Home Equity Loans and Lines of Credit

Home Equity Loans and Lines of Credit

The Equity In Your Home Can Get You To Where You Want to Be

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  • Confidence

    Home equity loans and lines of credit can seem complicated. We are here to give you the knowledge you need to make the best choice. Our goal is to help you understand how they work and what the benefits and cons might be. This way, when you make a choice, your confident it is the right one.

  • Care

    We are your neighbor, and we treat you like family. We hustle to get your loan closed fast, and we make sure that you are getting what you want. We are owned by our members. We don’t answer to our shareholders, we answer to those who use our services.

  • Personalized

    There are many ways to use the equity in your home to help you accomplish your goals. Only one way will be best for you and your family. We will help you get a loan or line of credit that fits your budget, and is best for your goals.

Looking To Use the Equity in Your Home, but Feel Overwhelmed by How Complex it Seems?

How does a Home Equity Line of Credit work?

What does CLTV mean?

How much can I afford?

Equity In Your Home Can Give You Great Financial Possibilities. You Deserve to Be Able To Take Advantage.

At United Teletech Financial we know that you want to use the equity your home to finance your dreams. In order to do that, you need a lender that can help you find an option that you understand and works for you. The problem is, home equity loans and lines of credit are complicated, which makes you feel uncertain. We believe everyone should be able to open up the financial possibilities home equity loans and lines of credit offer.

  • home equity loans and lines of credit

    Fixed Home Equity Loans

    Rates as low as 3.25% APR*** + No Closing Costs

    Do you have equity in your home? If so, you have the option to take out a fixed home equity loan using that amount of equity. Through this loan, you can take out a set amount of money and pay it back in fixed monthly payments over a fixed term.

    5, 7 and 10 year terms available

  • home equity lines of credit

    Home Equity Lines of Credit

    Introductory Rate of 1.99% APR* –

    After as low as Prime – 0.50% (currently 2.75%) + No Closing Costs

    Have you already set your financial plans into motion? If you’re expecting large expenses or you don’t know how much you’ll need to borrow, a home equity line of credit or HELOC is a perfect option for you. HELOCs give you a line of credit you can draw from (similar to credit cards). Plus, they have a 10-year draw period with a 5-year repayment period.

    For both fixed home equity loans and HELOCs, your mortgage and loan must be less than 85%** of the value of your home. Check out our free calculator to determine your loan amount with your desired payment.

Three Simple Steps

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    Give us a call at 866-462-5532.

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    Speak to one of our home equity specialists. Tell us your goals, and we will find a way to help you get there.

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    Open Up Possibilities

    Once we know what you want to accomplish, and what works with your budget, we will get you approved and closed quickly.

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* APR=Annual Percentage Rate. APR is based on the Wall Street Journal’s Prime Rate plus or minus a margin. The Prime Rate as of 1/1/2021 is 3.25% and may change at any time without notice. A HELOC’s Stated Rate (Prime Rate plus or minus the margin) cannot exceed 18% and is based on creditworthiness. It may include a discount for automatic payment from a qualifying United Teletech checking account. Fees of $511 to $925 may apply, but can be waived as part of a promotional event. A Minimum Draw of $25,000 or 50% of the line amount, whichever is smaller, is required to waive fees and must remain drawn for no less than three (3) months. The HELOC may not exceed 90% Combined Loan-To-Value (CLTV). The Maximum Line amount is $350,000. This offer is available to qualified borrowers on 1-4 family primary NJ residences and is not valid for refinancing of existing UTF Home Equity Lines less than eight (8) years old. Property insurance is required. HELOC rates adjust monthly based on Prime Rate. The Prime Rate listed in the Wall Street Journal on the 3rd Thursday of the preceding month will be used to determine rate adjustments. The floor rate is 3%. Those securing a non-single family home may require more equity.  Stated rates are for new loans. Members wishing to refinance an existing UTF loan must pay a fee of 1% of the existing balance.

**Loans with over 80% CLTV may have different pricing

*****APR=Annual Percentage Rate. Home Equity loans may not exceed 90% Combined Loan-To-Value (CLTV). Rates advertised are for up to 80% CLTV. Max Line amount is $350,000. Stated rate includes discount for electronic payment.  Offer available to qualified borrowers on 1-4 family primary NJ residences. Offer not valid for refinancing of existing UTF Home Equity Lines less than eight (8) years old. Property insurance is required. For additional information call 866-462-5532. NMLS# 402779