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Home Equity Loans

For over 100 years, we’ve been helping our Pacific Northwest neighbors achieve the home of their dreams. Are you planning to tackle some home improvements or working to consolidate debt? With a Kitsap Bank Home Equity Loan or Home Equity Line of Credit you get the financial flexibility you want. Both loan options offer appealing rates and terms. 

Which Loan is right for you?

A Home Equity Line of Credit (HELOC) allows you to use the equity or value of your home as collateral. With a HELOC, you can borrow up to an approved credit limit on an as-needed basis and pay interest only on the money you actually withdraw.

A Home Equity Loan allows you to receive the loan proceeds all at once and allows you to have a fixed interest rate paying on the entire loan amount.

Questions about which loan is right for you?  Contact one of our Kitsap Bank representatives who would be happy to help.

Easy and transparent process

As a local, independent, family-owned bank, we're making it easy to apply for home equity loans through Kitsap Bank's online loan application portal.

Access the portal from your phone or computer for updates and more.

  • View the status of your loan application
  • View a summary of your loan
  • See which documents you have submitted or need to submit
  • Easily upload documents 
  • Send secure messages to your loan team

Begin the Process -  Apply Now

NMLS #454067


Powerline Home Equity Line of Credit1

Loan SolutionLTV APR Term Loan Amount
Powerline Home Equity Line of CreditUp to 80%As low as 8.50%*up to 120-monthsLimits $25,000-$750,000
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    *APR = Annual Percentage Rate

    • Subject to Credit Approval.
    • Variable rate based on the Wall Street Journal Prime Rate; may be subject to a margin of plus or minus a 0.25%.
    • The floor is 4.50%; the annual percentage rate will not go below 4.50%.
    • Estimated interest only loan payment is $7.08 per month, for each $1,000 advanced at 8.50% APR*.
    • Rates are subject to change depending on market conditions and may increase after consummation.
    • Rate to float monthly with a floor established at origination depending on the lien position, loan amount and term; maximum of 18% APR*.
      • Maximum interest only payment is $15.00 per month for each $1,000 advanced at 18.00% APR*.
    • Minimum Credit Score of 680.
    • Owner occupied single family residential property in the State of Washington only. Other collateral limitations may apply.
    • Product also available for different Loan term, and Deed position.
    • Changes to loan amount, loan term, or deed position may affect the annual percentage rate.
    • Monthly payments are typically interest only and do not include principal, property taxes or insurance premiums.
    • Hazard insurance required; flood insurance may be required if applicable.
    • You should consult a tax advisor regarding the deductibility of interest and charges for the Home Equity Line of Credit.

    Please call your local Kitsap Bank Branch for additional details.

    Owner Occupied only 

    • The Bank will pay typical initial third party fees such as but not limited to appraisals, credit reports, flood determinations, title and recording. 
    • In the event an appraisal is needed to evaluate your loan request, the cost for the appraisal must be paid up front before the appraisal order is placed.  The appraisal fee will then be credited back at the time of loan closing.  Where appraisal services are rendered and the loan is not originated; the appraisal fee is not refunded.
    • If this line of credit is terminated on or before the 36th month from the Credit Agreement date you will be required to repay all fees and charges initially paid by the Bank.
    • Third party fees and charges generally total between $611.00 and $6,106.00 and the Bank will provide you with an itemization of these fees upon closing.
    • You may terminate your Line of Credit by paying the balance in full and requesting us to reconvey the Deed of Trust that secures the Credit Lien. You may pay your Credit Line to a zero balance and not pay this fee if you intend to keep the credit line active.

    Fixed Rate Option Feature for Owner Occupied Only

    • Only available on new and existing PowerLines secured by Owner Occupied Primary Residences originated after January 2019.  All Powerlines originated prior to this date and existing lines secured by Second Homes or Investment Properties are not FRO eligible.
    • Option to term out up to 3 different Fixed Rate portions at any time during the life of the draw period.
    • The principal becomes available again in the Home Equity Line of Credit as the balance is repaid on the Fixed Rate Option.
    • The minimum amount for a Fixed Rate Option is $5,000; the maximum is the outstanding balance.
    • The term-out period for a Fixed Rate Advance is 36 months to 120 months depending on the amount fixed.
    • The minimum monthly payment is $100.00 or the fully amortized payment whichever is greater.
    • A fee of $50.00 applies for each Fixed Rate Option.
    • You should consult a tax advisor regarding the deductibility of interest and charges for the Home Equity Line of Credit.

    Please call your local branch for the rates available for the Fixed Rate Options.


Fixed Rate Home Equity Term Loan1

Loan SolutionLTV APR Term Loan Amount
1st Deed of Trust (1)** Up to 80%*7.504%30 year amortization with balloon payment due in 10 yearsLimits $25,000-$750,000
1st Deed of Trust (2)**Up to 80% LTV*7.769%Up to 120 monthsLimits $25,000 - $400,000
2nd Deed of Trust (3)***Up to 75% CLTV* 8.014%Up to 180 monthsLimits $25,000 - $400,000
  • 1
    • 1

    *APR = Annual Percentage Rate

    **LTV = Loan to Value

    ***CLTV = Combined Loan to Value

    0.25% Rate Discount with Auto Payment from Kitsap Bank

    • Subject to Credit Approval.
      A typical loan payment examples based on first payment date 30 days from funding are as follows:
      • (1) $1,748.04 per month for the first 119 months with a final balloon payment of $216,987.47 due on the 120th month, based on 30-year amortization with the balance due in 10 years,  $250,000 loan at 7.50% interest rate (7.504% APR*)
      • (2) $1,500.13 per month, based on 10-year, $125,000 loan at 7.75% interest rate (6.507.769%  APR*)  
      • (3) $1,194.57 per month, based on 15-year, $125,000 loan at 8.00% interest rate (8.014%  APR*)  
      • Property taxes and insurance are required but are not included in the sample monthly payments.
    • Maximum debt to income ratio 43%.
    • Minimum credit score 680.
    • No prepayment penalty.
    • LTV/CLTV limits and loan amounts apply.
    • Owner occupied single family residential properties in the State of Washington only. Other collateral limitations may apply. 
    • The actual rate and payment amount may be different as determined by the collateral, term, loan amount and date of first payment.
    • Unique properties will be considered on a case by case basis.
    • In addition to typical hazard insurance, flood insurance may be required and escrowed if the property is located in a flood zone.
    • Borrower is responsible to pay all associated third party fees and charges. 
    • The Borrower should consult a tax advisor regarding the deductibility of interest and charges for the Home Equity Loan.

    Please call your local Kitsap Bank Branch for additional details.



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