Home Equity Loans

Use funds for tuition, home improvements, wedding expenses or other important purposes.

Home equity lines of credit are easy and economical, and allow you to put the money you’ve invested in your home to work for you for tuition, home improvements, wedding expenses or other important purposes. A home equity loan offers you low interest rates and flexible terms.

• Rates—as low as 6.00% APR.*
• No closing costs on owner-occupied properties for loans up to $100,000.**
• Available for owner-occupied and non-owner occupied properties.
• Flexible payment options include a 10-year interest-only line of credit—keeps your payments low and you always have the option to pay more—or choose a 5-year line of credit with a 2% of balance payment. 
• Consult your tax advisor about tax deductability.

With a home equity line of credit, you have the flexibility to use only what you need, when you need it. Our competitive rates, low fees and top-notch service make Westerra an excellent choice for your second mortgage!

Fixed rate second mortgage loans with terms up to 15 years are also available for loan amounts up to $200,000. Apply for a fixed rate second mortgage loan.

Find the Value of Your Home
View current credit union home equity loan rates.

*APR=Annual Percentage Rate. Variable rates are based on individual credit history and are subject to change without notice. Rates adjusted on the first day of the month following a change in Prime Rate, as published in the Wall Street Journal. The rate will not exceed 18% APR. The floor rate is 4% APR. Interest may be tax-deductible, consult your tax advisor. Rate valid for owner-occupied properties. 2.50% will be added to Prime Rate for non-owner occupied properties. Advertised rate is for Loan to Value (LTV) of 80% or less. Minimum loan amount is $5,000. Minimum monthly payment is $50. A balloon payment may result. Property insurance and security interest in property required. No closing costs on owner-occupied properties for loan amounts of $100,000 or less. If an appraisal is needed, a fee will be assessed. Other loan closing costs may range from $175-$275. Federally insured by the National Credit Union Administration. Equal Housing Lender. To determine your payment amount, click here to use the payment calculator. Click here for full disclosures.