Home Equity
Get a Home Equity Loan from Sound
Put the equity in your home to work (or play) for you.
Use your equity to fix up your fixer upper, cover major expenses, or consolidate debt.
Flexible Options
Get one lump sum or borrow what you need as you need it.
Flexible Terms
Up to 15 years on a Home Equity Loan.
No Upfront Fees
No application fees, processing fees, or closing costs.
Lower Interest Rate
On average, home equity loans offer lower rates than personal loans, student loans, or credit cards.
Easy Access to Funds
Access your line of credit with your Equity credit card or an online balance transfer.
Potential Tax Savings
Interest paid on your home equity loan may be tax deductible.1
Open your home equity loan in a few steps.
Apply for your loan
Submit your application online or in a branch and find out what rate you qualify for.
Submit documents and get an appraisal
To process the loan, we’ll need proof of income and property details. We’ll also send an appraiser out to your home.
Get your funds
Once approved, you can access your funds from your Sound account, via online balance transfer, or with an Equity credit card.
Today’s rates
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Home Equity Loans2 |
Term |
APR Range* |
|---|---|---|
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²Home 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. 120 payments of $12.07 per $1000 borrowed at 7.89% APR. Actual APR based on credit worthiness. Rate is based on 80% LTV or less. Some fees may apply. Payment examples do not include taxes and insurance. The actual payment obligation may be greater. Taxes and insurance will be paid by homeowner. Rates and fees are subject to change. Please check with your local branch, or call 800.562.8130 with questions. |
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Home Equity Loans2 Up to 70% LTV |
Term 5, 10 or 15 Years |
APR Range* 6.24% – 9.87% |
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Home Equity Loans2 Up to 80% LTV |
Term 5, 10 or 15 Years |
APR Range* 7.24% – 9.64% |
|
Home Equity Loans2 Up to 90% LTV |
Term 5 or 10 Years |
APR Range* 8.99% – 9.64% |
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Term |
APR Range* |
|
|---|---|---|
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¹Express Home Equity Mortgage Loan: 120 payments of $11.50 per $1000 borrowed at 6.79% APR. Rate is based on 75% LTV or less. 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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Express Home Equity Mortgage1 |
Term 5,7,10,12 or 15 years |
APR Range* 6.29% – 7.54% |
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Home Equity Loans3 |
Term |
APR Range* |
|---|---|---|
|
3Home Equity Loans and Home Equity Lines of Credit: At least 51% of net proceeds from loan must be used for acceptable energy efficient improvements. 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. 120 payments of $11.94 per $1000 borrowed at 7.64% APR. Rate is based on 80% LTV or less. Actual APR based on credit worthiness. Some fees may apply. Payment examples do not include taxes and insurance. The actual payment obligation may be greater. Taxes and insurance will be paid by homeowner. Rates and fees are subject to change. Please check with your local branch or call 800.562.8130 with questions. |
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Home Equity Loans3 Up to 70% LTV |
Term 5, 10, or 15 Years |
APR Range* 5.99% – 9.62% |
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Home Equity Loans3 Up to 80% LTV |
Term 5, 10, or 15 Years |
APR Range* 6.99% – 9.64% |
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Home Equity Loans3 Up to 90% LTV |
Term 5 or 10 Years |
APR Range* 8.74% – 9.39% |
|
LTV |
APR Range* |
|---|---|
|
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% |
Discover what’s possible.
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
Ready to Apply?
Applying online is quick and easy, take the next step.
Express Mortgage
Refinance your existing home with no closing costs and get on the road to a mortgage-free life. If you have good equity in your home, this may be for you. Available terms include 5, 7, 10, 12, or 15 years. View rates and loan limits.
Back to top Apply for a home equity loan.
Disclosures
NMLS# 691150 · Equal Housing Opportunity