Loans and Lines of Credit

Borrowing money is a customary part of managing your finances. This is often true even if you have cash available; sometimes it’s better to conserve your cash and get a loan instead of spending it.

Tackle the Unexpected

Financing for whatever life has in store. We offer Home Equity Lines of Credit (HELOCs), personal loans, and personal lines of credit for when you need access to additional funds for your big house project, unexpected life event, or midlife re-awakening.

Trying to decide which option is best for you? Give us a call or visit one of our convenient Puget Sound branches.

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Home Equity Lines of Credit

If you own your home, it may be the key to cost-effective borrowing. The value in your home over and above what you owe on your mortgage is referred to as equity. Borrowing against your home’s equity can be a simple way to access funds as needed.

Borrowing against home equity can have a big advantage over other types of loans: the interest you pay may be tax-deductible*. We can lend up to 80% of your home’s current value at a competitive interest rate. Plus, because it is a line of credit, you can access money when you need it, pay it down, then access it again.

Learn more about HELOCs or contact your local branch for more information.

* Be sure to consult your tax advisor to see how this applies to you.

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Marine loans

Whether spending weekends floating on Lake Washington or cruising in the Sound, boat ownership can be an affordable luxury for many Northwest families. If you’re ready to start boating, let 1st Security Bank help get you there with a boat loan.

We support all marine dealer purchases. Consider getting pre-approved before shopping for a boat so you know up front how much you can afford.
We will use the boat you purchase as collateral. This means we will be on the boat’s title as the legal owner of the boat until you pay the loan in full.
Our boat loan features competitive interest rates and loan terms to fit your budget.

To apply, call or visit any of our branches. We will be happy to answer your questions and walk you through the quick and easy application process.

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Personal Loans and Lines of Credit

Few of us are lucky enough to always have money available when we need it. For those occasions when you’re a little short, a Personal Loan or Line of Credit may be the answer. Used for practically anything – from an unexpected purchase to overdraft protection, Personal Loans and Lines of Credit offer great flexibility without requiring a lot of collateral.

Personal Lines of Credit (PLCs) are best for short-term needs such as overdraft protection. Our PLC is unsecured and can be used again and again, whenever the need arises.
Personal Loans may be secured by titled collateral (car, boat, etc.), secured by a CD account at the bank, or unsecured. You can expect to pay more in interest for unsecured credit. Whether you borrow the money for 12 months or 60 months, repayment will be in equal installments.