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Initial Fixed Rate Home Equity

The lowest rate possible, locked in for ten years.

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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

Lock in the lowest fixed rate possible.

UCCU’s Initial Fixed Rate Home Equity comes with both a fixed rate for up to 10 years and a draw period for 5 years. Loan payments are due on the 25th of each month, and only begin after the first use of your home equity. At the end of the draw period, you can request a draw period extension or amortize your remaining balance up to an additional 10-year period.


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How an Initial Fixed Rate Home Equity Works

An Initial Fixed Rate Home Equity provides a single rate that’s guaranteed not to change for the established fixed rate period (5- or 10-year options available). The Initial Fixed Rate Home Equity also comes with a 5-year draw period that allows you to access your equity well after the closing date. Payments are amortized over the initial term of the loan (5 or 10 years) and only change if you withdraw additional funds or after the expiration of the initial fixed rate period.

Who Should Get One?

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

Let’s help you determine which Home Equity is best for you:

Initial Fixed Home Equity Disclosure:

*APR = Annual percentage rate. Financing is subject to UCCU membership and underwriting criteria, not every applicant will qualify. 4.49% variable APR (Prime + 0.99%). Property insurance is required. Interest rate will not vary above 18.00% or below 4.49%. 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. Appraisal, title, and insurance fee reimbursement required if paid off and closed within 24 months of funding date. Equal housing lender. NMLS # 407653. Federally insured by NCUA.

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