With a Utah First home equity loan or HELOC, you can use the equity in your home to help pay for big events, family vacations, upcoming expenses, or overdue home improvement projects.
For a limited time, you can lock in a low 4.99% HELOC intro rate for a full six months!
A Home Equity Line of Credit (HELOC) works like a credit card: we issue a line of credit based on the equity in your home. You use as much or as little as you want for whatever you want, whenever you need it. And you can switch between fixed and variable interest at any time.
Save money and get the peace of mind knowing your rate won’t increase with Utah First’s Home Equity Fixed-Rate Lock Option. You’ll have the option to lock in a fixed rate for all or a portion of your HELOC funds, protecting you against market fluctuations. Lock in up to five fixed rate options at a time. Terms for these fixed rates are available for 1-10 years, with the ability to amortize the payments up to 15 years.
You can have up to five locks and use each for different needs. As you pay down the locked balance on each, the available line of credit amount increases and becomes available for use.
With a Utah First HELOC, your next home improvement project is on the house!
Use the following formula to determine how much you can borrow. Numbers are provided as an example and should be replaced with your specific details.
| Value of Your Home | $400,000 |
| Loan-to-Value Ratio | X 80% |
| Percentage of Home Value | = $320,000 |
| Minus Balance Owed on Home | – $200,000 |
| Potential HELOC Amount | = $120,000 |
| Type | Product | Term | APR* | Jumbo Loans |
|---|---|---|---|---|
| Variable | 80% Home Equity | 30 Years | 8.25% | 9.25% |
| Variable | 90% Home Equity | 25 Years | 10.00% | 11.00% |
| Type | Product | Term | APR* | Jumbo Loans |
|---|---|---|---|---|
| Fixed | 80% Home Equity | 5 Years | 6.99% | 7.99% |
| Fixed | 80% Home Equity | 6-10 Years | 8.00% | 9.00% |
| Fixed | 90% Home Equity | 5 Years | 8.50% | 9.50% |
| Fixed | 90% Home Equity | 6-10 Years | 9.00% | 10.00% |
| Fixed | 100% Home Equity | 5 Years | 11.75% | 12.75% |
| Fixed | 100% Home Equity | 6-10 Years | 12.75% | 13.75% |
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APR = Annual Percentage Rate. All rates subject to change without notice.
*Jumbo loans have an aggregate loan balance of more than $726,200.
**HELOCs up to $500,000 loan amounts are not subject to fees or additional costs. All Loans are subject to a recapture fee, equal to the origination costs, if the loan is paid off and closed within 48 months of the original funding date.