If you are looking
for credit for nearly any purpose, a
Home Equity Loan might be the right
choice for you. Whether you are
looking to consolidate debt, add a
new room to your home, buy a new
car, or pay for college tuition, you
can use the equity in you home as a
source of low cost credit.
Program Highlights and Benefits
The UCU Home Equity Loan
allows you to borrow up to $125,000
based on 80% of the current appraisal
value of your home, less the first
mortgage balance.
You may choose from
repayment terms of five, ten, fifteen or
twenty years.
Fixed rate is dependent
on which repayment term is chosen.
The Home Equity Loan has
no closing costs if loan amount is
$10,000 or greater.
There are no prepayment
penalties or annual fees.
A Home Equity Loan from
UCU may be tax deductible. Make sure to
check with your tax advisor.
Apply securely online and
receive your loan decision within 60
seconds! All loans are subject to
final review. If you would like an
application sent to you, simple call
the Credit Union at (617) 739-7447
with your request.
Once you have
completed your application, make
sure to send the following
documentation along with it:
-
Paystub(s)/Tax Returns
-
Copy of the Deed
-
Copy of the most recent property tax
bill
-
Copy of the most recent mortgage
statement
Completed
applications can be sent to the
Credit Union via
mail or facsimile at (617)
739-8346.
Questions?
Our experienced loan
officers are always available to
answer your questions. Simply call
a UCU home loan specialist at (617)
739-7447 ext. 246 or email
universitycredit@universitycu.org
with your equity questions.
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United State Government. National Credit Union Administration, a U.S. Government Agency.
Branch:
846 Commonwealth Avenue - Boston, MA 02215
