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If you are
looking for credit for nearly any purpose, a Home Equity Loan might
be the right choice for you. Whether you are looking to
consolidate debt, add a new room to your home, buy a new car, or pay
for college tuition, you can use the equity in you home as a source
of low cost credit.
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Program Highlights and
Benefits |
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The UCU Home Equity Loan allows you to borrow up to $125,000 based on 80% of the current
appraisal value of your home, less the first mortgage balance. |
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You may choose from repayment terms of five,
ten, fifteen or twenty years. |
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Fixed rate is dependent on which repayment term
is chosen. |
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The Home Equity Loan has no closing
costs if loan amount is $10,000 or greater. |
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There are no prepayment penalties or annual
fees. |
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A Home Equity Loan from UCU may be tax deductible.
Make sure to check with your tax advisor. |
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Receive approval within 24 hours in most cases. |
Use our Home Equity calculator to learn your borrowing
power.
Click here for the current Home Equity Loan rate.
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Applying is Easy! |
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Apply securely online and receive your loan decision
within 60 seconds! All loans are subject to final
review. If you would like an application sent to you,
simple call the Credit Union at (617) 739-7447 with your
request. Once
you have completed your application, make sure to send the
following documentation along with it:
- Paystub(s)/Tax Returns
- Copy of the Deed
- Copy of the most recent
property tax bill
- Copy of the most recent
mortgage statement
Completed applications can be sent to the
Credit Union via mail or facsimile
at (617) 739-8346. |
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Questions? |
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loan officers are always available to answer your questions.
Simply call a UCU home loan specialist at (617) 739-7447 ext. 246
or email
universitycredit@universitycu.org with your equity questions. |
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