Equity for your projects and emergencies
A Home Equity Line of Credit (HELOC), sometimes referred to as a second mortgage, is a revolving line of credit that can be used in case of emergencies, short term expenses, medical bills, home renovations and more.* As a qualified Utah homeowner, your home equity line of credit typically results in lower interest rates and revolving credit, meaning you can continue to borrow and pay back as much as you'd like within your draw period.
2.99% APR interest rate is something to celebrate!
- 2.99% APR for 6 months 1
- Borrow up to 100% of your home’s value
- No closing, appraisal, credit report, or origination fees on loan amounts under $250,000
Our HELOC Options:
With our standard Home Equity Line of Credit, you pay 1% of the principal amount monthly (minimum $50)
With our interest-only HELOC, you pay the monthly interest o the amount you have borrowed (minimum $50)**
Current HELOC Rates in Utah
|Loan to Value||Minimum Variable APR||Maximum VariableAPR|
|60% LTV||As low as 5.00%||18.00%|
|70% LTV||As low as 5.50%||18.00%|
|80% LTV||As low as 6.00%||18.00%|
|85% LTV||As low as 7.50%||18.00%|
|90% LTV||As low as 9.00%||18.00%|
|100% LTV||As low as 10.25%||18.00%|
*Rates vary upon loan to value and credit. Variable rates may change after consummation. Owner occupied and single family residence only.
2.99% for the first six months up to 100% LTV.
University Federal Credit Union offers competitive HELOC rates in Utah giving you immediate use of funds for your projects or emergencies. Apply today for low-interest on your home equity line of credit in Utah!
*University Credit Union HELOC's have a 10 year draw period followed by a 10 year repayment period. Minimum line of credit is $5,000 with a $100 minimum advance. Fees will be incurred if HELOC is closed within 24 months of its origination date. Homeowner insurance will be verified.
**Variable interest will be based on the prime rate plus a margin. For example, a prime rate of 5.50% plus a margin of 0.5% would result in an interest rate of 6.00% APR. Because prime is a variable rate; as it changes, the APR on your account will also change. The maximum APR that can apply is 18.00%. Minimum interest rate over the life of the loan is 3.74%. See rates table for current HELOC rates. Closing costs waived include origination, processing, underwriting, tax service, appraisal, credit report, and title fees.
1 After 6 months, a variable-rate APR as low as 5.00% will apply (depending on your credit and loan to value).