APR= Annual Percentage Rate. 2.490% APR for the first 12 months on loans with less than 80 percent combined loan to value ratio. Thereafter the APR is variable and subject to increase. After the first 12 months, the rate will be adjusted quarterly based on the Prime Rate, as published in the Wall Street Journal. Currently, the fully indexed rate is 3.75%. Other rates and terms may apply.

Home Equity Line of Credit

Home EquityLine


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Home Equity Line of Credit

  • Summary
  • Benefits
  • Resources

An Equity line is a revolving line of credit that uses your house as collateral. You can borrow from your available Home Equity Line of Credit at any time to pay for multiple purposes, including:

  • Home improvements
  • Education fees
  • Car loans
  • Vacations
  • Special events

You pay interest and principal only on the amount you borrow. In addition, your available credit is replenished as you pay down the balance of your loan. You can re-use your credit for 10 years before it becomes a fully amortizing loan.

Consult with your tax advisor concerning the deductibility of interest and charges on your Home Equity Line of Credit.

What can you expect from your UNFCU Home Equity Line of Credit?
  • Convenience. Free checks allow you to access your credit line at retail stores or simply deposit borrowed funds to a personal account.
  • Affordability. No application fee, no points, no appraisal fee and no closing costs apply for loan amounts of USD 50,000 or less.
  • Flexibility. A Home Equity Line of Credit is available for owner-occupied homes and condominiums.
  • Simplicity. Streamlined documentation requirements make it easy to borrow against the accrued equity in your home.
  • Tax advantages. Interest paid on a home equity line of credit may be tax-deductible.
  • Mortgage Loan Calculation
    Get an idea of what your monthly payment would be
  • Mortgage Refinance Breakeven
    Determine if refinancing your mortgage is a sound financial decision
  • Mortgage Payoff
    Calculate how much interest can you save by increasing your mortgage payment
  • Points
    Determine if you should pay for points, or use the money to increase your down payment
  • Debt Consolidation
    Determine whether using a cash out mortgage refinance to consolidate your debt is right for you
Related Services
  • International Home Loan
    Use this loan for purposes related to buying or building residential real estate outside the U.S.

Disclaimer: Housing counseling agencies approved by the U.S. Department of Housing and Urban Development (HUD) can offer independent advice about whether a particular set of mortgage loan terms is a good fit based on your objectives and circumstances, often at little or no cost. If you are interested in contacting a HUD-approved housing counseling agency in your area, you can visit the Consumer Financial Protection Bureau’s (CFPB) website, www.consumerfinance.gov/find-a-housing-counselor, and enter your zip code. You can also access HUD’s housing counseling agency website via www.consumerfinance.gov/mortgagehelp. For additional assistance with locating a housing counseling agency, call the CFPB at 1-855-411-CFPB (2372).