Home Equity Lines of Credit (HELOC)
Access funds when you need them with a flexible Home Equity Line of Credit (HELOC). Competitive Michigan rates and personalized service await!
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 Mar 9, 2026
APR as low as* |
|---|
Variable Rate HELOC |
6.25% |
Fixed Rate HE Term Loans |
7.24% |
*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 reimbrse the credit union for the bona fide fees paid on your behalf.
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.
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.
Frequently Asked Questions
HELOC FAQ
Get answers to your questions about HELOCs.
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.
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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.
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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.
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