Father and young son hugging in the kitchen

Whatever life brings, a HELOC is ready when it matters.

What is a HELOC?

A home equity line of credit, or a HELOC, is a revolving line of credit. It's secured by the equity you've built in your home and can be used as needed—it's a lot like a credit card, you only pay interest on what you draw from your HELOC. In most cases, a HELOC is far less expensive than a credit card and can be a more affordable way to borrow.

Home Loan calculator

Benefits of a WaFd Home Equity Line of Credit

We pay closing costs for our existing WaFd home loan clients on lines of credit up to $250,000.*
Discount of 0.25% on your interest rate when you make automatic payments from your WaFd checking account.
We don't sell, assign, or transfer your loan. We don't sell it to Wall Street or Fannie Mae.
No annual renewal fees.
Only pay interest on the amount borrowed.**

* Closing costs are paid only for primary homes, not for second, vacation, or investment properties.

** During the draw period, the borrower is only required to pay interest on those funds that they actually drew out and used.

What you can do with a Home Equity Line of Credit

10 ways to use a HELOC to customize your home

Getting Out of Credit Card Debt

Financing education costs with your home's equity

Upgrade to make your home green

Home Loan Calculator

NO ANNUAL FEE
Discount of 0.250% off your interest rate for automatic monthly payment from your WaFd Checking Account
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, second homes & investment properties.
Closing costs are paid only for primary homes, not for second, vacation, or investment properties.*
Fees Range: $354 - $7,579. Your HELOC fees are included in the disclosure provided at loan application and again at closing.
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.
Loans are subject to credit approval. Restrictions and limitations may apply.
This calculator is for educational purposes only, and may not represent WaFd Bank's lending program requirements.
Fees for our HELOC vary depending on the HELOC loan amount and property location.

NO ANNUAL FEE
Discount of 0.250% off your interest rate for automatic monthly payment from your WaFd Checking Account
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, second homes & investment properties.
Closing costs are paid only for primary homes, not for second, vacation, or investment properties.*
Fees Range: $354 - $7,579. Your HELOC fees are included in the disclosure provided at loan application and again at closing.

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.
Loans are subject to credit approval. Restrictions and limitations may apply.
This calculator is for educational purposes only, and may not represent WaFd Bank’s lending program requirements.
Fees for our HELOC vary depending on the HELOC loan amount and property location.