Home Equity Loan Rates

What can you do with your home’s equity? Anything you want! Pay off high-rate debt, remodel your home, take a vacation or pay for a wedding, whatever you need! Take the equity you’ve built up in your home and put it to use. A friendly and knowledgeable OceanAir representative is ready to help get you started.

Low Rates
Variable rate & fixed rate options
Minimal fees

Home Equity Loans – Fixed Rate 2nd (Owner Occupied)

Product	Rate as low as	Discount Points	APR as low as	Payment per $1000
15 Year	8.500%	0	9.342	$9.85
20 Year	9.000%	0	9.703	$9.00

*APR= Annual Percentage Rate.

Fixed monthly principal and interest payments for life of the loan.

Rates and APRs shown above are for owner-occupied, single-family home, a loan amount of $50,000, a maximum Loan to Value (LTV) of 80%, FICO score 680, and approximate pre-paid finance charges of $1,800.

Home Equity Line of Credit (HELOC) (Owner Occupied)

PROMOTIONAL HELOC RATE: As low as 3.99% APR* for 12 months.

Standard Variable Rate will apply after promotional period is over. Only one HELOC promotion per member. Must be Owner Occupied. Additional restrictions may apply.

CLTV	Prime	Rate	APR*	Payment per $1000
CLTV < 70%	Prime + .50	8.00%	8.00%	$9.56
CLTV 70.01%-80%	Prime + .75	8.25%	8.25%	$9.70
CLTV 80.01%-90%	Prime + 1.50	9.00%	9.00%	$10.14

*APR= Annual Percentage Rate.

Home Equity Lines of Credit (HELOC) are variable-rate lines.

The Prime Rate Index is 7.50% as of January 1, 2025. This is a variable rate loan with a floor of 4% and cap of 14%. Rates advertised vary for owner-occupied, single-family home with a min FICO of 680. Closing Costs starting at $999 + Appraisal Fee if required.

Home Equity Line of Credit (HELOC) (Non-Owner Occupied)

CLTV	Prime	Points	Rate	APR*	Payment Per $1,000
CLTV <70%	Prime +1	0 pts	8.50%	8.50%	$9.85

*APR= Annual Percentage Rate.

Home Equity Lines of Credit (HELOC) are variable-rate lines.

The Prime Rate Index is 7.50% as of January 1, 2025. This is a variable rate loan with a floor of 4% and cap of 14%. Rates advertised vary for non-owner-occupied, single-family home with a min FICO of 720. Closing Costs starting at $999 + Appraisal Fee if required.

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Terms and Conditions:

*APR= Annual Percentage Rate.  The annual percentage rate (APR) is the cost of credit over the term of the loan expressed as an annual rate.

Must meet membership and account criteria. All loans and loan programs are subject to credit qualifications and approval. Loans are secured by a lien against the property. Mortgage loans from OceanAir Federal Credit Union may not be available in all states. Mortgage rates and terms will vary based on collateral and credit. Programs, rates, terms, conditions, and services are subject to change or cancellation without notice.  For borrowers with less than a 20% down payment, Private Mortgage Insurance (PMI) may be required which will increase the APR and Impound Account will increase the monthly payment.

Rates displayed are “as low as” and accurate as of the date on rate sheet but are subject to change at any time without prior notice. Rates are not automatically locked in at the time of application. Loan rate locks can be requested in writing after your loan has been pre-approved by OceanAir. For payment examples, please click on each APR under the specific loan type. Payments may be higher with property taxes and insurance. Not all applicants will qualify for the lowest rate. Actual rate will vary depending on your creditworthiness, income, loan amount, loan to value, and other factors specific to your transaction. Other rates and terms may be available. Additional restrictions may apply.

For more information on these and other mortgage loan programs, contact a Mortgage Loan Officer at 805.988.2151 ext 8504. NMLS #460876