Consolidate Debt
Renovate your home
Pay off student loan debt
Cover unexpected expenses
What is a Home Equity Loan?
A home equity loan allows you, as a homeowner, to borrow money by using the equity in your home as collateral. When you take out a home equity loan, you can choose a revolving line of credit – Home Equity Line of Credit – or a fixed-rate loan for a specified term length – Fixed-Rate Home Equity Loan.
Which option is best for you?
Benefits of a
OneAZ Fixed−Rate
Home Equity Loan
.50%
rate discount1
-
No surprises: Your rate remains the same for the life of your loan.
-
Predictable budgeting: Your payment will be the same every month so you can plan your budget ahead of time.
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Perfect for one-time expenses: Since you take out a lump sum up front, this loan is ideal for known one-time expenses, like a major home renovation or debt consolidation.
Benefits of a OneAZ
Home Equity Line
of Credit (HELOC)
-
Flexible borrowing:If you need more funds than you thought, you’re able to borrow and repay funds as needed during the draw period.
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Pay less up front: A HELOC may have lower initial closing costs compared to a fixed home equity loan.
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Perfect for ongoing expenses: If you plan to use the loan for ongoing home improvements, education costs or emergency expenses, a HELOC may be more ideal for you.
| Fixed-Rate Home Equity Loan | Home Equity Line of Credit (HELOC) | |
|---|---|---|
| Interest Rate Structure | Fixed interest rate | Variable interest rate |
| Monthly Payment | Remains the same | Varies |
| Access | Receive lump sum up front | Borrow as needed |
| Repayment Terms | Monthly payment over a 5-, 10-, or 15-year term | Monthly payments calculated based on current balance and a 25-year amortization |
| Interest Cost | You know exactly how much you'll pay | Overall borrowing costs may increase or decrease if rates rise or fall. |
| Closing Cost | Homeowner is responsible | Typically covered by OneAZ |
See today’s home equity loan rates.
View the current rates for
home equity loans and HELOCs.
How to Apply for
a Home Equity Loan
Visit your local OneAZ branch, apply online or give us
a call to start maximizing your home’s value.
Apply Online
Apply for a loan online using the links below!
HELOC Calculator
Estimate the potential HELOC limit you could be approved for using a mortgage total, unpaid balance, and Loan to Value (LTV) with our HELOC calculator.
Home Lending Resources
At OneAZ, we want you to have the tools and the knowledge to make confident, smart decisions about your finances.
How to Get a Home Equity Loan
Before applying for a home equity loan, lenders will need to see you have equity in your current home.
Keep ReadingHome Remodel on Any Budget
Whether you’re starting small with a kitchen refresh or overhauling your entire house, check out these tips for making your home great on any budget.
Keep ReadingHow Does a Home Equity Loan Work?
A home equity loan is a lump-sum installment loan guaranteed by the equity in your home.
Keep Reading
Need More Information?
Chat with a loan expert about your needs. Call or email anytime.
1The .50% Rate Discount is from the standard posted interest rates for the OneAZ Second Mortgage Fixed Rate Equity Loan Products. Additionally, the rate discount is valid for the full duration of the loan term. Conditions apply. Rates and terms are based on your credit worthiness, final loan amount, combined loan to value (CLTV) and are subject to change at any time.
In order to qualify for the interest rate discount, you will need to agree to the following: Become a OneAZ Member, open a OneAZ Checking Account, establish a $500 Biweekly or $1,000 Monthly Direct Deposit and set up Auto Pay for the new loan. The Minimum Monthly Direct Deposit(s) and Auto Pay requirements must both be to/from the OneAZ Checking Account.
Eligible Properties: Single Family Residences, PUDs (Planned Unit Development), Owned Occupied Duplexes, Townhouses.
Ineligible Properties: Condos, Manufactured Homes, Rental Properties, Second Homes, Triplex/Fourplex Multi-Unit Properties, Investment Properties, Out of State Properties, Commercial.
