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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.

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Flexible Options

Get one lump sum or borrow what you need as you need it.

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Flexible Terms

Up to 15 years on a Home Equity Loan.

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No Upfront Fees

No application fees, processing fees, or closing costs.

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Lower Interest Rate

On average, home equity loans offer lower rates than personal loans, student loans, or credit cards.

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Easy Access to Funds

Access your line of credit with your Equity credit card or an online balance transfer.

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Potential Tax Savings

Interest paid on your home equity loan may be tax deductible.1

Money to fix up your fixer upper. Low-rate HELOCs.

Money to fix up your fixer upper. Low-rate HELOCs

Love where you live. Use your equity to fix up your fixer upper, cover major expenses, or consolidate debt.

Low-rate HELOCs

Open your home equity loan in a few steps.

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Apply for your loan

Submit your application online or in a branch and find out what rate you qualify for.

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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.

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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

Fixed Home Equity Loans

Home Equity Loans2

Term

APR Range*

²Home Equity Loans and Home Equity Lines of Credit:
Financing available on homes in WA, OR or ID. A $525 early closure fee is applied if the loan is closed within the first 24 months. Maximum loan amount is determined by the amount of equity in your home. Home equity line of credit has a variable rate based on Prime, as published in the Wall Street Journal, and subject to change during the term of the loan. The minimum APR is 3.99% and the maximum APR is 18%. Most home equity loans qualify for deductible interest. Consult your tax advisor for details. Homeowners insurance is required.

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 $10.75 per $1,000 borrowed at 5.29% 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.

Home Equity Loans2

Up to 70% LTV

Term

5, 10 or 15 Years

APR Range*

6.24% – 9.87%

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%

Express Home Equity Mortgages

Term

APR Range*

¹Express Home Equity Mortgage Loan:
No fees, no closing costs except appraisal if needed. Homeowners insurance is required. A $525 early closure fee is applied if the loan is closed within the first 24 months. Borrow up to 75% of appraised value. Sound Credit Union will be in first lien position. Maximum loan amount of $249,999. Taxes and insurance will be paid by the homeowner. Financing available on homes in WA, OR or ID.

Rates and fees are subject to change. Please check with your local branch, or call if we can answer any questions.

Express Home Equity Mortgage1

Term

5,7,10,12 or 15 years

APR Range*

6.29% – 7.54%

Green Fixed Home Equity Loans

Home Equity Loans3

Term

APR Range*

3Home Equity Loans and Home Equity Lines of Credit:
Financing available on homes in WA, OR or ID. A $525 early closure fee is applied if the loan is closed within the first 24 months. Maximum loan amount is determined by the amount of equity in your home. Home equity line of credit has a variable rate based on Prime, as published in the Wall Street Journal, and subject to change during the term of the loan. The minimum APR is 3.99% and the maximum APR is 18%. Most home equity loans qualify for deductible interest. Consult your tax advisor for details. Homeowners insurance is required.

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 $10.63 per $1,000 borrowed at 5.04% 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.

Home Equity Loans3

Up to 70% LTV

Term

5, 10, or 15 Years

APR Range*

5.99% – 9.62%

Home Equity Loans3

Up to 80% LTV

Term

5, 10, or 15 Years

APR Range*

6.99% – 9.64%

Home Equity Loans3

Up to 90% LTV

Term

5 or 10 Years

APR Range*

8.74% – 9.39%

Home Equity Lines of Credit

LTV 

APR Range*

6Home Equity Loans and Home Equity Lines of Credit:
Financing available on homes in WA, OR or ID. A $525 early closure fee is applied if the loan is closed within the first 24 months. Minimum monthly payment is calculated at 0.75% of the total balance owed. Maximum loan amount is determined by the amount of equity in your home. Home equity line of credit has a variable rate based on Prime, as published in the Wall Street Journal, and subject to change during the term of the loan. The minimum APR is 3.99% and the maximum APR is 18%. Most home equity loans qualify for deductible interest. Consult your tax advisor for details. Homeowners insurance is required.

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.

LTV 

Up to 70% LTV

APR Range*

8.50% – 11.50%

LTV 

70% – 80% LTV

APR Range*

9.50% – 11.50%

LTV 

80% – 90% LTV

APR Range*

11.50% – 11.50%

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.

Whether you’re looking to make a one-time payment, or set up a recurring payment schedule for your loan or credit card payment, we have options for you.

Making payments from a Sound savings or checking account:

  • Use Online, Mobile or Telephone Banking to make a one-time payment transfer.
  • Recurring payments can also be pre-scheduled in Online Banking.
  • Contact us in the way that’s most convenient for you and we’ll transfer the payment for you.

If you’re paying from an account at another financial institution:

Payments 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

Making payments to your Sound mortgage:

  • Make payments online through the Mortgage Payment Center
  • 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.

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Apply for a home equity loan.

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