United Bank of Union Home Equity Loans and Lines of Credit
Home equity loans and home equity lines of credit (HELOCs) can be great options for your next remodel, bill consolidation, medical expenses, and more. United Bank of Union has several options - contact us today to find out which is best for you!
Home Equity Loan
Home equity loan funds are disbursed in one lump sum and paid out over an established period of time. This makes the repayment process easy and consistent with a regular monthly payment, just like on any other installment loan. Home equity loans are commonly used for a remodel or a debt consolidation as funds are disbursed for a one-time expense.
Home Equity Line of Credit (HELOC)
HELOCs are open ends of credit that allow for various withdrawals to be made over time against the line of credit. HELOCs can be a great option for expenses that may incur over a span of time, such as a large home improvement project or college tuition.