One Big Reason to Use Your HELOC This March

March is known for a lot of things—the luck of the Irish, the Ides of March, in like a lion and out like a lamb. March brings the first days of spring, Daylight Savings Time, Women’s History Month, and even National Dentist’s Day (yes, that a real thing and yes, you’re free to ignore it).

But this year, March means just a little bit more. That’s because when you use your Utah First HELOC by March 31, 2021, you lock in a fixed 1.99% APR until next year (April 1, 2022).*

Is 1.99% a great rate?

Unlike most home equity lines of credit, which offer borrowers a variable interest rate that fluctuates with the market, your Utah First HELOC comes equipped with a swingout feature that allows you to advance funds and fix your interest rate whenever you want. This March, that option includes locking in a great 1.99% interest rate.

A quick look at Bankrate’s besthome equity lines of credit rates for March 2021 will show you that most banks offer variable APRs between 4% and 6%. Locking in a 1.99% fixed rate is game-changing and can help you save money on your spring home improvement projects, family vacation, debt consolidation plans, and more.

How do you advance your existing HELOC funds?

Now that you know you’re going to get a great fixed rate, you have to take one more step to actually lock in your rate—advance your HELOC funds. Advancing HELOC funds is different than just having a HELOC. In fact, you haven’t officially borrowed money on your line of credit until you advance funds. Most borrowers choose to advance HELOC funds in one of two ways.

1. Transfer HELOC funds into your checking account using digital banking, or
2. Call 801-320-2600 to advance funds from your HELOC into your checking account.

Either of these options takes just a few minutes, and will allow you to lock in your 1.99% APR until April 1, 2022.

A March to Remember

At Utah First, we March to the beat of a different drum (see what we did there?). Unlike other banks and credit unions, we believe borrowers can be choosers. We put you in control with the option to fix your HELOC interest with a great 1.99% rate, giving you yet another reason to celebrate the month of March.

So, have a pleasant spring. Enjoy the warming weather. Celebrate dentists if that’s your thing, and seize the month of March to lock in your 1.99% APR on HELOC advances until April 1, 2022.

*This offer is available for qualified new and existing HELOC members. All payments made will be applied to the 1.99% rate balance before the previously existing balance. Following the expiration date of the promotion, the rate on outstanding balances will revert to the rate in their previously existing home equity line of credit agreement.

News & Events
Jan 14, 2022 / Money Tips

The New Year is perfect time to evaluate your finances. In fact, more than half of Americans make some form of financial resolution at the beginning of the year. It’s an important first step, especially considering almost half of those who make a resolution are successful in keeping it...

Jan 07, 2022 / Home Equity

The new year is the perfect time to evaluate life, resolve to improve, and take actual steps toward accomplishing your personal goals. It’s also a great time to do the same for your home. If you’ve been thinking about renovating, now is a great time to get the ball rolling to improve...

Dec 24, 2021 / Local Utah

This time of year is always filled with mixed emotions—a little nostalgia for the past 12 months, a lot of hope for the future, and that unmistakable queasiness that often accompanies awkward family gatherings. But this year, we can’t help but feel overwhelmed with gratitude and joy...

200 E South Temple
Salt Lake City, Utah 84111
Monday - Friday: 9:00 am - 5:30 pm
View In Google Maps
Routing & Transit Number: 324079500
NMLS # 446035

Utah First Federal Credit Union is federally insured
by the National Credit Union Administration.