Home Equity Loan
You can tap into the value of your home to open up some exciting possibilities. We can help you refinance an existing loan, pay for those remodel projects, or pay off some debt. If you do not currently have your loan through Trailhead, get started by switching your loan to Trailhead and we will continue the process together.
What to Expect
Get Pre-Approved
Getting a home equity line of credit or refinancing 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 3 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!
Home Equity Loan Options
We offer three different loan term options for owner-occupied, investment, and vacation floating homes. If your existing home loan is through another financial institution, you will need to refinance your home loan through Trailhead as part of the process.
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
|
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 |
|---|---|
|
1% loan origination fee |
|
|
15 year |
7.00% – 9.25% |
|
7 year balloon (30 year amortization) |
7.50% – 9.75% |
Tap into the equity of your Floating Home
Apply for a Floating Home Equity Loan.
Have questions about our loans or floating homes? Call or email:
Visit any of our branches:
Old Town
221 NW 2nd Ave, Ste 100 | Portland, OR 97209
Mississippi
3904 N Mississippi Ave | Portland, OR 97227
Division
3354 SE Division St | Portland, OR 97202
