Home Equity Line of Credit
- A low, fixed rate loan (see our Loan Rates page for current rates)
- Closing costs only $500 (unless a full appraisal is required)*
- 2 year draw period, followed by a 8 year payback period
- Option to extend the draw period every 2 years
- Minimum monthly payment during draw period of 1.25% of the balance
- Fixed payment during the payback period amortized for 8 years
- Maximum combined loan-to-value of 85% OAC
- Minimum line of credit of $10,000; maximum of $75,000
- Minimum initial draw of only $5,000, subsequent minimum draw of $500
- Interest may be tax deductible**
Get Started With Your Application
Contact a mortgage loan officer at 801-487-3219 (or toll-free at 877-658-7395) to get your Home Equity Loan application and checklist to get started today!
Call Us With Questions - We're Glad To Help
One of our mortgage loan officers will be glad to answer any questions you have about how a Home Equity Line of Credit meets your needs. Call us today at 801-487-3219 (or toll-free at 877-658-7395).
*Closing Costs $500.00 plus appraisal fee of up to $500 (if required). Contact our department to see if a full appraisal will be required for your property.
**Firefighters Credit Union does not provide legal or tax advice. Consult your tax professional to determine whether the interest you pay on your Home Equity Loan is tax deductible.