Loans Support

As the balance of the segment goes down, the balance to the entire line of credit goes down. So, those funds are able to be used again for whatever you’d like. As long as it is still within the draw period.

No, you can pay off a segment at any time.

With interest rates potentially increasing, it allows you the peace of mind to know your rate for that segment will not increase. Also, it makes it easy to know exactly how long it will take you to pay off that segment.

A segment is the portion of your line of credit that you chose to hold aside at a fixed rate and term.

No, we want to make this as easy as possible for you and we won’t charge you for it!

No, you have the option to fix out amounts any time during the draw period (120 months from loan opening), but you are not required to do so.

Yes, but you have to satisfy the whole payment amount to advance the due date.

Yes, you can name them to more easily identify what the funds were used for.

The fixed rate is based on your current variable rate plus a margin based on the term you select.

The Equity Options Line of Credit allows you to fix up to 3 different amounts at any one time. They all can have a different rate and term. Once one segment (the portion that was fixed out) is paid off you can add another one.

The Equity Options Line of Credit, also known as a HELOC, offers the convenience and flexibility of a large credit line and allows you to re-use the funds as you pay the balance. You have the option: draw on your variable rate line of credit whenever you need, or lock in part (or all) of the outstanding balance at a fixed rate and term.

Whether you are looking to make a one-time payment or set up a recurring payment schedule, you have options.

Making payments from your Trailhead account:

• Set up automatic transfers for recurring payments through Online or Mobile Banking or with a Member Service Officer
• For one-time payments, transfer funds via Online or Mobile Banking or request a transfer through a Member Service Officer

Making payments from an account at another institution:

• Set up automatic payments by requesting an ACH Debit Authorization
• Make a payment by check and either mail or drop off at any of our branches

Because the way you’ve managed your finances in the past can help predict how you are likely to do so in the future, lenders will consider your credit rating when you apply for a mortgage or other loan. Your credit rating is the clearest reflection we can see of how you handle your finances. A higher credit score may help you qualify for better mortgage interest rates, and some lenders may lower their down payment requirement for a new home loan if you have a high credit score.

Learn more about credit scores and what they mean on Investopedia

Yes. We will schedule the appraisal as part of reviewing your home loan application and you will receive a copy of the appraisal at closing. All lenders require a home appraisal before they will approve a home loan, because an appraisal gives us a trained professional’s point of view on the fair market value of the home to make sure it’s in line with the purchase price.

Every home loan is different, so there is no set timeline for what a specific home mortgage process will require. Factors that affect how long the process takes include the type and terms of the home loan, the documentation required to secure the loan, and the amount of time it takes to provide your lender with those documents.

Our lending specialist will work closely with you so that deadlines are met and your rate locks are honored in such a way that helps you meet your timeline.

Yes. This is what’s called a “cash-out refinance.” Cash-out refinance empowers you to pay off your existing mortgage(s) and also take out some of your home equity in a lump-sum cash payment at closing.

A home equity loan lets you borrow a fixed amount, secured by the equity in your home, at a fixed interest rate, and you receive the money in one lump sum. A home equity line of credit enables you to withdraw money as you need it up to a predetermined limit and repay the loan over a fixed term and typically with a variable interest rate that may increase or decrease over time.

There are several ways you can borrow from your home equity line of credit:

• Sign into Online Banking or Mobile Banking and make a transfer to your checking account
• Visit a Trailhead branch or shared branch location
• Call 503.220.2592

Your borrowing ability is determined by the equity you have in your home as well as other factors, like your credit history. Call 503.220.2592 to speak with one of our home lending specialists to determine how much you could qualify for.

You can roughly estimate your available equity by subtracting all the debts secured by your home (i.e., your mortgage and any existing home equity loans) from your home’s estimated market value. For example, if the market value of your home is $200,000 and you owe $100,000, you have $100,000 available in home equity.

The amount of home equity you can borrow against is determined by the equity in your home as well as other factors, like your credit history.

Every home improvement loan is different, so there is no set timeline for what a specific home improvement loan will require. Our lending specialist will work closely with you so that deadlines are met and your rate locks are honored in such a way that helps you meet your timeline.

Funding is dependent upon many factors like whether an appraisal is needed. But, as soon as the loan is closed and funded you will have access to the funds.

Share Savings, Money Market Savings, and Certificates of Deposit.

Once the line of credit is setup on your account, you can transfer funds via Online or Mobile Banking, over the phone, or advance funds at the teller line.

Whether you are looking to make a one-time payment or set up a recurring payment schedule, you have options.

Making payments from your Trailhead account:

• Set up automatic transfers for recurring payments through Online or Mobile Banking or with a Member Service Officer
• For one-time payments, transfer funds via Online or Mobile Banking or request a transfer through a Member Service Officer

Making payments from an account at another institution:

• Set up automatic payments by requesting an ACH Debit Authorization
• Make a payment by check and either mail or drop off at any of our branches