United Bank - Home Equity Products

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HOME EQUITY LINE OF CREDIT

Use the equity in your home to finance home improvements, pay tuition, consolidate debts or make major purchases such as an automobile, and you may be eligible for substantial tax advantages (ask your financial advisor for details).

Minimum credit line is $10,000. Rates can change monthly. The Annual Percentage Rate (APR) as of 7/01/09 is 6.25%. Rate based on the Wall Street Journal Prime Rate (3.25% APR as of 7/01/09) plus 3%. The Annual Percentage Rate will never be lower than 5% or higher than 18%. Credit subject to credit approval. The bank may pay all or a portion of your closing costs. Fees for work to cure title problems are not considered closing fees. Applies to owner-occupied properties only. Property insurance is required. Consult a tax advisor regarding the deductibility of interest.

FIXED-RATE HOME EQUITY LOANS

With interest rates on the rise, many consumers with variable-rate loans or high-rate credit cards are looking for lower-cost options with reliable rates.

If you're a homeowner, we have a great alternative:
United Bank's Fixed-Rate Home Equity Loan. Choose a term of 5, 10 or even 15 years, and lock in a rate and a fixed monthly payment - so there are no unpleasant surprises for your budget.

5-Year Term 7.25% APR*

10-Year Term 7.75% APR*

15-Year Term 8.25% APR*

Payment Examples: $25,000/5-year term loan at a rate of 7.25% APR would result in 60 payments of $497.98. $25,000/10-year term loan at a rate of 7.75% APR would result in 120 payments of $300.03. $25,000/15-year term loan at a rate of 8.25% APR would result in 180 payments of $242.54.

Open a new loan or convert your variable-rate home equity line from another institution, and United Bank will pay all or a portion of your closing costs.
Consolidate bills and credit card debt into one convenient payment, and enjoy the added potential bonus of tax-deductible interest. Use your loan to finance home improvements, renovations, major purchases... anything you need.

*Annual Percentage Rates as of 7/01/09. Minimum loan amount is $10,000. Property insurance is required. Consult your financial advisor regarding tax advantages.