Support Topics
Home Equity
Popular Questions
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There are different amounts you can borrow based on our Fixed Home Equity Loan and Home Equity Line of Credit (HELOC) loan programs.
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You will want to apply before you sign any agreements or contracts with contractors or suppliers for any materials that you will need for your project and allow enough time for your loan to be processed and funded prior to doing so. If you have any specific questions, please ask your Unitus Home Equity Expert.
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Use the funds how you like for purposes like; home renovations and remodeling, hight-rate debt consolidation, create a rainy day fund for emergencies, purchasing another home, or other major life events and expenses.
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Current Assessed/Appraisal Value of home ($450,000) minus Balance of Mortgage ($200,000) = Your Equity ($250,000).
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Yes, using the same calculation Current Assessed/Appraisal Value of home minus Balance of Mortgage = Your Equity and product chosen, either a Fixed Home Equity Loan or Home Equity Line of Credit (HELOC) will determine how much you can be eligible to borrow.
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