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Home Equity Line of Credit
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Home Equity Line-of-Credit

A Home Equity line-of-credit is a smart source of cash. It functions similar to a credit card. You can use the funds up to the established line-of-credit. Some members have used their UCFCU Home Equity Line-of-Credit for remodeling their kitchen, bath, swimming pool, pay for their children’s student loans, bill consolidation, etc.

We offer some of the most competitive equity loan rates. Low Closing Cost. Home Equity Features:

  • Up to 80% loan-to-value.
  • A low annual fee of $50.
  • The introductory discounted rate offered is a fixed rate for a period of 12 months, from the date of HELOC opening. After the introductory rate expiration, the rate will convert to variable rate Prime plus margin.
  • Maximum increase per adjustment 1% with a 2% cap per year.
  • Rate is subject to change semi-annually every January 1 and July 1.
  • Initial draw $2,500, the minimum draw, thereafter is $250.
  • Low Closing Costs.
  • You can draw money from your line of credit up to 10 years repayment 15 years.
  • Allows cash flexibility to use for those popup situations.
  • Potential tax advantage (consult with your tax advisor).

What You Should Know about Home Equity Lines of Credit.

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