A couple signing papers
A couple signing papers
A couple signing papers
A couple signing papers
A couple signing papers
A couple signing papers
Put your home to work for you.
Use the equity you've built to tackle home improvements, consolidate expenses and high-interest bills, or pay for college.

Home Equity Line of Credit (HELOC)

Use your home’s equity to finance your next big project. Whether it’s to pay for a home renovation or remodel, pay consolidated medical bills or help pay for your child’s education, a no annual fee HELOC from WaFd Bank is often more affordable than using credit cards or other loans. You’ll also receive a discount on your interest rate when you make automatic payments from your WaFd checking account. We’ll pay closing costs for our existing WaFd home loan clients on lines of credit up to $250,000. HELOCs are available for primary, second home & investment properties, including jumbo HELOCs up to $700,000. Apply online, where you can securely upload your documents and receive status updates in our secure portal. Get started with a versatile HELOC today.

Home Equity Loan (HELOC) Calculator

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See today's rates and APR

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$0Your Estimated HELOC Monthly Payment
Your estimated interest-only mortgage payment for the interest-only period doesn't account for the principal payments you'll make later when the loan begins amortizing. Contact one of our friendly loan officers for more information and accurate payment information.
  • $0
    Interest Only
  • $2,689
    Taxes
  • $3,780
    Insurance
  • NO ANNUAL FEE
  • Discount of 0.250% off your interest rate for automatic monthly payment from your WaFd Checking Account
  • Interest rates as low as 3.125%. Interest rate and APR (Annual Percentage Rate) are variable based on the Wall Street Journal Prime Rate plus a margin subject to credit approval of your credit history, loan to value, occupancy and EZ Pay requirements.
  • Monthly interest only payments do not include property taxes and insurance.
  • HELOCs available for owner occupied homes, 2nd homes & investment properties.
  • Home Equity Loan Calculator payments display monthly interest only payments assuming the outstanding balance displayed in the Equity Credit Line
  • HELOCs feature a 25 year term as follows:
    • 10 year draw period to borrow on your line of credit whenever you need it
    • Any outstanding loan balance after 10 year draw period will be amortized (principal and interest payments) over 15 years
  • Consult your tax advisor.
  • The rate will never exceed 17.99 % APR.
  • Property Insurance is required.
  • Investment properties require WaFd to be in first lien position.
  • HELOCs, like all loans are subject to credit approval. Restrictions and limitations may apply.
  • NO ANNUAL FEE
  • Discount of 0.250% off your interest rate for automatic monthly payment from your WaFd Green or Stellar Checking Account
  • Interest rates as low as 3.125%. Interest rate and APR (Annual Percentage Rate) are variable based on the Wall Street Journal Prime Rate plus a margin subject to credit approval of your credit history, loan to value, occupancy and EZ Pay requirements.
  • Monthly interest only payments do not include property taxes and insurance.
  • Consult your tax advisor.
  • The rate will never exceed 17.99 % APR.
  • HELOCs available for owner occupied homes, 2nd homes & investment properties.
  • Home Equity Loan Calculator payments display monthly interest only payments assuming the outstanding balance displayed in the Equity Credit Line
  • HELOCs feature a 25 year term as follows:
    • 10 year draw period to borrow on your line of credit whenever you need it
    • Any outstanding loan balance after 10 year draw period will be amortized (principal and interest payments) over 15 years
  • Property Insurance is required.
  • Investment properties require WaFd to be in first lien position.
  • HELOCs, like all loans are subject to credit approval. Restrictions and limitations may apply.

Use a HELOC for Home Improvements

Some Benefits to a Home Equity Line of Credit

You pay interest only on the amount you have borrowed
Rate discounts available for auto pay from your WaFd checking account.
NO annual renewal fees
How a HELOC works
10 Year Interest-Only Draw Period, then 15 Year Payoff or Repayment Period, Refinance to a fixed interest and principal payment loan
10 Year Interest-Only Draw Period, then 15 Year Payoff or Repayment Period, Refinance to a fixed interest and principal payment loan
Benefits of working with WaFd Bank
We keep your loan and don't sell it to Wall Street or Fannie Mae.
Our loan officers are standing by to help you with every step.
We are not paid on commission, so your needs come first.

Your neighborhood loan officer can help you get started

Find a Loan Officer
Save Up to $600 on Closing Costs With a Checking Account From WaFd Bank*

Frequently Asked Questions

Is HELOC interest tax-deductible?

HELOC interest payments may be tax deductible based on specific income qualifications and whether you occupy the home as a primary residence, 2nd home, or use it as an investment property. Please consult your tax professional for your specific situation.

How much equity do you need for a HELOC?

The amount of equity needed for a HELOC will depend on a number of factors such as whether you have an existing mortgage that will or will not be paid off when you apply for your HELOC and whether you have any other existing liens on your home. In general, lenders use a calculation called a loan to value (“LTV”) that allows a borrower to use 80% of the value of their property for a HELOC and any other existing mortgages that you owe on your home. The LTV will also vary according to your individual credit and finances and whether you occupy the subject property as your primary residence, 2nd home or use it as an investment property. Contact your local WaFd loan officer to get specific details for your individual situation.

Is a HELOC a second mortgage?

A HELOC can be a 2nd mortgage if you have an existing 1st mortgage that will not be paid off by your HELOC. Contact your local WaFd loan officer to see if your financing request qualifies for our no cost HELOC.

See more FAQs

Want more help? Come See Us

If you've done all your research but aren't sure a home equity line of credit makes sense, just stop by. We’re nearby, and we’ll sit down with you and answer any questions you may have.

Arizona, Idaho, Nevada, New Mexico, Oregon, Utah, and Washington

* To qualify for the maximum $600 discount, before closing documents are prepared you must (1) have or open the WaFd checking account, (2) register for EZ-Pay from the new checking account, and (3) sign up for direct deposit of at least one form of a monthly recurring source of income.