Personal

Home Loans

Mortgage

Please note, our response times may take longer than usual as we are currently experiencing a high volume of mortgage inquires. We appreciate your patience during this time.

Are you thinking about buying your dream home?  Or perhaps you are looking to upgrade your existing home to align with your dreams. In either case, Clackamas is in your corner. We’ll work to understand your needs and guide you through your purchase or refinance. Even if you’re still in the dreaming and planning stages, we want to hear from you and help you develop a financial roadmap for your goals.

Home Equity Line of Credit

You can use the equity3 in your home to pay for home improvements, medical expenses, tuition, debt consolidation, and more.  Our home equity line of credit (HELOCK) offers a personalized solution to use the equity in your primary or secondary (vacation) residence. We offer a revolving line of credit up to 90% of the value of your home, and you can lock your balances into convenient, fixed-rate terms4. Not sure where to start? Just ask. We’re happy to help.

Already a Clackamas member and want to apply for a HELOCK? Click below to get started!

Looking to become a Clackamas member and also apply for a HELOCK? Click below to get started!

Rental Equity Line of Credit

With our rental equity line of credit (RELOC) you can enjoy a revolving line of credit on up to 75% of the value of your rental property3. Low, competitive, variable rates with a simple application process. Plus, you will have a two-year draw period with interest-only payments and no pre-payment penalty.

Already a Clackamas member and want to apply for a RELOC? Click below to get started!

Looking to become a Clackamas member and also apply for a RELOC? Click below to get started!

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Home insurance

As a Clackamas member, you can get discounts on home insurance. We’ve partnered with the dedicated professionals at CUNA Mutual Group, bringing you policies from carefully-selected insurers with online services and 24/7 claims service through TruStage1.

Mortgage rates that fit

Your financial needs are unique. We have many interest rate options available, and our mortgage experts would be glad to work with you to determine the rate that fits your situation and furthers your goals.

DIY Numbers

Answers for your questions.

Yes. An appraisal establishes the value of your home. Since we can’t issue a loan for more than your home is worth, we need this information in order to move forward. We’ll schedule the appraisal while reviewing your loan application.

How you’ve handled your finances in the past helps us understand what to expect in the future. That’s why a good score can help you qualify for a better interest rate or possibly a lower minimum down payment.

That said, your credit score is only one consideration in the lending process. Other considerations include your income, your monthly payment obligations, the loan program you select and the size of the loan compared to the value of your home or the home you want to purchase.

At Clackamas, we’ll work with you to understand your entire financial profile to ensure you get the loan and the rate that’s right for you.

Yes. Your regular monthly payment is a combination of principal and interest. If you want to make a payment  exclusively on your principal balance, you can include money in addition to your regular monthly payment and designate it as a principal payment. We design our loans to make this easy, should you want to do so. By making extra principal payments, you can pay off your mortgage sooner and save money on interest.

Yes, it’s called a cash-out refinance. With this type of refinance, you can pay off your existing mortgage(s), pay off debts to simplify your financial situation, or get money for home improvements, college, weddings, or just life.

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