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Home Equity Line of Credit (HELOC)

Put your home’s equity to work for you.

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A HELOC is a line of credit, issued to you, based on the equity you have on your home.

Meet Your Home Equity Expert

A seasoned home loan professional, ready to act as your home equity advocate.

801-223-7650 | [email protected]
or send us a secure message from within online & mobile banking.

Available M–F 8am–6pm, and Sat. 9am–2pm

Your house isn’t just a home. It’s an investment.

With a Home Equity Line of Credit (HELOC), you can put that investment to work for you.

Many homeowners use HELOCs to make repairs or remodels, consolidate higher interest debt, finally take that family vacation, or simply enjoy the peace of mind that comes from knowing they have a line of credit ready for a rainy day.

When it’s your HELOC, it’s up to you!

There are different HELOC options available, each with their own terms and advantages…At UCCU, every HELOC comes with no origination fees and no closing costs.

Talk to a UCCU Home Equity Expert today, or review different HELOC options below.

Let’s help you determine which HELOC is best for you…

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Low Variable Rate HELOC

Most popular UCCU Home Equity option!

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Fixed Rate HELOC

Peace of mind knowing you have a fixed rate!

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FlexPay HELOC

Provides the lowest payment of any UCCU HELOC!

Learn more about Home Equity Lines of Credit (HELOCs)…

Variable Rate HELOC

How It Works

A Variable Rate HELOC provides a low variable rate, the lowest principle and interest payments, and the longest draw period – allowing a homeowner to draw from their equity, anytime, for 10 years. When draw period ends, payments are amortized so that the monthly payment remains the same throughout the remainder the repayment period (15 years or 20 years, depending on the agreement). 

Who Should Get One?

There are many reasons homeowners get HELOCs, such as making repairs, remodeling their homes, and paying off higher interest debt. Variable Rate HELOCs are the most popular choice for most homeowners, accounting for more than 70% of all HELOCS. If you’re a homeowner considering a HELOC, there’s a good chance a variable rate will be right for you.

Fixed Rate HELOC

How It Works

A Fixed Rate HELOC provides one, fixed rate that’s guaranteed not to change for the draw period, which is 4 years. When draw period ends, the HELOC switches to a low variable rate, with payments amortized so that the monthly payment for the money you drew will remain the same throughout the remainder the repayment period (5, 7, or 10 years, depending on your agreement). 

Who Should Get One?

With the security of knowing the rate won’t rise, a Fixed Rate HELOC can be an attractive option for people on fixed budgets, as well as homeowners who would plan to use a HELOC to pay off higher interest debts – like credit cards – during the fixed rate period

Flex Pay HELOC

How It Works

A Flex Pay HELOC provides interest-only payments for the entire draw period (10 years), resulting in the lowest monthly payment possible. When draw period ends, payments are amortized so that the monthly payment remains the same (unless the rate changes) throughout the remainder the repayment period (which is 15 years).

Who Should Get One?

A lower monthly payment means more financial flexibility, each and every month, making a Flex Pay HELOC an intelligent possibility for homeowners who want to conserve funds in the short-run, but expect more income in the future – such as a homeowner who plans to sell their property in an appreciating real-estate market. 

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Home Equity 15 Year Disclosure:

*APR = Annual percentage rate. Financing is subject to UCCU membership and underwriting criteria, not every applicant will qualify. 0.99% introductory fixed rate for 6 months, 3.50% variable APR (Prime + 0.25%). For loans greater than 80% LTV (loan-to-value) the variable APR is 4.49% (Prime + 1.24%). Property insurance is required. Interest rate will not vary above 18.00% or below 3.50%. Variable rates based on the Prime Rate as published in the Wall Street Journal on the 15th day of the month prior. Limited time offer. Title and insurance fee reimbursement is required if reconveyed within 24 months of funding date. Equal housing lender. NMLS # 407653. Federally insured by NCUA.

Home Equity Fixed for 5 Disclosure:

*APR = Annual percentage rate. Financing is subject to UCCU membership and underwriting criteria, not every applicant will qualify. 3.50% variable APR (Prime + 0.25%). Property insurance is required. Interest rate will not vary above 18.00% or below 3.50%. Variable rates based on the Prime Rate as published in the Wall Street Journal on the 15th day of the month prior. Limited time offer. Title and insurance fee reimbursement is required if reconveyed within 24 months of funding date. Equal housing lender. NMLS # 407653. Federally insured by NCUA.

Home Equity FlexPay Disclosure:

*APR = Annual percentage rate. Financing is subject to UCCU membership and underwriting criteria, not every applicant will qualify. 4.00% variable APR (Prime + 0.75%). Property insurance is required. Interest rate will not vary above 18.00% or below 4.00%. Variable rates based on the Prime Rate as published in the Wall Street Journal on the 15th day of the month prior. Limited time offer. Title and insurance fee reimbursement is required if reconveyed within 24 months of funding date. Equal housing lender. NMLS # 407653. Federally insured by NCUA.