Home Equity Loans & Lines of Credit

A Home Equity Line of Credit (HELOC) is a revolving loan that provides you with the ability to borrow funds at the time and in the amount you choose, up to a maximum credit limit for which you have been approved. A HELOC is secured by the equity in your home. You can easily access your HELOC through your existing UBT checking account via online  or automatic transfers, or set up a separate HELOC checking account for convenient access through a HELOC Visa Debit Card.

Both a Home Equity Loan and a Home Equity Line of Credit (HELOC) are secured by the equity in your home.

A Home Equity Loan has a fixed rate, payment and term.

A HELOC works like any other revolving line of credit and is very similar to a credit card. It allows a homeowner to use the equity in his/her home on an ongoing basis. You can easily access your HELOC through your existing UBT checking account via online  or automatic transfers, or set up a separate HELOC checking account for convenient access through a HELOC Visa Debit Card. The interest rate on our HELOC is variable and will change from time to time.

Please consult your tax advisor regarding the deductibility of interest for home improvements.

You can access your funds any time you choose, for any purpose. Home equity lines of credit are often used for larger purchases like home improvement, college tuition, automobile or second home purchases, or the consolidation of high interest-rate debt. 

APR stands for "annual percentage rate." It is the annualized cost of credit, expressed as a percentage. The APR calculation considers certain fees to reflect the cost of credit in addition to interest.