A home Equity line of Credit

One Home Equity Credit Line

To know what a home equity line of credit (HELOC) loan is, how it works, how to shop for one and how to repay one can be confusing. Let's sort this out for you. Transform your home's equity into a Union Bank & Trust home equity line of credit to finance renovations, college and more.

Home-equity credit line | HELOC Interest rates

And for a finite time: Prices as low as Prime for Life make your home's equity into a low interest Home Equity Line of Credit (HELOC), which you can use to fund home renovation, collegiate costs or anything else, plus consolidate debts if you have high interest loan elsewhere. Now that you've invested so much of your home and so much cash in it, it's your turn to take full benefit of it.

If you have unanticipated expenditure or project funding, consider how a HELOC from Union can help, and you can be confident that you are ready for everything your lives have to offer. Predict your regular montly payment when you close all or part of your credit at a regular interest pace.

Obtain an advancement at a set interest at the end of the drawing or at any point during the drawing year. Annual Percentage Rates are 5.00%, a floating interest which may vary is available for requests submitted between 18 June and 30 September 18 and 30 November 18. Each balance is computed at an annual floating interest factor based on the prime rates of the Wall Street Journal (from 10 August 2018 the prime rates were 5.00%) plus a spread of 0.00% over the term of the facility.

In order to receive the promoted tariff, claimants must have a Beacon Score of 720 or more and an automated withdrawal of his/her montly payment from an EU current accounts is necessary. The offering is conditional upon credit approvals and is contingent upon a US$25,000 equity line requirement with a 80% limit on aggregate credit-to-value.

The offering is not available to Union Equity Line's current clients. The Union Home Equity credit line has a 15-year drawing horizon with a 15-year payback horizon. However, other charges may be levied at the time of creation, closure or after closure and range from US$150 to US$2,000. The bank will cover all closure charges for non-purchase equity line up to $249,999.

Equity-linked $250,000 or more and subordinated equity linked credit facilities used for the acquisition of cash will be credited $600 for the closure of the cost. If, however, your Bank Statement is terminated within three (3) years of the opening date, we will include the closure charges invoiced by us on your name in your pending refund balances.

As a rule, the overall acquisition cost is between 150 and 2,000 US dollars. You can waive your annuity with a qualifying Union Current Accounts; check with your local bank for full particulars.

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