Let your equity do the work

Ready to get started on a remodel? Or, maybe you want to consolidate some bills. You may be surprised by how much equity your home has accrued over a short time. Sound can help you turn your home into a resource that works for you. We have three fixed rate equity loan solutions that may be right for you:

30/7 Home Equity:

• Fixed rates
• 7 year term* -after 7 years simply rewrite
  the loan with Sound or pay it off in full.
• Borrow up to 70% of your home's equity
• No upfront fees
• Lowest monthly payments amortized over 30 years

5, 10 and 15 year Home Equity:

• Fixed rates
• Flexible terms gives members the choice for how to repay the loan. We offer loan repayment options that will give the member 5 years or up to 15 years to repay
• Borrow up to 100% of your home's equity
• No upfront fees

We also have variable rate Home Equity Lines of Credit available.
Borrow from your home's equity** and turn it into that new kitchen, that family vacation, or anything else you've been dreaming about. One of the best parts is that your interest costs are usually tax-deductible.***

Ready? Applying is easy. Choose the option that works best for you.

• Apply online
• Call (253) 383-2106 or (800) 562-8130
• Visit your local branch

Soon your home will be working for you!

APR is Annual Percentage Rate. All loans are subject to credit approval. Your rate and credit limit will be determined based on individual creditworthiness including income, debt ratio, and employment. Verification of income may be required. Must be 18 years of age to qualify for a loan. Must be a Sound Credit Union member to participate. Anyone who lives or works in WA can join. Membership at Sound requires a savings account with a minimum balance of $25.

*30/7 Home Equity Loan: This loan has a balloon payment feature, and the minimum monthly payments will not pay the loan in full by the maturity date. At the maturity date, a member will have to pay the entire outstanding balance from their own resources, or take a loan with either Sound Credit Union or another lending institution.

Home Equity Loans: Homeowners insurance is required. A $345 early closure fee is applied if the loan is closed within the first 24 months. Maximum loan amount is determined by the amount of equity in your home. The annual percentage rate includes only interest and no other costs and is based on the value of an index. This index is the Prime Rate published in the Wall Street Journal and is current as of 1/1/11 and could change at any time. Sound will use the most recent Index available as of 5 days before the date of any change to the Annual Percentage Rate. To determine the Annual Percentage Rate, which will apply to your account, a margin will be added to your current Index rate.

In no event will the Annual Percentage Rate be less than 4.49% or more than the lesser of 18% per annum of the maximum rate allowed by applicable law.

**Borrow up to 100% of appraised value for Fixed Home Equity loans and Home Equity Lines of Credit. For fixed home equity and home equity line of credit: 90% financing, $50,000 maximum; 100% financing, $25,000 maximum. Borrow up to 70% for 30/7 Home Equity Loans. Non-owner occupied and manufactured home fixed home equity rates are 1.50% higher than rates listed above; maximum LTV 70% with a maximum loan amount of $50,000.

***Consult your tax advisor.