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.

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Home Equity1

Loan SolutionLTV APR Term Loan Amount  
Fixed Home Equity Term LoanUp to 80%as low as 5.341%Up to 180 monthsLimits $25,000-$1,500,000Apply Now
  • 1
    • APR is based upon a $150,000 loan amount, 15-year loan term and rate as low as 5.250%

    • Minimum Credit Score of 720

    • Owner Occupied Property

    • 1st DOT  Single Family Residential property

    • Loan to Value (LTV) <= 80%.

    • Product also available for different Loan term, Credit Score, Occupancy type, Deed position and  Property type

    • Please call your local Kitsap Bank Branch for additional details

    • Changes to Loan amount, Loan term, Credit Score, Occupancy, Deed position, Property type or Loan to Value (LTV) may affect the APR.

     

Powerline Home Equity Line of Credit1

Loan SolutionLTV APR Term Loan Amount  
Home Equity Power Line of CreditUp to 80%as low as 5.250%up to 120-monthsLimits $25,000-$1,500,000Apply Now
  • 1
    • APR is based upon a $150,000 loan amount

    • Minimum Credit Score of 720

    • Owner Occupied Property

    • 1st DOT Single Family Residential property

    • LTV <= 80%.

    • Product also available for different Loan term, Credit Score, Occupancy type, Deed position and  Property type

    • Please call your local Kitsap Bank Branch for additional details

    • Changes to Loan amount, Loan term, Credit Score, Occupancy, Deed position, Property type or loan to value (LTV) may affect the APR.

    • Owner Occupied only - The Bank will pay all of the initial third party fees such as but not limited to appraisal, credit reports, recording fees, flood determinations, title and escrow fees. 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 $560.86 and $5,314.01 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.

    • Second Homes and Non Owner Occupied requests, the borrower is responsible to pay all associated third party fees and charges which generally total between $560.86 and $5,314.01.

    • Second Homes and Non Owner Occupied requests are subject to a prepayment penalty of $500.00 for loans paid within the first 24 months.

    • Property insurance required and flood insurance may be required if applicable.

    Fixed Rate Option Feature for Owner Occupied Only

    • 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.

    • Contact your local branch for the rates available for the Fixed Rate Options.

    • You should consult a tax advisor regarding the deductibility of interest and charges for the Home Equity Line of Credit.

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