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Home Equity Line of Credit (HELOC)

Home Equity Loans

Upgrade Your Home with an O Bee Loan

Is it time to tear down that velvet wallpaper; or maybe stop all the messy DIY and hire a professional? You can put your home to work for you. Consider using the equity in your home to get the upgrades you’ve always wanted. Remodel with a bright, modern kitchen, a cozy family room, or sleek new master bath. Up to 100% of the equity in your home may be available to you. Upgrade your home with an O Bee loan and make it beautiful. 

A Flexible Home Equity Line of Credit

O Bee’s Home Equity Line of Credit (HELOC) is flexible enough to adapt to your every need. Whether you have one big purchase in mind or just appreciate the flexibility of having cash available, a line of credit is the smart way to take advantage of the equity you have in your home. Enjoy a low competitive variable rate, based on the Prime Rate. Rates are subject to change quarterly as the Prime Rate changes. (The Prime Rate is published daily in The Wall Street Journal-Western Edition.)

25 Year Repayment

O Bee Credit Union’s Home Equity Line of Credit Loan features a 10-year draw period and a 15-year repayment period. During the draw period, you are only required to make monthly interest payments. Balances of less than $35 must be paid in full. Assuming you do not wish to extend the draw period at the end of 10 years, the balance will automatically re-amortize for 15 years and you will be notified of a new monthly payment. See our Rates Here.

Home Equity Loan Value

The value of your home is determined by either the current tax assessment or an appraised value. Consult with an O Bee Representative for further information (some restrictions may apply).

No Restriction on Advances

There are no restrictions on advances with your established credit limit. You decide when, where, how, and how much.

Variable Rate Feature

The interest rate will remain fixed for one year after the first draw. Thereafter, the Annual Percentage Rate (APR) can change quarterly on the first of January, April, July and October. The maximum Annual Percentage Rate that can apply during the Plan is 18.00% or the maximum rate allowed by applicable law, whichever is less. The Annual Percentage Rate cannot increase by more than two percentage points during any one year period. The Annual Percentage Rate will never be less than 3.00%.

“Lock In” Option

During the draw period of your Home Equity Line of Credit, you may “lock in” all or a portion of the outstanding balance to a fixed interest rate. The minimum amount required for locking is $5,000 and the maximum term will not exceed 15 years. When you elect to lock in a portion of your outstanding balance, the available balance on your HELOC (Home Equity Line of Credit) loan will decrease accordingly. Those portions “locked in” will receive a separate loan suffix and will require a separate monthly principal and interest payment. There is no limit to the number of times you can choose the “lock in” feature.

Credit Line Increases Available

As your home increases in value, O Bee will increase your line of credit upon your request. (Upon approval of credit, fees may apply.)



*Annual Percentage Rate Effective 01/07/21

3.00% APR*


See Account Disclosure for Details
See HELOC Predisclosure for Details