When homeowners need flexible financing, a Home Equity Line of Credit (HELOC) stands out as a versatile and cost-effective option. Unlike lump-sum loans or high-interest credit cards, a HELOC offers access to funds as needed – making it ideal for everything from remodeling to emergency expenses.

But what really sets a HELOC apart? It’s not just about borrowing – it’s about borrowing smarter.

Why a HELOC Is Different

• Flexible Credit, On Your Terms – A HELOC works like a revolving line of credit, meaning you can draw from it multiple times during the draw period, repay, and reuse. You only pay interest on the amount you use.

• Competitive Interest Rates – Because HELOCs are secured by your home, they often offer significantly lower rates than unsecured credit options—ideal for big purchases or strategic debt payoff.

• Interest-Only Payment Options – During the draw period, most HELOCs allow for interest-only payments, reducing your short-term payment obligations while giving you breathing room for larger plans.

• Reusable and Renewable – Unlike personal loans, which are closed once repaid, a HELOC can be reused as needed—perfect for ongoing projects or phased expenses.

Convenient Access to Your Funds

Most HELOCs, like the ones from First Fed, are designed for ease of use, giving you multiple ways to access your funds:

• Debit Card: Make purchases or withdrawals directly from your HELOC, just like with a checking account.
• Checks: Write checks for large expenses like contractor fees or tuition payments.
• Online Transfers: Move money to your primary checking account or pay bills online in just a few clicks.
• ACH Payments: Send funds directly from your HELOC to external accounts or vendors.

Whether you’re upgrading your home, investing in your business, or just creating a financial safety net, a HELOC gives you access to the equity you’ve earned—on your terms.

Real Customers, Real Benefits

Across Western Washington, First Fed customers are using HELOCs to fund their goals:

• Consolidating high-interest debt
• Buying land and/or future home construction

“We purchased a piece of land in Hansville about 5 years ago. We realized we had some equity in our personal residence to get a HELOC. We used our HELOC to build a vacation home using HiLine homes as the initial builder. This was a much easier process than a construction loan!” – Jamie T. from Hansville

• Renovating kitchens and bathrooms

“Our remodel priorities focused on “age in place” features, including transforming our main bathroom into an ADA accessible space with tiled floors and a zero-rise shower entry. When a recent health crisis placed my husband in a wheelchair for several months, we were blessed to appreciate those upgrades much sooner than we could have anticipated. Life truly is what happens when you are making other plans.” – Colleen H. from Bremerton

• Investing in small business growth

“We were staring down the barrel! We had sold our home on Bainbridge Island and purchased another home in Gig Harbor with a healthy down payment and plenty of equity. Problem was, we had a balloon payment coming due on some commercial property we owned and needed the line of credit to complete the commercial property payoff. If the balloon wasn’t paid off, we would sustain serious penalties, possible foreclosure, etc.

We reached out to First Fed and within thirty minutes they had set us up with both a new HELOC and sufficient funding to meet our needs and then some. Thank you, First Fed, for coming to our rescue and being our future banking partner.” – Lee J. from Gig Harbor

• Emergency fund for unexpected expenses

‘Our roof sprung a leak, but we had a hero on our side: the First Fed Home Equity Line of Credit we had opened but never used. With that HELOC we could take quick and fearless action to get a new roof installed right away.” – Richard Q. from Sequim

• Covering education or medical expenses

“I was in dire need of dental work, so I used my home equity funds to get much needed teeth pulled, as well as bottom denture implants. Now I’m finally out of pain! I also used some funds for a kitchen renovation to bring it up to date.” – Tanna M. from Port Angeles

Ready to Put Your Equity to Work?

A HELOC from First Fed offers flexibility, competitive rates, and easy access—backed by local expertise and personal guidance. If you’re ready to make your next move, talk with a First Fed lending specialist today.

First fed is a Member FDIC and Equal Housing Lender.