Use Your Equity for Projects, Emergencies or Other Expenses
HELOC rates now starting at 6.99% APR
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 as needed.
Limited Time Offer!
Introductory rate of 6.99% APR for the first 6 month
- 6.99% APR for 6 months
- Borrow up to 95% of your home’s value
- No closing, appraisal, credit report, or origination fees on loan amounts under $250,000
View Terms and Conditions
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 on the
amount you have borrowed (minimum $50)**
Current HELOC Rates
Frequently Asked HELOC Questions
How much can I borrow on a HELOC?
With HELOC loans from UFirst Credit Union, you can borrow up to 95% of your home's value up to $250,000.
What is a HELOC draw period?
During your HELOC's draw period, you can draw on your available line of credit as often as you need. With
a Standard HELOC, during this period you'll pay 1% of the principal amount monthly (minimum $50). With an
Interest-Only HELOC, you pay the monthly interest on the amount you have borrowed (minimum $50).**
Which is better? HELOC or home equity loan?
HELOCs and home equity loans both allow you to borrow against your home's equity. HELOC loans act similar
to a credit card, where you have a line of credit you can borrow. With HELOCs, you can take what you need as you
need it. You'll only pay interest on the amount you draw, not on the total amount available in your line of
Home equity loans provide you with a lump sum of cash for a predetermined repayment period. These loans are
great for large home improvement projects, long-term debt consolidation, or major one-time financial needs such
as college tuition or starting a new business. Learn more about our home equity
Are there closing costs associated with a HELOC?
With HELOC loans from UFirst Credit Union, there are no closing, appraisal, credit report, or origination fees
on loan amounts under $250,000.
How are interest rates calculated?
HELOC interest rates are tiered, with the tiers based on the loan-to-value ratio (LTV). Having a lower LTV
helps you qualify for lower interest rates, while a higher LTV will require a higher interest rate.
Can I get a HELOC on a property that is not my primary residence?
No; HELOCs are designed to give equity-access to homeowners in their primary residence. HELOCs are not
available for secondary or investment properties.
Apply for a low rate
HELOC Current HELOC Rates
*UFirst Credit Union HELOCs 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 8.500% APR plus a margin of 0.5% would result in an interest rate of
9.000% 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% APR. See rates table for current HELOC rates. Closing costs waived include origination, processing,
underwriting, tax service, appraisal, credit report, and title fees. Home equity lines of credit are available
for up to 95% of home value or up to $250,000.
1 After 6 months, a variable-rate APR as low as 3.74% will apply
(depending on your credit and loan to value).
Limited Time Only: 6.99% Annual Percentage Rate (APR) is a six-month introductory rate. For primary residence
only. A UFirst Credit Union Home Equity Line of Credit has a 10-year draw period followed by a 10-year
repayment period. Minimum line of credit is $5,000 with a $100 minimum advance. Some fees may apply that
can range from $10.00 to $8,000. Fees will be incurred if the Home Equity Line of Credit is closed within
24 months of its origination date. If HELOC is refinanced within two years and intro rate has previously
been received, the intro rate will not be given. Homeowner Insurance will be verified. The APR is a
variable rate and will be based on the prime rate plus a margin. For example, a prime rate of 5.50% APR with
an adjusted margin of 0.5% would result in an interest rate of 7.50% APR. Because prime is a variable rate;
as it changes, the APR on your loan will also change. After the promotional period ends, the APR may vary
between 7.50% APR and a maximum of 18% APR. Minimum payments will not be less than $50. Credit is subject
to approval and actual terms will depend on credit worthiness and equity position. Consult a tax advisor
regarding the tax deductibility of interest related to your Home Equity Loan. Offer is subject to change at
any time and without notice. Other restrictions may apply.