Get Inspired
A hub of stories, knowledge and resources that help shape financial futures and a better community.
HELOC Promotional Rates
Don't put your dreams on hold.
Borrow up to 100% of your home's value and take on whatever expenses come your way with a fee-free HELOC at orsa. From regular maintenance to all-out remodels, we got you.
Why Choose a HELOC from orsa credit union?
A Home Equity Line of Credit (HELOC) lets you borrow against the equity in your home and access funds as needed. Enjoy competitive rates, flexible repayment terms, and the benefits of working with a credit union that puts you first. Whether you're consolidating debt, funding home improvements, or covering unexpected expenses, a HELOC can be the perfect solution.
With a HELOC from orsa credit union, you can access funds when you need them. Unlike traditional loans, you only pay interest on the amount you borrow, not the full line of credit.
Apply Today
Our flexible terms and competitive rates ensure you save money while achieving your financial goals.
About HELOCs
How Do HELOCs Work?
A Home Equity Line of Credit (HELOC) offers flexible access to funds, sorta like a credit card—get approved for a specifc amount, borrow what you need, and only pay interest on the amount you acutally use. As you pay your balance back, that credit becomes available again for future use.
Our HELOCs feature a variable rate and a 5-year draw period and a 20-year repayment term. While in the draw period, your required minimum payment is just the interest you’ve accrued in the previous billing cycle!
Why go with orsa?
- Local and Member-Focused: At orsa, you're not just a customer—you're a member. We offer personal service to help you make the most of your home’s equity.
- Lower Rates & Fees: As a credit union, we can offer better terms than traditional banks, helping you save more over time.
- Community Investment: Your success helps support local growth and community initiatives.
Home Equity Loan Rates
Date Updated July 14, 2026
Variable Rate HELOC |
|---|
APR* as low as 6.25% 4.75% Promo rate—existing HELOCs 5.25% Promo rate—new HELOCs |
Fixed Rate HE Term Loans |
APR* as low as |
*Home Equity Lines of Credit: Annual Percentage Rate (APR) is based on a $25,000+ line of credit, 80% Loan to Value (LTV) and an excellent credit score. Estimate assumes a 0.25% discount for a monthly direct deposit of at least $100 into an orsa account. Rates are based on the published Wall Street Journal Prime Rate and subject to change without notice. Additional rates available based on loan amount, LTV and individual credit history. Maximum rate 25.00% APR, minimum rate 2.00% APR. If you close your line of credit plan within the first 24 months you will be required to reimburse the credit union for the bona fide fees paid on your behalf.Insurance: You may be required to maintain insurance on the property securing this line of credit.Fees and charges: Fees associated with this account may range from $0.00 to $3,000. You may be required to pay certain fees to third parties to open the plan. These fees generally total between $50.00 and $300.00. There are specialty loan programs that have fees that range between $1,500.00 and $3,000.00. If you request, we will provide you with an itemization of the fees you will have to pay to cover third party expenses.Home Equity Term Loans: APR is based on a $25,000 loan amount, 60 month term, 80% LTV, and an excellent credit score. Estimate assumes a 0.25% discount for a monthly direct deposit of at least $100 into an orsa account. Actual rate based on loan amount, LTV, term and individual credit history. A 60 month term would result in 72 payments (then we need to provide the actual payment amount or the way they are calculated). As well, if there is any balloon payment at the end of the term, this must be explicitly stated. Even if the standard product does not have a balloon, if any version of the loan offered could result in one, it must be addressed.
Frequently Asked Questions
HELOC FAQ
Get answers to your questions about HELOCs.
A Home Equity Line of Credit (HELOC) allows you to borrow funds against the equity in your home, offering flexibility and lower interest rates than many other loan options.
A HELOC allows you to borrow against the equity in your home. It works a bit like a credit card—you’re approved for a specific amount and can borrow what you need. You only pay interest as you borrow, and your credit becomes available again as you repay.
The biggest advantage of a HELOC is the flexibility! During your 5-year draw period, your minimum payment is simply the interest from your previous billing cycle—so you can get the funds you need now with plenty of time to plan for repayment.
A HELOC (Home Equity Line of Credit) and a home equity loan both allow homeowners to borrow against the equity in their property, but they work differently:
HELOC: This is a revolving line of credit, similar to a credit card, where you have access to a specific credit limit. You can borrow, repay, and borrow again as needed during the draw period. HELOCs typically have variable interest rates, meaning the rate can change over time.
Home Equity Loan: This is a lump-sum loan with a fixed interest rate and fixed repayment terms. You receive the full loan amount upfront and pay it back in regular installments over a set period of time.
To qualify for a HELOC, orsa credit union will typically consider the following factors:
- Equity in Your Home: A higher the loan-to-value ratio requires a stronger credit profile. For optimal loan pricing, your balance(s) should be no more than 80% of your home’s value.
- Credit Score: We do not have a minimum credit score requirement for approval, though a higher score may help you secure better rates.
- Income and Employment: You may be asked to show proof of employment or stable income during your loan application process.
- Debt-to-Income Ratio: This ratio compares your monthly debt payments to your income. A lower ratio is beneficial to your loan application process.
- Home Appraisal: Your home may need to be appraised to determine its current market value and the amount of equity available.
Unlike a traditional loan, a HELOC offers flexible borrowing, low rates, and the ability to reuse the line of credit as you pay it down.
Home Equity Loan Options
Home Equity Loan Options
Prefer a home equity term loan instead?
If you’re looking for a one-time lump sum with fixed rates and predictable payments, a Home Equity Loan might be the right choice for you. Secure a specific amount of money upfront and pay it back over a set term with a fixed interest rate. It’s a great option for those who know exactly how much they need and prefer the certainty of fixed payments.
Home is where the Belonging is
News
Additional $220k secured for affordable housing in Michigan
In 2024, we committed $60,000 to purchase over 20 acres of land destined for affordable housing in northeastern Michigan. Thanks to their relentless pursuit of doing the right thing, it was only the beginning…
News
Expanding and Preserving Homeownership in Otsego-Antrim Habitat for Humanity
Home repair is a critical part of ensuring safe and stable housing for individuals and their families. The Relentless Care Foundation is honored to support Otsego-Antrim Habitat for Humanity with a $10,000 grant to further their critical home repair program.
News
Expanding Access to Affordable Housing in Michigan
We partnered with Samaritas to expand access to affordable housing across Michigan.
Apply for a HELOC Today
Whether you're looking to consolidate debt, make home improvements, or cover unexpected expenses, our competitive rates and personalized service make accessing the equity in your home easier than ever.
Current Mortgage Holders
Need help with an existing mortgage?
If you need to chat about your current orsa mortgage, our mortgage servicing team is here for you!
Loans From orsa
Other loan options
Looking for a different kind of loan? We offer a wide range of borrowing solutions to fit your needs, including personal loans, home equity lines of credit, and more.
You are Enuff®
Looking to make your Impossible Dreams possible? Your membership can help make it happen!
What We Do
Making Impossible Dreams come true on the daily.
Wherever you are on your financial journey, you Belong here.
Maximum APR: The maximum Annual Percentage Rate (APR) that could apply to this account is 25%.
Fees and charges: Fees associated with this account may range from $0.00 to $3,000.You may be required to pay certain fees to third parties to open the plan. These fees generally total between $50.00 and $300.00. There are specialty loan programs that have fees that range between $1,500.00 and $3,000.00. If you request, we will provide you with an itemization of the fees you will have to pay to cover third party expenses.Existing Borrowers:
Existing HELOC borrowers must enroll in the promotion and meet all eligibility requirements. To qualify for the promotional rate, you must obtain qualifying HELOC advances totaling at least $10,000 during a single business day on or before December 31, 2026. Advances made on different business days cannot be combined to meet the qualification requirement. The promotional rate applies only to qualifying new advances and does not apply to existing HELOC balances. The promotional rate will remain in effect until through April 15, 2027, after which any remaining promotional balance will automatically convert to the standard variable APR applicable to your HELOC. Additional terms, conditions, and exclusions apply. See Promotional Advance Addendum for complete details.New HELOCS:
Promotional Rate available on qualifying new HELOCs. To qualify, advances totaling at least $10,000 must be requested and funded on a single business day on or before December 31, 2026. The promotional rate applies only to qualifying advances funded on the day the qualification threshold is met and remains in effect through April 15, 2027. Thereafter, any remaining promotional balance will accrue interest at the standard variable APR applicable under the HELOC Agreement. Additional terms, conditions, and exclusions apply. See Promotional Advance Addendum for complete details.