Home Equity Loan
All rates listed on this page are valid as of February 6, 2025 are subject to change without notice.
Perfect for those individuals who need a specific amount of money for a one-time expense.
Loan Details:
Rate:
APR* as low as
6.00%
*APR = Annual Percentage Rate.
Terms:
5, 10, and 15 years
Home Equity Line of Credit (HELOC) – First Mortgage Not With UKRFCU
Perfect for those individuals who expect to have ongoing expenses. This is a great option if you want the ability to borrow as little or as much as you want, whenever you need it.
Loan Details:
Rate:
APR* as low as
6.75%
*APR = Annual Percentage Rate.
Terms:
5-year draw, 20-year repayment period
Home Equity Line of Credit (HELOC)
Perfect for those individuals who expect to have ongoing expenses. This is a great option if you want the ability to borrow as little or as much as you want and have the lowest possible payment.
Loan Details:
Rate:
APR* as low as
6.75%
*APR = Annual Percentage Rate.
Terms:
10-year draw, 15-year repayment period
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Disclosures
Read the Home Equity Options Options’ Terms and Conditions.

Financial Calculators
Use our Auto Calculators to see what would work best for you.
Questions?
A home equity loan involves borrowing a fixed amount of money at one time. With home equity loans, you can generally borrow up to 90 percent of the current appraised value of your home, minus your outstanding mortgage balance. Home equity loans often come with a fixed interest rate and term, and your monthly payments include principal and interest.
With a home equity line of credit (HELOC), you can establish a line of credit against the equity in your home and draw on the money as you need it. The initial amount you can borrow is set by the lender, but you can typically borrow up to 90 percent of the current appraised value of your home, minus your outstanding mortgage balance. HELOCs almost always carry a variable interest rate. You only have to pay interest on the amount outstanding. Keep in mind, though, that the total amount withdrawn will have to be repaid or refinanced at the end of the term.
A HELOC offers you flexibility because you can draw money from the line of credit as you need it and pay back accordingly. A HELOC can be used for a one-time expenditure or ongoing financing needs. Plus, you may enjoy having a “safety net” available in case of a financial emergency.
On the other hand, a home equity loan can be a good option if you need a set amount of money for a specific purpose. Plus, a home equity loan is a smart choice if you prefer the safety of a fixed rate and fixed payments, especially in a rising rate environment.
As an added benefit, under some circumstances the interest on a home equity line or loan may be tax-deductible. Please consult your tax adviser.
No matter what your borrowing needs are, be sure to contact UKRFCU for rates and terms on a loan that fits your budget. Call our Loan Department at 215-725-4430.