Refinance your Floating Home

Get more out of life on the water.

Why Refinance?

Are you interested in getting a better deal on your existing floating home loan? Discover refinancing options available to you and discover the exciting possibilities ahead.

A photo of houses along a body of water.

Refinancing Process

Get Pre-Approved

Getting a home equity loan to refinance your floating home starts with getting a pre-approval. We recommend applying for the most you might need. When you’re ready to move forward we’ll sign initial documents and get started.

Inspect and Appraise

The float will be inspected to find any issues, and we’ll get an appraisal to find the value. The float inspection must pass with a minimum three rating and life expectancy of 15-20 years.

Sign Final Documents

We’ll work with you and a title company to get all the other pieces in place. Once everything’s ready, you’ll sign the final documents and we’ll be done!

Loan Options

Refinancing your home loan should be simple, that’s why we offer three refinance loan options for owner-occupied, investment, and vacation floating homes in Oregon. Financing available up to 70-80% of the value of your home.

15-Year Fixed-Rate Loan

7-Year Balloon Loan

Home Equity Line of Credit

You don’t need to choose which loan option you are applying for to start your application process. We’ll work with you to determine which is best for you.

Rates

Floating Home Equity Line of Credit

Term	Annual Percentage Rate

Variable rate is based on the Prime rate as published in the Wall Street Journal on the first day of the month and subject to change on the first day of the following month. 3.75% floor; 18% ceiling. Member pays third party closing costs.
15 year amortization with 10 year draw	9.50% - 10.00% variable

Term

Annual Percentage Rate

Variable rate is based on the Prime rate as published in the Wall Street Journal on the first day of the month and subject to change on the first day of the following month. 3.75% floor; 18% ceiling.

Member pays third party closing costs.

15 year amortization with 10 year draw

9.50% - 10.00% variable

Floating Home Loan

Term	Annual Percentage Rate

1% loan origination fee Member pays third party closing costs Purchase or refinance
15 year	7.00% – 9.25%
7 year balloon (30 year amortization)	7.50% – 9.75%