Home Equity Loans & Lines of Credit

Let’s put your home’s equity to work for you

Use your home's value to tackle a project or finance whatever’s next in your life.

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Home Equity Line of Credit

For those who need a flexible solution that allows access to money when you need it, covering ongoing expenses or a long-term project.

Pay variable interest only on the money you’re using
Flexible payments
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Home Equity Loan

For those who need a specific amount of money up-front to cover the cost of a specific project or purchase.

Fixed interest rate
Consistent monthly payments
Apply Online

Great HELOC Rates

Put your home’s equity to work for you

Leverage the equity you’ve built up in your home with a versatile home equity line of credit (HELOC). Right now, you can lock in a rate of 6.99% APR* for 6 months, with a variable rate after 6 months of 9.00% APR to 12.50% APR.* A HELOC is great for whatever you need to fund: weddings, vacation, home improvements, and much more!

Apply Online
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Use your home’s equity to accomplish your goals

Home improvements

Pour your home's equity back into your house by using it on home projects.

Education expenses

You can use your home's equity to help pay for your loved one's college expenses.

Travel

Use your home’s equity to finance big vacation plans without straining your budget.

Purchase a car

The equity in your home can be used for large purchases like a car. 

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Loan Offerings

The right loan for any situation

Ready loan

Quick and easy, with no collateral required.

Auto loans

We’re here for you when it’s time to upgrade or refinance your ride.

Home loans

We’ll find the right loan for you to make that new house your home.

Home equity

Use your home’s value to tackle a project or finance whatever’s next in your life.

RV loans

Enjoy the comforts of home, on the road.
Related resources
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Blog 4/6/23

Home equity loan or line of credit: What’s the difference?

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Blog 3/13/23

The top 7 ways to use a HELOC

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Blog 3/18/22

Home equity: A powerful tool

Frequently Asked Questions

Is a HELOC tax-deductible?

Interest on a HELOC or a home equity loan is deductible if you use the funds for renovations to your home — the phrase is “buy, build, or substantially improve.” The caveat here is that the money must be spent on the property whose equity is the source of the loan. (We strongly encourage you to consult your tax professional for guidance that applies to your own unique circumstances.)

Is a HELOC better than a credit card?

That totally depends on your circumstance, and it’s certainly not an either/or situation. But typically, your available balance on a HELOC is higher than a credit card, and because this line of credit is secured by your home, HELOC interest rates are generally lower than what credit cards offer. That’s why it works well for large projects, leaving your credit card free for the everyday stuff.

How do I pay on my HELOC?

This part is really easy, especially if you have a UBT checking account. You can make a payment on your HELOC in any local branch, online within UBTgo, or on your phone using the UBTgo mobile app (message and data rates may apply).

I’m paying off the balance on my HELOC before it’s due. Now what?

You can choose to pay off any remaining balance owed against your HELOC at any time. If you pay off your HELOC balance early, you have the option of leaving it open for future borrowing.

How do I know how much to pay?

You can make interest-only or principal-plus-interest payments the entire term of the HELOC if there is an outstanding balance. (Note: If your credit score does not qualify you for interest-only payments, you’ll pay 1% of the principal plus interest.) It’s worth noting that additional principal payments, if you can make them, would reduce the amount of your monthly payments. This information (principal, interest, and payment details) is always readily available to you, and you can set up an automatic payment for your convenience.

When is my HELOC due?

Until you actually use your HELOC (called a draw), you only owe the annual fee. Once you take a draw, you will begin making monthly payments based on the payment date you select. Depending on what your credit score qualifies you for, your payments will either be interest-only OR interest plus 1% of principal.

Need More Help?

Contact an expert near you
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Wendy Rowell
Branch Manager
Find a Loan Specialist Nearby
Call 888.828.4450

*Offer subject to credit approval. Introductory APR of 6.99% (daily periodic .019151%) effective for a 6-month period from the date account opened. Upon expiration of the 6-month period, rate will be variable equal to Wall Street Journal published Prime Rate (“index”) then in effect plus a margin. The index as of 7/27/2023 is 8.50%. Current margins range from .50% to 4.00% resulting in corresponding variable APRs up to 12.50% based on the current index. The variable rate may change monthly and is subject to minimum APR of 5.00% and a maximum APR of 16.00%. Fees to open the plan range from $230 to $980 and there is a $49 annual fee. You must also carry insurance on the property that secures this plan. The property that secures this plan must be owner-occupied. Consult your tax advisor on deductibility of your interest. For personal use only. Annual Percentage Rates are subject to change without notice. Member FDIC.

Subject to credit approval and may change at any time. Home equity loans and lines of credit may qualify for some tax deductions. Consult a tax advisor regarding deductibility of interest.