Home Equity Loans

Planning to tackle some home improvements or working to consolidate some debt? Increase your financial flexibility with a Kitsap Bank Home Equity Loan or Powerline Home Equity Line of Credit. Both options offer appealing rates and terms. Best of all, some of the interest can be tax-deductible*.

*Consult a tax advisor regarding the deductibility of interest.

Kitsap Bank NMLS - 454067

Home Equity1

Loan SolutionLTV APR Term  
1st Deed of Trust - $50,000 - $300,000 (A)Up to 80%4.25% - 5.00%Up to 180 monthsApply Now
1st or 2nd Deed of Trust - $25,000 - $49,999 (B)Up to 80%4.50% - 5.25%Up to 120 monthsApply Now
2nd Deed of Trust - $50,000 - $300,000 (C)Up to 80%4.50% - 5.25%Up to 180 monthsApply Now
Call for Quote if loan amount is > $300,000 or the 1st and 2nd liens combined are > $424,100. 
  • 1 APR = Annual Percentage Rate
    • Subject to Credit Approval.
    • Your actual rate and payment amount may be different as determined by your collateral, term, loan amount and credit qualifications.
    • Owner occupied detached Single Family Residential homes in the State of Washington only. Other collateral limitations may apply.
    • No Loan Fee. Borrower pays all closing costs to include flood determination, title policy, credit report, recording fees, and appraisal.
    • Closing costs paid by the bank up to $500.00 on all loans ≥ $50,000 with credit score of 720 or higher.
    • Prepayment penalty of $500.00 for loans paid within the first 24 months.
    • Typical loan payment examples are as follows: (A). $376.14 per month, based on 15 year, $50,000 loan at 4.25% APR. (B) $259.10 per month, based on 10 year, $25,000 loan at 4.50% APR. (C) $382.50 per month, based on 15 year, $50,000 loan at 4.50% APR.
    • Payments do not include amounts for taxes and insurance premiums.
    • Property insurance required, flood insurance may be required if applicable.

     

Powerline Home Equity Line of Credit1

Loan SolutionLTV APR Term Loan Amount  
1st Deed of Trust Owner Occupied (A)Up to 80%5.00% *60 Months$100,000 - $424,100Apply Now
1st or 2nd Deed of Trust Owner Occupied (B)Up to 80% CLTV5.25% *120 months$25,000 - $300,000Apply Now
1st Deed of Trust - Non Owner Occupied (D)Up to 65% to 75%6.00% *120 Months$25,000-$750,000Apply Now
1st or 2nd Deed of Trust - Second Home (C)Up to 70% - 75% CLTV5.25% - 5.75% *120 Months$25,000 - $1,500,000Apply Now
  • 1 APR = Annual Percentage Rate
    • Subject to Credit Approval.
    • Your actual rate and payment amount may be different as determined by your collateral, term, loan amount and credit qualifications.
    • Rates are subject to change depending on market conditions and may increase after consummation.
    • * Variable rate based on The Wall Street Journal Prime Rate of 5.00% as of 6-14-18 plus a margin of 0.00% or 1.00%. (Maximum APR 18%)
    • Estimated interest only loan payment examples are as follows: (A). $4.17 per month, for each $1,000 advanced at 5.00% APR. (B) $4.38 per month, for each $1,000 advanced at 5.25% or APR. (C) $4.38 per month, for each $1,000 advanced at 5.25% APR to $4.79 per month, for each $1,000 advanced at 5.75% APR.  (D) $5.00 per month, for each $1,000 advanced at 6.00% APR.  Interest only payments will result in a balloon payment due at maturity. (Maximum interest only payment $15.00 per month, for each $1,000 advanced at 18% APR.)
    • Rate to float monthly with a floor established at origination depending on the lien position, loan amount and term; maximum of 18% APR.
    • Detached Single Family 1 - 4 Residential homes in the State of Washington only.  Other collateral limitions may apply.
    • No loan fee.  Borrower pays all closing costs to include flood determination, title policy, credit report, recording fee and appraisal.  These third party fees generally range between $560.86 and $5,314.01.
    • Closing costs paid by the bank up to $500.00 on owner occupied loans loans ≥$50,000 with credit score of 720 or higher.  (Second Homes and Non-Owner Occupied requests pay all fees.)
    • Prepayment penalty of $500.00 for loans paid within the first 24 months.
    • Property insurance required, flood insurance may be required if applicable.

      **Call for Quote if the 1st lien or the 1st and 2nd liens combined are greater than $424,100.

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