line of Credit (HELOC) can provide you with a flexible source of funds.*

With a HELOC, your plans and ambitions find a solid foundation – all backed by a credit union that's as enthusiastic about your goals as you are. Get ready to make your equity do more than you ever thought possible.

Or call us today: 800.347.9222

Featured rate

Rates accurate as of June 02, 2025

APR as low as*

7.75%

Term

15 years

Payment per $1,000*

$9.41

Try out our HELOC calculator

Washington Home Equity Loans - Remodeling

Here's the scoop

Your HELOC is a revolving line of credit that functions like a credit card during the draw period. Take out what you need when you need it. You will only be charged interest on the amount you use.

Loan amount

$20,000 minimum loan amount, $300,000 maximum

Draw amount

The minimum draw amount is $500

Rate

The interest rate is variable, which means it can change over time

Timeframe

Includes a 10-year draw period with a 15-year repayment period

How to make a HELOC work for you

Borrow the amount you need, when you need it
Use it to pay off higher interest debt (also called debt consolidation)
Make interest-only payments for the first 10 years
Ideal for substantial recurring costs like college tuition
A source of funds for large, unplanned expenses
A convenient way to pay for repairs or a remodel that may add value to your home
Bonus: interest may be tax deductible for home improvements*

Home Equity Line of Credit from Solarity Credit Union

Our members say it best

A highly professional, locally focused banking experience with no hidden/extra fees. I fully trust my financial needs to Solarity with no hesitation.

Delinda via Google Review

They're wonderful people to work with. It's a wonderful institution. I'm very pleased with it. Why else would I be here 20 years?

Dennis, member since 2002

The general way the team acts, and that kind of stuff, is very nice to me. You’re very customer-oriented, so it makes it easy to do business in that sense.

Jeff L., member since 2000

The staff at this credit union have always been so kind and courteous. My family has trusted this branch 3 generations of our family. I feel safe doing my banking with them and love their mobile app.

Crystal via Google Review

We love it here. We recommend it to our friends and family. It's just been a great experience. I can't imagine going anywhere else.

Alicia, member since 1991

Very professional, courteous and knowledgeable! I feel that they have gone above and beyond for all of my needs!

Jason via Google Review

Common questions about home equity loans

What's the difference between a home equity loan and a HELOC?

Home equity loans and home equity lines of credit (HELOCs) are two ways to access the value you've built up in your home, but they work differently.

A home equity loan is a one-time loan that's secured by the equity in your home. It provides a set amount of funds up front, which are repaid over a specific time frame. This option may appeal to those who prefer predictable monthly payments and know exactly how much they need to borrow.

A home equity line of credit (HELOC) offers more flexibility. Rather than receiving a lump sum, you can access funds as needed up to an approved limit, similar to a credit card. HELOCs generally have two phases: a draw period, when you can access funds and make smaller payments, followed by a repayment period, when you pay back both the amount borrowed and any applicable interest.

If you're planning a project with ongoing costs or aren't sure how much funding you'll need, a HELOC may be the better fit. If you prefer a fixed amount for a specific expense, a home equity loan might make more sense.

What is the process like for a home equity line of credit (HELOC)?

It is easy! You fill out an application, online or over the phone, and then submit the following:

Proof of income
Proof of homeowner’s insurance
Most recent mortgage statement

Our team will connect with you to verify your identity and information. Our experts will then briefly go over the loan process and learn your goals to ensure you’re borrowing what you need. Once we have that, we send your application to underwriting. This is a team that closely looks at your information. During underwriting, the team utilizes an online appraisal tool to estimate the value of your home. If this tool has the information it needs, sometimes you can get same-day approval for your HELOC! If your home’s information is unavailable within the tool, we will have to schedule a traditional appraisal, which can make the process take a little longer. Most HELOCs close in less than two weeks. Apply online to get started!

What can I use my home equity line of credit (HELOC) for?

Anything! Many members use the equity in their home to pay off higher interest debt as well as for home renovations, college tuition, vacations or unexpected expenses. Our team is here to help you explore if a HELOC is the right fit for you. Apply online to get started.

How much does it cost to get a home equity line of credit (HELOC)?

It varies, depending on your specific situation.. The cost could be higher if we have to order an in-person appraisal, for a professional to visit your home.

Some examples of items included in HELOC closing costs include:

Application fee - Application fees are standard when applying for any assistance, whether that be a home equity or conventional loan.
Appraisal fee - An appraisal is required when you apply for any home equity or HELOC loan program because the amount that you are awarded is based partially on the amount of money that your house is worth. The lender is going to want an accurate and recent estimate to base their calculations on, so it’s important to plan on having an appraisal done on your home.
Credit report fee - Depending on the lender, you may be required to pay a fee for running a credit report.
Title search fee - A title search is a search that is run to make sure that you are the owner of your home before awarding a loan to the borrower.
Attorney and notary fees - If you need a lawyer's assistance in drawing up any paperwork or need anything notarized, make sure to factor in some extra funds.

These are the customary charges that are standard across all home equity loans, but it may be useful to put some extra money aside for any unexpected costs that may occur.

It doesn’t cost anything to apply or have an initial conversation with us to find out if a HELOC is right for you. Apply online to get started.

How long does it take to get a home equity line of credit (HELOC)?

It depends on a variety of factors, but in some cases, you can get approved the same day! Most of our HELOCs close in less than two weeks. The best way to ensure that the process moves quickly is to have all the information we request submitted at the time of your application. This includes proof of income, proof of homeowner’s insurance and your most recent mortgage statement. We can get working on your application right away. Apply online to get started!

What do I need to apply for a home equity line of credit (HELOC)?

In addition to filling out an application, you will be asked to submit the following:

Proof of income
Proof of homeowner’s insurance
Most recent mortgage statement

Our team will connect with you to verify your identity and information. Our experts will then briefly go over the HELOC process and learn your goals to ensure you’re borrowing what you need. Apply online to get started.

Ready to tap into your home equity

We can help you determine the best way to access the equity in your home and see how much you might be able to borrow. Get in touch with us to get started: