Home Equity Loans

A loan for just about every purpose.

Whether for a new kitchen or rec room, a vacation, consolidating debt, education expenses, new car or for just about any purpose, a home equity loan can be the answer while also offering possible tax advantages.** Ours come with no points, no closing costs and no annual fees.** And, unlike many institutions that make you pay the old-fashioned way…monthly, or charge you a fee to pay more frequently, at Wave you can set up a weekly, bi-weekly or monthly payment plans and you can change it at any time…without penalty. You can also choose to pay interest only* or principal and interest.

So whether you are interested in a variable rate plan or a fixed-rate plan, put it on the house and let us help design the right loan program for you. Applying is easy; just bring in your verification of income, proof of ownership and an insurance binder and we’ll help with the rest. We can even provide a pre-approval within 24-hours.

Click Here For Current Home Equity Rates

Fixed Rate Home Equity Loans

Wave home equity loans have fixed rates, set monthly payments and no annual fees or closing costs. 

**They are ideal for borrowing a large amount at once and paying a pre-determined monthly amount.

Variable Rate Home Equity Lines

Wave variable rate home equity lines can be accessed by simply writing a check or transferring funds via Wavenet, Waveline or a simple telephone call. You pay only on the amount you use and at a rate based on the Prime Rate. You can also choose to pay interest only or principal and interest. There are no annual fees or closing costs.

**** Minimum borrowing requirements may apply

Fixed Rate Home Equity Loans

Wave home equity loans have fixed rates, set monthly payments and no annual fees or closing costs. They are ideal for borrowing a large amount at once and paying a pre-determined monthly amount.

Current borrowers can refinance with a minimum of $25,000 in new money to waive closing costs.

Home Equity Line Of Credit

Wave variable rate home equity lines can be accessed by simply writing a check or transferring funds via Wavenet, Waveline or a simple telephone call. You pay only on the amount you use and at a rate based on the Prime Rate. You can also choose to pay interest only or principal and interest. There are no annual fees or closing costs.

** Minimum borrowing requirements may apply

Optimizer Home Equity Loans

Wave optimizer home equity loans have fixed rates, set monthly payments and no annual fees or closing costs.

*Available for qualifying properties, first lien position equity, with a loan-to-value (LTV) of 80% or less, and a maximum repayment period of 144 months. Other rates and terms available. Property insurance (and flood insurance if applicable) required. Rates subject to change without notice. Account subject to individual approval. Current borrowers can refinance with a minimum of $25,000 in new money to waive closing costs.

 

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* APR = Annual Percentage Rate.
** Offer based on individual credit worthiness. Variable rate of interest as low as Prime minus 0.75% as published in the Wall Street Journal 30 days before the date of any rate adjustment. As of 11/3/22, Prime Rate was 7.00%. Interest rate and line amount determined by individual creditworthiness and subject to loan-to-value ratio of 80%. Offer limited to 1-4 family owner-occupied primary residence properties only. Property insurance (and flood insurance if applicable) required. Offer and rate is subject to change at any time without notice. Other terms and restrictions may apply. APR will not exceed 18% with a minimum APR of 6.25%. Existing Wave FCU loans are eligible with at least a $25,000 line increase. Applicable trust review fees may apply.

Wave FCU Main Branch

Address: 480 Greenwich Ave, Warwick, RI 02886

Phone: (401) 781-1020
Fax: (401) 562-1290

Warwick Avenue Branch

Address: 1217 Warwick Ave, Warwick, RI 02888

Phone: (401) 463-9574
Fax: (401) 563-7050

 

MEMBER SUPPORT


If you need additional information or just want to give us feedback, please feel free to contact us.

 

BUSINESS HOURS

MAIN BRANCH
LOBBY HOURS
Mon-Wed: 9am - 4pm
Thurs-Fri: 9am - 5pm
Saturday: 9am - 12pm

Drive Up Opens
M-F: 8am / Sat: 9am

WARWICK AVENUE BRANCH
LOBBY HOURS
Mon-Wed: 9am - 4pm
Thurs-Fri: 9am - 5pm
Saturday: 9am - 12pm

Drive Up Opens
M-F: 8am / Sat: 9am

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