Home Equity Loans, Second Mortgages | Woodstone Credit Union | Federal Way Washington

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Home Equity Loans

To borrow a lump sum for a one-time expense, choose a home equity loan, also known as a second mortgage. You’ll benefit from a low, fixed rate for up to 15 years and make fully amortized (interest-plus-principal) payments for the life of the loan.

A home equity loan might be right for you if:

You know how much money you need to borrow and only plan on using the funds once. You may use your home equity loan to:

  • Improve your home
  • Consolidate your debts
  • Pay for college tuition
  • Buy a car
  • Fix your rate