HELOC Loan Bonus Offer

Spokane and Bellingham homeowners, now through Sept 30 2021, we’ll give you $250 when you open a new Home Equity Line of Credit with rates as low as 3.59% variable APR.1

With a Home Equity Line of Credit, you can borrow money using the value of your home as collateral. Our interest rates are among the lowest in the nation.

This one's for you, Spokane and Bellingham homeowners: For a limited time only, we're giving new Home Equity Line of Credit holders a $250 bonus with rates as low as 3.59% variable APR.1

If your goals involve a home improvement project, debt consolidation, tuition costs or other major expenses, a Home Equity Line of Credit (HELOC) might be your best option. On average, BECU HELOC loans have lower interest rates than credit cards and personal loans, and any interest you accrue on a HELOC may be tax-deductible.3

In the end, you may save more money while achieving your goals.

Benefits of a BECU HELOC

As a BECU HELOC account holder, you'll enjoy:2

  • Rates as low as 3.59% APR variable and 3.84% APR fixed.3
  • No application fees.
  • No origination fees.
  • Credit union membership that promotes your financial wellbeing.

Become a BECU member when you apply for a HELOC online. To redeem your $250 bonus, enter the code HELOC250 during the application process.  You may also visit any BECU location. You must apply on or before 9/30/2021 to be eligible for offer.

1 BECU will deposit $250 into your BECU savings account 45 days from the date the HELOC originates and may be reported to the IRS on form 1099MISC at year end. You must be a BECU member in good standing at the time of promotion payout to receive the bonus deposit and offer is only available to recipients of the direct mail offer with promo code. BECU employees are not eligible. This offer cannot be used to refinance, in whole or in part, any BECU home equity loan or line of credit. Fixed Rate Advances obtained on existing HELOCs are also excluded from this offer. BECU reserves the right to terminate this offer at any time. You must apply on or before 9/30/2021 to be eligible for offer.

2 You must open and maintain BECU membership with a Member Share or Member Advantage savings account in order to obtain a Home Equity Line of Credit (HELOC); not all applicants will qualify for membership. Financing is subject to credit approval and other underwriting criteria. The specific credit limit will be determined based on information obtained while processing your application, which includes, but is not limited to: your credit report, your income, occupancy, and available equity in your home; not all applicants will qualify. BECU must be able to perfect a first or second mortgage lien on your one-to-four family residence. Borrower will not have to pay any upfront fees (no origination fee, no appraisal fee, and no title report or title insurance fee) to open the HELOC in normal circumstances. If the title report shows more than one existing lien, judgment, deceased owner(s) or other title issues, or if the appraisal shows problems with the subject property, however, then Borrower may be required to pay third parties to subordinate or otherwise resolve such title issues and/or to repair or otherwise resolve such property problems. These third-party charges may range from $150 to $775 based on the specific circumstance. This range of charges does not include estimates for the costs of home repairs since they can vary greatly. Borrower also will be required to pay for optional services (e.g., retaining an attorney not required to open a HELOC). Borrower will be required to pay for hazard insurance (including flood insurance, if applicable) throughout the term of the HELOC. Borrower will not be required to pay any periodic fees to maintain the HELOC, nor any fees to obtain a variable rate or fixed rate advance during the term of the HELOC. When the HELOC terminates, Borrower will be required to pay a reconveyance fee ranging from $125 to $235 but is subject to change. Loan programs, terms, and conditions are subject to change without notice. The APRs for BECU's HELOCs are variable and are based on the highest Prime Rate as published in the Wall Street Journal as of the date of any rate adjustment plus an applicable margin. Current HELOC rates range from 3.59% to 8.59% APR as of 8/1/2021, and are subject to change. This APR will vary with the Prime Rate but will never exceed 18.00% or go below 3.25% APR. APRs do not include costs other than interest. The rate for a Fixed Rate Advance (FRA) range from 3.84% to 9.99% APR as of 8/1/2021. You may convert all or a portion of your outstanding HELOC variable-rate balance to a FRA. The minimum outstanding balance that can be converted into a FRA is $5,000 from a HELOC account. No more than three FRAs may be open at one time. Contact a BECU representative for current information. During the HELOC draw period, your monthly payment will equal the amount of accrued interest, subject to the lesser of $100 or your outstanding balance. Because the minimum monthly payment during the draw period is interest only, your principal balance may not be reduced. At the end of the draw period, your monthly payment will equal the amount of principal and interest necessary to pay off the loan balance by the end of the 180-month repayment period. Your payments during both the draw and repayment periods will not include amounts due for property taxes and insurance.

3 The above information is intended to provide generalized information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.