Young couple thinking about house upgrades

Home Equity Loans and Line of Credit

Young couple thinking about house upgrades

When used wisely, your home’s equity can be a powerful financial tool for improving your space or strengthening your finances. The key is choosing a loan or line of credit that fits your needs today while supporting your plans for tomorrow.

Use our calculator to see how much you could qualify for.

Get Started with a Home Equity Loan or HELOC

Your Home’s Equity Can Make Big Plans Happen.

Whether you’re planning a kitchen remodel, consolidating higher-rate debt, or getting ready for life’s next milestone, your home’s equity can help. With our Home Equity Loan or Home Equity Line of Credit (HELOC), you get access to competitive rates, flexible terms, and the support of Unitus Community Credit Union.

Home Equity Fixed Loan

Choose a home equity fixed loan if you need a one-time lump sum to use as you wish.

  • Locked in rate for term of loan – Gives you the stability and protection from rising interest rates.
  • Predictable payments each month – Makes budgeting simple and stress-free.
  • Flexible term options – Helps to keep payments affordable.
  • No prepayment penalty – Allows you to pay down your loan faster and save on interest.

Home Equity Line of Credit (HELOC)

Choose a Home Equity Line of Credit if you need a revolving credit line for maximum flexibility.

  • Borrow only what you need – Free up credit as you make payments, so you can re-draw money as you need.
  • Flexible Credit Line Amounts – Line amounts start at $10,000 to meet your needs.
  • No Interest Until You Withdraw – Easy access to cash, but you don’t pay any interest until you actually withdraw it.
  • Perk #4 goes here – Most great text goes here. Just add a sentence and we’re all good.

Today's Best Equity Line Plus Rate Options

  • Fixed Rate Segment - For Options 2 & 3

    as low as
    6.79
    %
    APR
    See Details

  • Principal & Interest Payment

    as low as
    8.25
    %
    APR
    Apply

  • Interest Only
    Payment

    as low as
    8.25
    %
    APR
    Apply

Home Equity Loans vs. HELOC

Unsure which home equity option is right for you? Our comparison chart below makes it easy to see how a Home Equity Loan and Home Equity Line of Credit stack up.

Home Equity Loan Home Equity Line of Credit (HELOC)
Best forLarge projects and constructionTBD
PaymentsFixed MonthlyTBD
CollateralPrimary or Secondary HomeTBD
Fixed or Adjusted Interest RateFixedTBD
How you receive fundsLump SumTBD
Terms5-30 YearsTBD
How much you can borrow?Up to 90% of available equity in homeTBD
Annual feesNoneTBD
Apply for a Home Equity LoanApply for a HELOC

Home Equity Loan

Best for Large projects and construction
Payments Fixed Monthly
Collateral Primary or Secondary Home
Fixed or Adjusted Interest Rate Fixed
How you receive funds Lump Sum
Terms 5-30 Years
How much you can borrow? Up to 90% of available equity in home
Annual fees None
Apply for a Home Equity Loan

Home Equity Line of Credit (HELOC)

Best for TBD
Payments TBD
Collateral TBD
Fixed or Adjusted Interest Rate TBD
How you receive funds TBD
Terms TBD
How much you can borrow? TBD
Annual fees TBD
Apply for a HELOC

Home Equity Qualification Calculator

Use this calculator to determine the home equity line amount you may qualify to receive. The loan amount is based on a percentage of the value of your home.

NOTE: Calculators are for illustrative/research purposes only and do not reflect the actual results of any specific loan amount. Please contact Unitus for an accurate calculation.

How Equity Line Plus works

Let’s say you have $100,000 available on your line of credit and you want to pay off a student loan totaling $35,000. We’ll set up a fixed-rate segment1 for $35,000.

When you want to remodel your kitchen for $52,000 and replace your old deck for $13,000, we’ll set up additional segments on your line of credit.

You can create up to five segments on your Equity Line Plus and make one convenient monthly payment. Please contact us to set up your segments.

Benefits that make borrowing simple

  • Borrow only what you need

    Free up credit as you make payments, so you can re-draw money as you need.

  • Flexible Credit Line Amounts

    Line amounts start at $10,000 to meet your needs.

  • No Interest Until You Withdraw

    Easy access to cash, but you don’t pay any interest until you actually withdraw it.

Get Started

Maximize your borrowing opportunity

  • Equity Line Plus allows you to borrow up to 80% of the value of your home2
  • You can access cash for unexpected expenses or to pay down high-rate credit card debt
  • You make payments and only pay interest on the amount you spend3
  • Fixed-rate terms of 60-240 months are available

Disclosures

*APR=ANNUAL PERCENTAGE RATE. Rates are variable and change monthly. Additional restrictions and/or requirements may apply. Annual fee of $50. There is a prepayment fee of $395 if the Equity Line Plus account is closed within 36 months of origination. If the loan is a first lien, payment examples do not include amounts for taxes and insurance premiums, actual payment obligation will be greater. Property insurance is required for this loan. A $30,000 segment with a term of 60 months at 6.79% requires monthly payments of $591.21.

1A segment is a portion of the line balance that can be locked in at a fixed rate. During the draw period, as the segment balances are paid down, that principal reduction becomes available on the line providing maximum flexibility to re-draw money as needed during the draw period.

2Rates above are available for owner-occupied, detached, single family residential properties up to 80% CLTV. Rates higher for any other occupancy/property type.

3APR is variable. $50 annual fee waived first year. Property insurance is required for this loan.

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