Home Equity Lines & Loans
A home equity loan or line allows you to take advantage of the equity you have built in your home for your other financial needs. Home remodel, check. Kid off to college, check. Need to consolidate debt, check.
UNIFY offers low fixed rate home equity loans or variable rate home equity lines of credit, also known as a HELOC. Review your options below and decide which home equity loan/line is best for you.
Home Equity Line of Credit (HELOC)
Enjoy our FLEX-Rate HELOC
Enjoy a variable rate line of credit² with a fixed-rate loan lock option³. And take advantage of interest-only payments during the draw period!
IDEAL FOR: Borrowers who want the flexibility to handle recurring expenses, such as home improvements.
- Up to 90% combined loan-to-value (CLTV) financing
- $10,000 to $250,000 loan amounts
- 15-year draw period and 15-year repayment period²
- Fixed-rate loan lock option as low as 8.99% APR³
Home Equity Loan
Get a fixed-rate loan with all your funds in a lump sum and consistent monthly payments.
IDEAL FOR: Borrowers looking to cover a one-time, large expense like a major home remodel, emergency expenses, or debt consolidation.
- 5, 10, and 15-year terms1
- Up to 80% combined loan to value (CLTV) financing1
- $10,000 to $250,000 loan amounts1
- Fixed rates as low as 8.99% APR
Access your home equity todayApply for a Home Equity Loan Now
Which is better, a HELOC or home equity loan?
Still not sure which home equity product is for you? Compare them below.
|Home Equity Loan||Flex Rate Home Equity Line of Credit (HELOC)|
GREAT IF YOU
Want a one-time, lump sum to cover a large expense, such as a major home remodel, vehicle purchase or debt consolidation.
Need flexibility similar to a credit card to handle recurring expenses, such as home improvements.
ALSO GOOD IF YOU
Want the predictability of fixed payment and end date.
|Want an extended period of interest-only payments.4|
|BORROW UP TO…||80% combined loan to value (CLTV) financing.||90% combined loan to value (CLTV) financing.|
|AMOUNTS OF||$10,000 to $250,000.5||
$10,000 to $250,000.5
5, 10 or 15 years
|15-year draw period, 15-year repayment.4|
|INTEREST RATE||Low fixed rate.||
Low variable rate.4
|LOCK-IN||Up to 3 fixed-rate loan locks, each for a minimum of 60 months.6|
Get started toward your financial dreams todayApply for a HELOC or Loan Online
Home Equity Disclosures
APR = Annual Percentage Rate. All UNIFY mortgage loans are subject to applicant meeting membership eligibility and loan approval criteria based on credit history, debt, ability to repay, home ownership, home value, and loan-to-value ratio. Certain restrictions and limitations may apply. Mortgage programs, terms, conditions, and rates subject to change without notice. See Rates for current rates, terms and payment factor examples. Advertised HELOC terms may be subject to state-imposed limitations.
1100% financing is the combination of our 80% LTV Conforming first mortgage and our 20% LTV Down Payment Second Mortgage Helper (DPSMH). As of May 30, 2023, the estimated monthly payment for our 30-year fixed rate conforming first mortgage is $ 6.60 per $1,000 borrowed at the lowest rate of 6.971% APR with zero buydown points, excluding taxes and insurance. The estimated monthly payment for our DPSMH is $$12.00 per $1,000 borrowed at the lowest fixed rate of 11.99% APR for the maximum 15-year term, excluding taxes and insurance. DPSMH minimum loan amount is $10,000, maximum $250,000, with maximum combined financing of $1,000,000. Eligible for the purchase of an owner-occupied primary residence only. Not eligible for the financing of a second home, investment property, manufactured or mobile home.
2HELOC is a variable rate plan, meaning the APR may vary based on the index rate plus a margin. The Index is the Prime Rate as published in The Wall Street Journal on the last business day of each month. As of February 2, 2023, that index was 8%. The margin will range from 0.74%-5.50% based on your creditworthiness at the time of loan approval. The resulting APR (currently 4.24%-9.00%) will never exceed 18.00%. Collateral property must be owner-occupied. HELOC has an interest-only 15-year draw period followed by a fully-amortizing 15-year repayment period. You may pay certain fees to third parties, such as appraisers, credit report firms, and government agencies. These fees generally total $500-$1100.
3Fixed-rate loan lock option requires minimum 5-year lock period, with a maximum of three fixed-rate loan locks at any one time. Fixed rate is determined by length of lock period and your creditworthiness at time of loan approval, currently a range of 8.99% - 10.99% APR. Estimated monthly payment is $20.75 per $1,000 borrowed for 60-month term at 8.99% APR.
4This HELOC is a variable rate plan as described in the applicable loan documents. APR may vary based on the index rate plus a margin. The Index is the Prime Rate as published in The Wall Street Journal. On February 2, 2023, that index was 8%. The HELOC APR will never exceed 18.00%. Qualification and APR dependent on credit history, debt, loan-to-value, ability to repay, home ownership, and other factors. Collateral property must be owner occupied and property insurance is required. This HELOC has a 15-year draw period and 15-year repayment period. During the 15-year draw period, the minimum payment due each billing cycle will equal accrued finance charges (interest-only) and other applicable charges. The minimum payment will not reduce the principal balance. At the end of the draw period, the outstanding balance will amortize over a 15-year repayment period. Payments during the repayment period consist of principal and interest. You may pay certain fees to third parties, such as appraisers, credit report firms, and government agencies. These fees generally total $500-$1100. Rates and/or program subject to change without notice.
5Minimum loan amounts may vary by state. Approved loan amounts are based on borrower(s) and collateral meeting approval criteria including credit history, debts, ability to repay, home ownership, home value, and other factors.
6“As low as” fixed rate loan lock APR assumes excellent borrower credit history including a minimum FICO score of 740, 80% or less loan-to-value (LTV) and a maximum 5 year lock term. Estimated monthly payment is $20.75 per $1,000 borrowed for 60-month term at 8.99% APR. Your rate may vary. Alternative term options are available and based on creditworthiness at time of loan origination and length of rate lock period. Maximum of three fixed-rate loan locks at any time. Rates and/or program subject to change without notice.
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