With housing values on the rise in Washington State, many of our members have the opportunity to tap into the equity in their homes to invest in home improvements. Our Custom Fit Home Equity gives you the best parts of two traditional home equity products in one uniquely flexible solution.
Custom Fit features:
- ZERO application, origination, prepayment, or annual fees.
- Fast loan approval times to jump-start your project.
- Flexible funds whenever you need them.
- Freedom to lock in up to five fixed-rate loan segments at any time.
- Pay less interest than other financing options.
Home Improvement Funds Made Easy
No matter how many loan segments you have, with Custom Fit Home Equity you’ll always have just one simple payment. Easily access your funds using a Salal Visa or checks, and manage your account anytime with Online Banking.
Members have used Custom Fit to finance home improvements, college tuition, debt consolidation, or simply to have the peace of mind of knowing you have access to emergency funds if the unexpected happens.
Get Started on Your Next Project
Let us help you customize a home equity solution that’s a perfect fit for your needs. Apply in person at any branch, by calling 800.562.5515, or by clicking the button below.
Start Using Your Home Equity Today
Custom Fit Home Equity
| Product | APR* | Terms |
|---|---|---|
| LINE OF CREDIT - VARIABLE RATE | 8.24%-10.49%** | No minimum draw amount. Revolving line of credit with 10-year draw period 15-year amortization after end of draw period. |
| FIXED-RATE LOAN SEGMENTS | 5.70%-9.70%*** | $5,000 minimum draw amount. 5, 10, and 15-yr terms available. Fully amortized principal and interest payments. |
*APR=Annual Percentage Rate. Actual APR will be based on creditworthiness. **Index=Wall Street Journal Prime Rate. The APR is variable and may change during the term of the loan. The minimum APR is 3.24% and the maximum APR is 18.00%. ***10-Yr Nominal Constant Maturity Treasury. EXAMPLE PAYMENT—Fixed-Rate Segment: $386.31 a month based on a 60-month term, $20,000 loan at 5.95% APR. All loans subject to approval. Loan amount and HELOC combined loan-to-value (HCLTV) subject to occupancy status; Max. loan amount from $100,000 to $150,000 and HCLTV can range from 65%–70%. Max. LTV based on approved credit and property valuation. Homeowner’s insurance required. Residential real estate only. Subject property must be in CA, OR, or WA state and vested in borrower’s name. Should an appraisal be a loan requirement, applicants pay half of the fee (approx. $350–$450); all other application fees are covered by Salal. Credit Union membership is required. Consult a tax advisor regarding the deductibility of interest. Salal Credit Union NMLS #416045. | ||
Rates are current as of March 29th, 2023.