skip to main content
Build your dream home with our no annual fee, no-closing cost home equity loans.
Plus, enjoy a 6-month intro rate of 5.99% APR4 then, as low as 7.75% APR2 with autopay from a United checking account.
Home equity is the difference between your home’s market value and the amount that you owe on your mortgage. You can borrow against your home’s equity to fund large projects or major expenses.
A home equity installment loan and a home equity line of credit (HELOC) are both great ways to borrow funds for home improvement or remodeling projects, or to help pay for college tuition, debt consolidation, medical expenses, and other large expenses. Here’s how they work.
With a home equity installment loan, you receive your funds in a single lump sum. This type of loan is ideal if you have a large, one-time expense, or if you want to consolidate debt and focus on paying it off. It offers fixed rates and a steady monthly repayment schedule for up to 15 years. Since the loan is secured by your home’s equity, the interest you pay may be tax deductible.
As low as
7.05%
APR1
rates vary by state, see today's rates.
features
A home equity line of credit lets you borrow funds when you need them, up to your available credit line. With this revolving line of credit, you can borrow, repay, and borrow again. Much like a credit card, the credit amount becomes available again as the outstanding balance is repaid. This can be useful if you’re planning a major project with multiple expenses or if you want ongoing access to funds for emergencies. HELOCs feature flexible repayment options.
As low as
7.75%
APR1
rates vary by state, see today's rates.
features
With United, there are no origination fees, closing costs, or annual fees. Both our Home Equity Installment Loan and our Home Equity Line of Credit are not limited to any specific use and are easy to apply for online. Best yet, by signing up for autopay with your Ultra Checking or Rewards Checking account, you’ll receive a discount on your rate5.
Get the breakdown of what makes our Home Equity Installment Loan and Home Equity Line of Credit different from one another.
While the rate on HELOCs is variable, it is tied to the Wall Street Journal Prime Rate which is easy to track and the rate is capped. In the event of an increase in rate, the required amount for a minimum payment, 1.5% or $100 whichever is greater, will never change.
Home Equity Installment Loans by United are available on owner occupied dwellings only, primary and secondary homes. They are not eligible if the property is currently listed for sale or draws an income (as a rental or AirBnB). Our Home Equity Loans are available in every state except Hawaii, Alaska, and Texas.
A: In some situations, a home equity installment loan may meet the federal government’s definition of a “Higher Priced Mortgage Loan.” In such cases, if there is no first mortgage prior to your home equity installment loan, you will be required to establish and maintain an escrow account for payment of taxes and insurance for a minimum of 5 years. If the loan is deemed to be a High-Cost Mortgage loan, you will also be required by law to go through pre-counseling.
In instances where a HELOC application is identified as being a High-Cost Mortgage, the transaction cannot be continued as a HELOC. Instead it can be changed to a Home Equity Installment Loan or some other loan product, if viable.
A: Home equity loans and lines of credit approvals are valid for 60 days from the credit report date.
A: The amount of your loan or line of credit is determined based on the amount of equity in the house and whether the Combined Loan to Value (CLTV) is over or under 80%.
A: United offers the payment option of interest only. With a traditional HELOC, you begin paying back both principal and interest right away, month by month. With an interest-only HELOC, you pay only the monthly interest during the draw period. Once the draw period is completed, you begin to repay the principal. This can typically minimize the size of your monthly payments initially. However, the low payments on an interest-only HELOC could increase significantly once the draw period ends and the repayment for the principal begins.
APR=Annual Percentage Rate. Subject to credit approval. Advertised rates as of 4/1/2025, rates subject to change without notice. Home Equity Loans are currently not available in Alaska, Hawaii or Texas.
[1] Equity loans up to 95% of home value. Loans over 80% of home value will incur a 2.25% APR premium in addition to the APR as low as rate listed above. Rates include 0.25% discount with automatic payment from an Ultra or Rewards checking account. Rates vary by state, as low as 7.05% to as high as 18.00% APR (as high as 17.00% APR in Arkansas and Oklahoma). Example Payment: 120 monthly payments of $10.85 per $1,000 borrowed, which does not include taxes or insurance; actual payment obligation will be higher. $250 may be charged for early termination. Property insurance required.
[2] Equity loans up to 90% of home value. Loans over 80% of home value will incur a 1.00% APR premium in addition to the APR as low as rate listed above. Base rates vary by state, as low as 7.75% APR to as high as 18.00% APR (as high as 17.00% APR in Arkansas and Oklahoma) based on Combined-Loan-To-Value (CLTV), line amount and credit score. Advertised rates include 0.25% discount with automatic payment from an Ultra or Rewards checking account. Account features a variable periodic rate, maximum of 18.00% APR. minimum monthly payment is 1.5% of the loan balance or $100, whichever is greater, rounded to the nearest dollar. Minimum payments may not be sufficient to fully repay principal; entire remaining balance must be paid in single payment. Property insurance required. 2 Up to 90% Combined-Loan-To-Value (CLTV). Must draw $15,000 or 40% of your approved credit line, whichever is less, at time of loan closing, and have a qualifying credit score.
[3] Equity loans up to 80% of home value. Loans over 80% of home value will incur a 1.00% APR premium in addition to the APR as low as rate listed above. Rates vary between 8.00% APR and 18.00% APR (as high as 17.00% APR in Arkansas and Oklahoma) based on Combined-Loan-To-Value (CLTV), line amount and credit score. Rates include 0.25% discount with automatic payment from an Ultra or Rewards checking account. Account features a variable periodic rate, maximum of 18.00% APR (as high as 17.00% APR in Arkansas and Oklahoma). Minimum monthly payment is 1.5% of the loan balance or $100, whichever is greater, rounded to the nearest dollar. Minimum payments may not be sufficient to fully repay principal; entire remaining balance must be paid in single payment. Property insurance required. Consult a tax adviser regarding the deductibility of interest. Example Payment: $25,000 borrowed at 3.75% APR for 120 months equals $256 per month.
[4] This introductory APR applies only to new loans approved on or after 4/1/2025 and is effective from the same date. The plan will convert to variable rate after the first 6 months. Your APR is then based on the Wall Street Journal prime rate and may adjust monthly. After the introductory period, the APR can range from 7.75% to 18.00% APR (17.00% APR in Arkansas and Oklahoma) based on the current Wall Street Journal prime rate. Approval and rate may vary based on credit history, term and security offered. Minimum qualifications for the introductory rate include 90% maximum combined loan to value and a minimum credit score of 640. Minimum loan amount of $10,000 is required to apply. Maximum loan amount possible is $300,000 for credit scores 640 and above. Must draw $15,000 or 40% of approved credit line, whichever is less, at time of closing. Rate discounts and premiums will not apply to the introductory rate but will apply to variable rate after intro period. Other restrictions may apply. Reimbursement of waived third-party fees required if closed within 24 months. Loan programs, rates, fees, conditions, and terms subject to change at any time and may be terminated without notice. It’s advisable to consult with a tax advisor regarding the deductibility of interest, and property insurance is required.
[5] Autopay discount is 0.25% with the setup of automatic payment from an Ultra or Rewards checking account.
[6] Debt Protection products are available independently of credit, are not a condition of credit, are provided by a third-party partner and not insured by NCUA. You will receive additional information before you are required to pay for Debt Protection, which will include a copy of the contract containing the terms and conditions of Debt Protection. There are eligibility requirements, conditions and exclusions that could prevent you from receiving Debt Protection. See the contract for a full explanation of the terms and conditions of the program.
Truth-In-Lending Home Equity Line of Credit Disclosure (PDF)
Truth-In-Lending Home Equity Line of Credit Interest Only Disclosure (PDF)
Continuing will take you from United Federal Credit Union to a third-party website. United does not endorse or guarantee the accuracy of the information on this external site, which is not controlled by United. Accessing this site is your decision and subject to its terms and conditions.