HOME EQUITY LOANS

HOME EQUITY LOANS

Unlock the Value of Your Home.

If you’ve invested in a home and watched your equity build over the years, you can tap that equity for a new car, home improvements, college tuition, or whatever you need financing for.

Home Equity Line of Credit (HELOC) 

Borrow up to 100% of the equity in your home – with low closing costs3, fast processing and convenient access to your line of credit!

Conveniently advance funds as you need them:

  • Advance funds yourself via online our HOMEBRANCH 4 or through your smart device via MOBILEBRANCH5 to your credit union accounts to be accessed through your checking account or transferred to another financial institution via A2A.
  • Advance funds over-the-phone or in-person at the credit union. Funds can be deposited in your credit union accounts or we can cut a check to you.
  • Advance funds with special Home Equity checks.

We even give you the ability to LOCK all or a portion of your balance in to a low fixed rate home equity loan!2

Apply online today to get the process started. For more information, send us a message or give us a call at 402-544-2500 or 800-370-2260 (Toll-Free).

Home Equity Line of Credit LOCK Program 

Members can lock in a portion of their outstanding balance on their HELOC for a LOCK Fee of 1% loan balance. This balance will be transferred to a new loan account with a payment based on the maturity of the “parent” HELOC. This amount will be deducted from the available credit limit of the “parent” HELOC. The remaining credit limit can’t be increased unless the HELOC is refinanced. 

The minimum balance to LOCK is $10,000. Members may have multiple LOCK sub-accounts up to the maximum credit limit of the “parent” HELOC. Subaccounts can’t be combined unless “parent” HELOC is refinanced. 

LOCK rates will be based on the current program rate, not promotional rate.

HELOC Program Details

Draw/Repay

10-year draw with 15-year maturity.

Advances

Member Check – POS 
Direct Transfer to CU Checking – Online (Web/Mobile)/Call Center/In-Branch
Cash Withdrawal from Teller – In Branch Official Check – Call Center/In-Branch

Advance Fee

None.

Switch to Fixed Rate

1% of outstanding balance with a minimum $100 fee.

Index Base

Prime Interest Rate based on 13-week benchmark.

Minimum Payment

Outstanding Balances / Months to Maturity, $100 minimum payment.
Recalculates if rate changes or advance – EOM + 30 days.

Late Fee

5% of payment. Late payment should reflect towards minimum payment.

Payment Allocation

Fees + Interest + Principal Rate

Re-calculation Period

Quarterly

What happens at maturity?

If paid in full, lien is released with paid lien release fee.

Dormant Fee

If paid in full, lien is released with paid lien release fee.
Dormant Fee: $10 a month after 12 months with no activity or balance.

Closing Costs

Flood/Valuation/Search/Documents/Lien
Notation/Closing Fee

HELOC Rates

Rates As Low As*

HELOC ≤ 80% Cumulative Loan-to-Value

Index Rate: 3.25% (6/1/2020)
Ranges of Rates: 3.00% to 6.25% (based on Credit Tier Level
Promotional Rates: 1.99% to 3.99% (On balances through 6/30/2021)

HELOC ≤ 90% Cumulative Loan-to-Value

Index Rate: 3.25% (6/1/2020)
Ranges of Rates: 3.50% to 5.75% (based on Credit Tier Level
Promotional Rates: 2.99% to 4.99% (On balances through 6/30/2021)

HELOC ≤ 100% Cumulative Loan-to-Value

Index Rate: 3.25% (6/1/2020)
Ranges of Rates: 5.25% to 5.50% (based on Credit Tier Level

* APR is Annual Percentage Rate. Actual Rate will vary based on your creditworthiness and Loan-to-Value. Home Equity Line of Credit (HELOC) is a variable interest loan product in which the rate may be adjusted on a quarterly basis based on the Prime Interest Rate plus a margin based on your program. Maximum interest rate is 18.00% APR. All loans are subject to approval. 

Notes:

  1. APR is Annual Percentage Rate. Introductory rate is fixed for on balances through June 30, 2021. At that time, all balances will convert to the prevailing variable rate of the loan program. Actual Introductory Rate will vary based on your creditworthiness and Loan-to-Value. 1.99% APR is available to borrowers with credit scores of 700 or above and ≤80% LTV and fulfill all underwriting requirements. Loan program are available up to 100% LTV. All loans are subject to approval.
  2. Home Equity Line of Credit (HELOC) is a variable interest loan product in which the rate may be adjusted on a quarterly basis based on the Prime Interest Rate plus a margin based on your program. Maximum interest rate is 18.00% APR. Members may LOCK in a portion of their balance at a fixed rate for the life of the loan based on a fee of 1% of the outstanding balance. Your credit line may be adjusted based on the portion you lock-in at fixed rate. 
  3. Closing Costs will vary based on the location of your property and property valuation method and can be financed into your loan. We can process and close loans nationwide. 
  4. Enrollment in HOMEBRANCH via our website, www.upcu.org, is required. We recommend opening a checking account with our FREE Visa® Debit Card to get the most from your HELOC. 
  5. Our mobile application is available from the Apple App Store or GooglePlay Store.

Ready to become a member?

Join Today

Our Office

1400 Douglas Street - Mailstop 0040
Omaha, Nebraska 68179-1001

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Get in Touch

Phone
Local: (402) 544-2500
Toll-Free: (800) 370-2260

E-mail
memberservice@upcu.org

ABA Routing Number

304083451