OWCU Home Equity Line of Credit

  • If you are a homeowner, using the equity in your home can really be the smartest way to borrow money. The equity in your home is the difference between the value of your home and what you owe on it.
  • A Home Equity Line of Credit with OWCU can provide you with up to 75% of the appraised value of your home.
  • A Home Equity Line of Credit may allow you to secure a larger borrowing limit than with a regular loan or line of credit, and at a lower interest rate.
  • Two distinct advantages of this type of line of credit are its very flexible repayment terms, (interest only, lump sum, or blended payments) and a convenient one time loan arrangement. And of course, interest is calculated only on the amount you use.