No-Fee** HELOC in Washington State

RATES AS LOW AS
7.25% APR*
Owner-Occupied Only
Up to 90% CLTV

*Annual Percentage Rate.
Effective 12/17/2025.

Last Updated: 5/2/2026.

See Rates | See HELOC Predisclosure

Loan amount up to
$350,000

Your Equity, Ready When You Are.

No-Fee** HELOC

You've been building equity every month, sometimes without even thinking about it. A Home Equity Line of Credit turns what you've already built into a flexible credit line you can draw from when you need it, and leave alone when you don't.

Through July 31, we're covering the origination fee and a range of other closing costs on new HELOCs, so more of your equity goes toward what actually matters to you. If you own your home and carry at least some equity in it, this is worth a conversation.

APPLY NOW

See Disclaimer

What is a Home Equity Line of Credit (HELOC)?

A home equity line of credit, or HELOC, lets you borrow against your home value to access cash as needed. Interest rates on HELOCs tend to be lower than a credit card or personal loan because the loan is tied to your home.

How Does It Work?

A HELOC can be a first or second mortgage that gives you access to the cash value of your home. Here's a simple example: If you have a mortgage of $200k, then you may have $150k of equity that you could potentially borrow against to fund other projects or expenses.

Estimate Your Home Equity

Use it for

Home Improvements,
Renovations, and Upgrades

Debt
Consolidation

Emergency
Expenses

Down Payment
On a Loan For a New Home

Estimate Your Monthly Payments

How it works

Apply Online

You can start the process today
in the comfort of your home

We Review

Your application will
be reviewed by our team

Get Approved

If approved, our team
will let you know

Draw Funds

Enjoy a 10-year Draw period +
a 15-year Repayment period

APPLY NOW

Features & Benefits

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.)

No-Fee HELOC

From now through July 31, you can get a HELOC and we will cover the following loan fees**:

Title
AVM
Flood Certificate
Tax Service
Foreclosure Prevention Fee
Credit Report Fee
Loan documentation Fee
Deed of Trust Recording Fee
Notary Fee (if needed)
Wire (if needed)
Origination Fee (if needed)

25 Year Repayment

O Bee Credit Union’s Home Equity Line of Credit features a 10-year Draw period and up to a 15-year Repayment period after that.

Draw Period: The draw period is the amount of time you may withdraw funds. During the draw period, you are only required to make monthly interest payments on the amount you have withdrawn. For example, if you were approved for $30,000 but only withdrew $5,000 of that. You would pay interest on the $5,000 only. Balances of less than $35 must be paid in full.

Repay Period: Assuming you do not wish to extend the draw period at the end of 10 years, the balance will automatically re-amortize and you will enter the repayment period for up to 15 years. You will be notified of a new monthly payment at this time. See Our Rates Here

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 “lock with a fixed interest rate and payment amount”. 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.

Card Option

Want to keep your expenses separate and have easy access to your Home Equity Line of Credit? Ask our representatives about our card option.

We are the Original Credit Union

of the Olympia Brewery

Established in 1955 in Bottlehouse A (the name "O Bee" stands for "Olympia Beer")
36,000+ Members and growing
We give back to our community with our time, talent, and resources
Open to anyone living or working in Washington State and Pabst employees in TX and CA
We are a not-for-profit credit union serving the financial needs of our Members first and foremost

*Annual Percentage Rate. Offer available to new and current Members. Subject to membership eligibility requirements and credit approval. APR is accurate as of 12/17/2025. APR varies based on creditworthiness, and one year after the first draw may vary quarterly with market fluctuations based on the U.S. Prime rate. Offer, terms, and conditions are subject to change without notice. See HELOC Predisclosure for more details. Equal Housing Opportunity.

**No Fee HELOC offer valid only up to a maximum loan amount of $350,000 with tax assessed value or automated value model (AVM). Loans requiring an appraisal will be subject to appraisal costs. Loans on purchase transactions and HELOC’s used as part of a refinance of a first mortgage are not eligible. Upon approval of credit. Owner Occupied Washington State only. Offer valid for a limited time. Subject to late fees if payments are not made as agreed, consult your agreement for details. WA State reconveyance fees apply based on the state fee in place at time of payoff.