Home Equity Loans

Open the Doors to More Options
Use your home's equity to finance what's important to you.

Flexible options fit any need.

After years of mortgage payments, you may have accumulated considerable equity in your home.

Whitefish Credit Union lets you borrow against that equity through a Home Equity Loan or Home Equity Line of Credit (HELOC) with competitively low interest rates. From major home improvements to large expenses to debt consolidation, we have options to help you meet your goal. These products are often low-cost alternatives to high-interest consumer loans and credit cards.

Why a Home Equity Loan?

Rate Options

Choose between a fixed rate home equity loan or a variable rate home equity line of credit. 

Fee Free

You save more with no application fees, no annual fees, and no origination fees.


Borrow what you need, when you need it. 

Which home equity loan is best for you?


A revolving source of funds, much like a credit card, that you can access as you choose.

Fixed Rate

An upfront lump sum of cash, with a fixed payments over the life of the loan.

Flexible access to a credit line.

Upfront lump sum at a fixed rate.


  • Interest-only payments during the 10-year draw period.*
  • Low variable rates to help achieve affordable payments.
  • Convenient access to borrow what you want, when you need it. 


  • Consistent monthly payments at a fixed rate.
  • Receive your funds in one lump sum.
  • Flexible term options to fit your needs.


Frequently Asked Questions

  • The line of credit appears as an account in your Whitefish Credit Union Online Banking, and you can easily initiate a free, same-day transfer to your checking account via online banking, calling WCU, or visiting one of our branch locations.
  • Fixed rate home equity loans are provided as a one-time lump sum disbursement, either transferred to your account or as a cashier's check when loan is funded.

  • Your HELOC term is 10 years. During the term of the loan, you can draw on your available balance, which is the maximum limit minus the principal balance. There is no limit to the number of draws or minimum draw amount.

  • Your HELOC is an interest only loan. Interest is calculated based on the average daily balance x days in the billing cycle x your annual interest rate / 365. All interest only payments are in arrears, for the prior billing cycle.
  • For a Fixed Rate Term Home Equity Loan, the payment is calculated based on loan amount, interest rate, and term of the loan. This payment would remain same through term of loan (other than final payment) assuming no late payments or modification to loan terms or balance.

  • The interest may be tax-deductible; however, the eligibility depends on various factors. Please consult with your tax adviser.

  • Loan to value is a ratio used by lenders to determine available equity based on the appraised market value minus current or proposed outstanding debt on the subject property.

  • To determine your LTV ratio, divide all current and prosed loan amounts by the value of the home, and then multiply by 100 to get a percentage.

  • LTV = (amount owed on loan(s) /  by appraisal value of home) x 100

  • You may be able to borrow up to 90% of your home's appraised value. However, the amount of money that you're eligible to borrow will depend on a number of factors including the value of your home, your first mortgage balance, where your property is located, type of property and use, credit score, qualifying income, and other monthly debts.

  • Our competitive rates are based on credit eligibility at the time of application. Not all applicants will qualify for the lowest rate.

  • Your HELOC is a 10 year interest only loan, with a 10 year draw period and a Balloon payment. The principal and any accrued interest is due in full on your maturity date. (Borrowers may apply to refinance their loan balance with a new loan request based on borrower eligibility and financing options available at that time)*

Easy as 1, 2, 3

1. Complete Application – Takes Just 15 Minutes!

2. Submit Documentation

3. Get Your Funds*

DISCLOSURE: *APR: Annual percentage rate. Loans subject to credit and collateral requirements. Rate reflects the lowest rate available on approved credit as determined by the creditworthiness of
each applicant. Not all will qualify. Effective
05/18/2024, the current variable APR will range from 3.00% to 18.00%. It will not exceed 18.00% APR. Rates are subject to change without notice.
Fees, including appraisal and title, range from $350 to $5,000. Minimum loan amount $10,000. Some restrictions may apply. Property insurance is required.