Members 1st CU Utah Home Equity Line of Credit
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| Loan Amount | Up to $100,000 |
| APR (Fixed APR) | Starting at 3.75% |
| Maximum LTV | N/A |
Members 1st CU Utah Home Equity Line of Credit Review
Members 1st CU Utah Home Equity Line of Credit is offered by Members First Credit Union - Utah, a credit union founded in 1958 and based in Brigham, UT. Members 1st CU Utah Home Equity Line of Credit is available in 1 state across the USA.
Members 1st CU Utah Home Equity Line of Credit FAQ
How much can you borrow with a HELOC?
HELOCs are lines of credit that are secured by your home. Once you get approved for a certain amount, you can access your funds by check, phone, credit card, or online up to your HELOC amount.
Members 1st CU Utah Home Equity Line of Credit allows borrowers to apply for lines of credit of up to $100,000. Note that the maximum loan amount you can borrow will vary depending on the value of the property, how much you owe on it, and your creditworthiness.
Typically, borrowers with good credit can qualify for up to 85 percent of the value of the property less the balance on their first mortgage.What are the terms for a Members 1st CU Utah Home Equity Line of Credit?
HELOCs have a draw and a repayment period. During the draw period you can borrow as much as you need up to your credit limit. After the draw period, you are responsible for repaying the loan.
Members 1st CU Utah Home Equity Line of Credit offers home equity loans with a maximum term of 15 years with an additional draw period of up to 10 years.
Is there a minimum draw requirement?
No, there isn't a minimum draw requirement.
What range of rates does Members 1st CU Utah Home Equity Line of Credit offer?
Members 1st CU Utah Home Equity Line of Credit offers APRs as low as 3.75% .
Remember the APRs of HELOCs do not include points and financing charges, just the interest rate. Most home equity lines of credit have a variable interest rate. Fixed interest rates -- if available -- typically have higher APRs, but your monthly payments don't change over the life of the line of credit.
What fees does Members 1st CU Utah Home Equity Line of Credit charge for a HELOC?
Members 1st CU Utah Home Equity Line of Credit may charge a loan origination fee .
What types of property can you use as security for a HELOC with Members 1st CU Utah Home Equity Line of Credit?
Lenders often have restrictions on the type of properties they will accept as security for a HELOC. Members 1st CU Utah Home Equity Line of Credit will consider lines of credit secured by the following property types:
- Primary homes.
Message From Members First Credit Union - Utah
Contact
- Headquarters
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P.O. Box 657
Brigham, UT 84302 USA - Visit Site
- Email Support
Other Services by Members First Credit Union - Utah
Availability
Feature Breakdown
| Credit Score Range | 600 - 850 |
| Employment Statuses Considered |
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| Immigration Status Considered |
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| Intended Use | Primary Home |
| Joint Loan Applications Accepted |
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| Military Status |
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| Supported Income Types |
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| Verification Documents Required |
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