Finance a Fresh Start with a Sound
Home Equity Line of Credit (HELOC)
Similar to a credit card, a HELOC is a revolving line of credit, meaning you can borrow, repay, and borrow again up to the approved credit limit during the draw period.
You’re right where you’re meant to be. Make it perfect with a home equity line of credit.
Use your equity to fix up your fixer upper, cover major expenses, or consolidate debt.
No upfront fees
No application fees, processing fees, or closing costs.
Flexibility
Borrow what you need as you need it.
Easy Access to Funds
Access your line of credit with your Equity credit card or an online balance transfer.
Get Today’s Best HELOC Rate
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LTV |
APR Range* |
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6Home Equity Loans and Home Equity Lines of Credit: For 81% to 90% of appraised value, borrow up to $50,000 maximum for Home Equity loans and Home Equity Lines of Credit. Non-owner occupied Fixed Home Equity Loans: maximum LTV 70% with a maximum loan amount of $150,000. Non-owner occupied HELOC rates: Prime +2% to Prime +4% APR; maximum LTV 70% with a maximum loan amount of $150,000. Rates and fees are subject to change. Please check with your local branch, or call if we can answer any questions. |
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LTV Up to 70% LTV |
APR Range* 7.50% – 10.50% |
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LTV 70% – 80% LTV |
APR Range* 8.50% – 10.50% |
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LTV 80% – 90% LTV |
APR Range* 10.50% – 10.50% |
Common Questions About HELOCs
A home equity loan is a consumer loan secured by a second mortgage, allowing homeowners to borrow against the equity in their home. They are recommended to be used for long-term, ongoing expenses like home renovations, medical bills, or college tuition.
Sound Credit Union offers home equity loans. Learn More »
Home equity loans use the equity in your home – the difference between your home’s value and your mortgage balance – as collateral for the loan.
Sound Credit Union offers home equity loans. Learn More »
- Heating and cooling systems
- Windows
- Water heating systems
- Appliances
- Insulation, air and duct sealing
- Solar and wind energy
- Skylights and suntubes
- Xeriscaping – landscapes that need little watering
- Gas conversions
Other environmentally-friendly projects will be considered on case by case basis.
Ways to make your Loan Payment
It’s easy to make one-time payments or set up recurring payments.
Pay from a Sound Account
- Online – Log into your account and select Move Money > Make or Schedule a Transfer to transfer your one-time payment or set up recurring payments.
- Use Online, Mobile or Telephone Banking to make a one-time or recurring payment transfer.
- Contact us in the way that’s most convenient for you and we’ll transfer the payment for you.
Pay from another Financial Institution
- Online – Log into your Sound account and select:
- Move Money > External Transfers to transfer money from an account you have at another financial institution
- Payments > Pay from a Non-Sound Account to set up a payment using your debit card or an account at another financial institution.
- Mobile Deposit (check) – Download the Sound app and use Mobile Deposit to deposit a check into your savings or checking, then transfer the payment to your loan.
- Pay by ACH or Debit Card – Set up an expedited loan payment to your Sound credit card, vehicle, personal, home equity or Express Mortgage using your debit card or an account at another financial institution. (Fees apply. Maximum payment amount is $1,500)
- Set up automatic payments (ACH Payment) – Complete the ACH Debit Authorization form, allowing us to deduct your payment automatically each month from your chosen account.
Pay in Person (cash or check)
- Visit a Sound branch to make your payment by cash or check.
- Visit a CO-OP Shared Branching location to make your payment.
Pay by Mail
Please include the last four digits of your account number and the loan number on your check.
Sound Credit Union
PO Box 1595
Tacoma WA 98401
Pay a Sound Mortgage
- Online – Make payments online through the Mortgage Payment Center
- By Mail (check) – Send payments along with your monthly tear-off coupon to the address below:
Sound Credit Union
Attn: Payment Processing
PO Box 11733
Newark NJ 07101‐4733
Applying for a Sound HELOC is Easy.
Applying online is quick and easy, take the next step.
Back to top Disclosures
All loans are subject to Sound Credit Union lending policies. Verification of income may be required. All loans are subject to credit approval. Your rate and credit limit will be determined based on individual creditworthiness including income, debt ratio, and employment. Must be 18 years of age to qualify for a loan. Homeowners insurance is required. A $525 early closure fee is applied if the loan is closed within the first 24 months. Estimated appraisal cost is $850 and is subject to change. Maximum loan amount is determined by the amount of equity in your home. Equity in your home is based on appraised value. The APR includes only interest and no other costs and is based on the value of an index. This index is the Prime Rate published in the Wall Street Journal and could change at any time. Sound will use the most recent Index available to us as of 5 days before the date of any change to the Annual Percentage Rate. To determine the Annual Percentage Rate which will apply to your account, a margin will be added to your current Index rate. Home equity line of credit has a variable rate feature and an APR (corresponding to the monthly periodic rate) and the minimum payment may change as a result. In no event will the Annual Percentage Rate be less than 3.99% or more than the lesser of 18% per annum or the maximum rate allowed by applicable law. Borrow up to 90% of appraised value. For 81%-90% of appraised value, borrow up to $50,000 maximum for Home Equity Loans and Home Equity Lines of Credit. Rate and offer are subject to change at any time. Mortgaged property must be in Washington, Oregon, or Idaho. Must be a Sound Credit Union member to participate.
NMLS# 691150
Equal Housing Opportunity.