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Last Updated: 04/18/2025

Members 1st CU Utah Home Equity Line of Credit

in Home Equity Lines of Credit from Members First Credit Union - Utah

Last Updated: 04/18/2025

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Highlights

Credit Score Range

600 - 850

Amount Range

Up to $100,000

Maximum LTV

N/A

Minimum Draw

N/A

Loan Term (Years)

Up to 15

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 are available in 1 state.

Key Takeaways

Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for Members 1st CU Utah Home Equity Line of Credit.
Only primary residences considered. Members 1st CU Utah Home Equity Line of Credit does not offer financing for vacation homes or investment properties.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.

Members 1st CU Utah Home Equity Line of Credit Pros & Cons

Pros

Cons

Considers applicants with fair credit.

Charges an origination fee.
Charges prepayment fees.
No co-sign option available.
Only available in 1 state.

Members 1st CU Utah Home Equity Line of Credit FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit secured by your home. Once approved, you can access funds by check, phone, credit card, or online up to your credit limit.

Borrowers can apply for lines of credit of up to $100,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.

Typically, borrowers with good credit can qualify for up to 85% of the property value, minus the balance on their first mortgage.

What are the terms for Members 1st CU Utah Home Equity Line of Credit?

HELOCs include a draw period followed by a repayment period. During the draw period, borrowers can access funds as needed up to the credit limit.

Members 1st CU Utah Home Equity Line of Credit offers home equity loans with a maximum term of 15 years and a draw period of up to 10 years.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

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 an origination fee.

What types of property can you use as security for a HELOC with Members 1st CU Utah Home Equity Line of Credit?

Members First Credit Union - Utah may consider HELOCs secured by the following property types:

Primary residences

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Message from Members 1st CU Utah Home Equity Line of Credit

The equity in your home is a great financial resource. Get the cash you need at a great rate to finance your dreams. The interest you pay may be tax deductible (please consult your tax advisor regarding deductibility of interest). Consolidate your high-interest debts. Remodel or add-on to your home. Put yourself or kids through college. Purchase the car or truck you've always wanted.

Contact

Headquarters

P.O. Box 657

Brigham, UT 84302

Visit Site

Email Support

Hours of Operation

Sunday

Closed

Monday

9:00AM - 5:00PM

Tuesday

9:00AM - 5:00PM

Wednesday

9:00AM - 5:00PM

Thursday

9:00AM - 5:00PM

Friday

9:00AM - 6:00PM

Saturday

9:00AM - 2:00PM

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SuperMoney Net Recommendation Score

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-1000+100

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