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Last Updated: 04/18/2025

Puget Sound Cooperative CU Home Equity Line of Credit

from Puget Sound Cooperative Credit Union

Last Updated: 04/18/2025

Puget Sound Cooperative Credit Union logo
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Highlights

Credit Score Range

N/A


Amount Range

N/A


Maximum LTV

80%

Minimum Draw

$1,000

Loan Term (Years)

Up to 15

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Puget Sound Cooperative CU Home Equity Line of Credit Review

Puget Sound Cooperative CU Home Equity Line of Credit is offered by Puget Sound Cooperative Credit Union (NMLS #619183), a credit union founded in and based in Bellevue, WA. Puget Sound Cooperative CU Home Equity Line of Credit are available in 50 states and Washington, DC.

Key Takeaways

  • Only primary residences considered. Puget Sound Cooperative CU Home Equity Line of Credit does not offer financing for vacation homes or investment properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • Maximum LTV. Puget Sound Cooperative CU Home Equity Line of Credit has a maximum loan to value ratio of 80%.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Puget Sound Cooperative CU Home Equity Line of Credit.

Puget Sound Cooperative CU Home Equity Line of Credit Pros & Cons

Puget Sound Cooperative CU Home Equity Line of Credit FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit secured by your home. Once approved, you can access funds by check, phone, credit card, or online up to your credit limit.
Borrowers can apply for lines of credit of up to $500,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.
The maximum loan-to-value (LTV) ratio goes up to 80%. This means total debt secured by the property cannot exceed this percentage of its value. For example, on a $100,000 home with a $20,000 mortgage balance, you may qualify for up to $60k in credit.

Is there a minimum draw requirement?

Yes. The minimum draw requirement is $1,000.00.

What fees does Puget Sound Cooperative CU Home Equity Line of Credit charge for a HELOC?

Puget Sound Cooperative CU Home Equity Line of Credit may charge an origination fee.

What types of property can you use as security for a HELOC with Puget Sound Cooperative CU Home Equity Line of Credit?

Puget Sound Cooperative Credit Union may consider HELOCs secured by the following property types:
  • Primary residences

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

11201 SE 8th St
Suite 208
Bellevue, WA 98004
(425) 283-5151
Visit Site

Hours of Operation

Sunday
Closed
Monday
8:00AM - 4:00PM
Tuesday
8:00AM - 4:00PM
Wednesday
8:00AM - 4:00PM
Thursday
8:00AM - 4:00PM
Friday
8:00AM - 4:00PM
Saturday
Closed

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SuperMoney Net Recommendation Score

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The recommendation score reflects customer satisfaction with a provider. A score of +100 means every customer recommends the provider, while -100 means none of them do. These scores are based entirely on community member votes and are not influenced by partner compensation. SuperMoney removes fake reviews when detected.

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