Fixed Rate Home Equity Loans

You've worked hard to earn the equity in your home. Why not put your home's equity to work for you?

Fixed Rate Home Equity Loans


Wish to refinance your home with us, or to take out a second mortgage? An OTIS Fixed Rate Home Equity Loan may be right for you!


Did you know that you can utilize the equity in your home to:
  • Tackle home maintenance projects?
  • Cover unexpected expenses that exceed your emergency fund?
  • Consolidate and pay off higher-interest debt at a lower interest rate?
  • Finance higher education or a wedding?
  • And more!

Home equity loans allow you to borrow a fixed amount for a fixed term (up to 20 years) at fixed rate based on the equity of your home. Your payment and interest rate will not change throughout the term of the loan.


We lend up to 80% of the appraised value of your home, minus any other mortgages you may have. Interest rates are based on the length of time financed and your credit score. A weekly payment structure can cut your overall interest cost.


Fees associated with a home equity loan at OTIS are minimal. They include an appraisal, title search, flood determination and recording of the deed. The total cost is approximately $650. We have no application fee, no credit check fee, and no other processing fees of any kind.


 Kariss RichardsLoan OfficerExtension 128
Jamie TurcotteLoan OfficerExtension 124
Caitlin LakeLoan OfficerExtension 108
Darice DubreuilVP of LendingExtension 118

Home Equity Rates

Real Estate Loan Rates

Secured by Real Estate

Rates effective 8/1/2018

Loan TermAnnual Percentage RateSample Payments per $10,000 borrowed
1-5 years as low as3.00% APR*$179.00 for 60 months
5-10 years as low as3.90% APR*$100.00 for 120 months
11-15 years as low as4.85% APR*$78.00 for 180 months
16-20 years as low as5.25% APR*$67.00 for 240 months

Home Equity Line of Credit

Rates effective 10/1/2018

Variable Rate as low as5.25% APR**Minimum payment: $100 or 1.50% of
Balance after latest
Advance whichever is greater

*(APR) Annual Percentage Rate. Above Real Estate Rates are subject to change without notice. No finance charge fees apply.
** Annual Percentage Rate of Home Equity may vary monthly. The rate is the Wall Street Journal Prime Rate as published on the last business day of the month. The maximum annual percentage rate that may be imposed on a Home Equity Loan is 18.00% APR. No finance charge fees apply, membership eligibility required, and property insurance required. Minimum advance of $500.

It's Easy to Apply!

Just stop in at the credit union and talk to one of our friendly loan officers to see if you qualify.*

*Please bring your current mortgage statement, current deed, pay stub (if joint, for both), insurance policy with premium and property tax bill.