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Home Equity Line of Credit

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Home improvement, debt consolidation, or just a line of credit for a rainy day

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

A Home Equity Line of Credit is an open-ended loan that’s issued to a homeowner based on the equity they have in their home. Popular uses include:

  • Remodels or improvements to your home or yard.
  • Cash flow tool.
  • Combine loans into one low payment and get out of debt faster.
  • Life’s expensive surprise.
  • Family vacations or big purchases.
  • Line of credit for a rainy day.
  • More.

Unique UCCU Home Equity Benefits:

  • No fees or closing costs options* available
  • Rate inflation protection*
  • Up to 90% Combined Loan-to-Value (CLTV)*
  • Loan-to-Value rate discounts
  • Easily transfer equity funds inside UCCU’s Mobile Banking App
  • Visa card for convenient access to your equity funds for purchases
  • Apply and close your Home Equity from the comfort of your own home (if you prefer)
Talk to a UCCU Home Equity Expert today, or review different home equity line of credit options below.

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

Apply Now View Rates
Example of how much you can borrow on your UCCU home equity line of credit.

Example is for illustrative purposes only. Apply to get accurate line of credit amount.


Let’s help you determine which home equity line of credit is best for you!

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Standard

Lowest payment possible for optimal cash flow.

Interest-only Payment Option
6-month Introductory Fixed Rate
10-Year Draw Period

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Initial Fixed

Fixed rate up to ten years for optimal peace of mind.

Principal and Interest Payment
Fixed up to 10 years
5-Year Draw Period

HELOC Frequently Asked Questions

Do you have more information on a Standard HELOC?

Yes! Listed below is some more information regarding Standard Home Equity Line of Credit

  • Choose an interest-only payment, or also set your payment anywhere you’d like above the minimum payment amount to pay down principal.
  • Loan payments are due on the 25th of each month, and only begin after the first use of your home equity.
  • Payments are calculated based on the previous month’s balance and the current rate.
  • At the end of the initial draw period, you can request a draw period extension*; otherwise your loan will convert to an installment loan and amortize the remaining balance over an additional 15-year period.

Draw Period: 10 Years

Do you have more information on an Initial Fixed HELOC?

Yes! Listed below is some more information regarding Initial Home Equity Line of Credit

  • UCCU’s unique 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.*

Draw Period: 5 Years

What Else Should I know before getting a HELOC?

There are many questions you can ask regarding a Home Equity Line of Credit. UCCU is here to help. Talk to a HELOC expert to see what options would be best for your personal situation. You can also check out our 6 Questions to Ask Before Getting a HELOC article for more in-depth details.

We’re here to help

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(801) 223-8188
Mon – Fri: 8:00 am – 6:00 pm
Sat: 9:00 am – 2:00 pm

Submit a Question to our Support Team

or send us a message from inside online banking.

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Disclosure

*Financing is subject to UCCU membership and underwriting criteria. Not every applicant will qualify. Property insurance is required. Variable rates based on the Prime Rate as published in the Wall Street Journal on the 15th day of the month prior.
Additional Draw period extensions may be approved: Pending underwriting review.
No closing costs and no fee options available: Conditions apply. Appraisal fee will apply if loan amount is greater than $400,000 or if required by the underwriter. If the loan is paid off within 24 months of funding date, reimbursement of all third party fees required. These may include but not limited to title, automated valuation, and insurance fees.
Rate inflation protection: UCCU protects you against drastic rate fluctuations in the market by not allowing your rate to increase more than 0.25% per quarter (3 months) and no more than 6.00% above the non-discounted rate over the life of the loan. The maximum APR that can apply is 18.00% or maximum permitted by law, whichever is less. However, under no circumstances will your APR go below the minimum 4.99% at any time during the term of the plan except when an introductory rate applies. The APR can change monthly on the first day of the month. Minimum home equity line of credit: $10,000.
Up to 90% combined loan-to-value (CLTV): the maximum CLTV up to 90% varies upon borrower’s credit score, requested loan amount, and balances of mortgage (or any superior liens on the property). Rates, terms, and programs are subject to change and without notice. Equal housing lender. NMLS # 407653. Federally insured by NCUA.

Standard Home Equity Disclosure:

*APR = Annual percentage rate. Financing is subject to UCCU membership and underwriting criteria, not every applicant will qualify. 6.99% introductory fixed rate for 6 months, 8.24% variable APR (Prime – 0.26%). For loans greater than 80% LTV (loan-to-value) the variable APR is 9.99% (Prime + 1.49%). Property insurance is required. Interest rate will not vary above 18.00% or below 4.99%. 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.

Initial Fixed Home Equity Disclosure:

*APR = Annual percentage rate. Financing is subject to UCCU membership and underwriting criteria, not every applicant will qualify. 8.99% variable APR (Prime + 0.49%). For loans greater than 80% LTV (loan-to-value) the variable APR is 10.49% (Prime + 1.99%). Property insurance is required. Interest rate will not vary above 18.00% or below 4.99%. 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.