Mortgage and Home Equity Loans

United Credit Union offers a variety of home loans, including fixed-rate and adjustable-rate first mortgages, home equity and construction loans.

FIRST MORTGAGE HOME LOAN

Think of UCU first when you are looking for the home of your dreams -- we can help make your dreams come true, with a loan that is tailored just for you. Features covered:

• Home purchase or refinancing of an existing home loan
• Varied terms, up to 30 years
• Qualified applicant may borrow up to 95% of sale price or appraisal (the lesser of the two) on purchase. (Loan-to-value may be lower on manufactured homes.)
• Low closing costs
• Please call for current interest rate and fee information
• Choose from fixed, 1 yr. adjustable, 3 yr. adjustable or 5 yr. adjustable rates

HOME EQUITY LINE OF CREDIT (HELOC) 

Establish a UCU Home Equity Line of Credit and draw on it whenever you need funds for just about anything: a child's college education, a new car or boat, home addition or improvements, a fun vacation, Christmas, or whatever else your loan needs may be. Interest is only calculated on the amount you use and may be tax deductible. And now, for your convenience, order checks for your HELOC loan so you can write checks for whatever expenses you need to pay.  Other features include:

• Borrow up to 90% of your home's value minus first mortgage if first mortgage is held at United Credit Union or no first mortgage OR up to 80% of home's value minus first mortgage if first mortgage held with another lender
• Draw period of five years
• Initial Minimum Advance of $2500 may be required 
• Low Closing Costs
• Interest may be Tax Deductible (contact your tax advisor)
• Can use money for any purpose
• Easily accessible-checks, home banking, TLC, phone and in person 
• Adjustable rate based on prime rate and credit worthiness, not to exceed 18% APR
• Rate subject to adjustment monthly

FIXED HOME EQUITY

If you don't need the flexibility of a line of credit and would like to have more interest rate stability, a Fixed Home Equity loan may be just what you are looking for.  You still use your most powerful borrowing tool to fund just about anything:  a special vacation, college education, bill consolidation, etc.

• Borrow up to 90% of your home's value minus first mortgage if first mortgage is held at United Credit Union or no first mortgage OR up to 80% of home's value minus first mortgage if first mortgage held with another lender
• Low Closing Costs
• Minimum loan of $2500
• Interest may be Tax Deductible (contact your tax advisor)
• Can use money for any purpose
• Fixed Rate throughout life of Loan 
• Rate based on prime rate and credit worthiness

LAND LOANS

UCU is proud to now offer land loans. Whether you are looking to buy hunting land or land for a future build, we have the loan that is right for you. If the land you wish to purchase or refinance is for personal use, please contact our Mortgage Department.

However, if you are looking to purchase or refinance land for business purposes, you may want to speak to our Business Development Representative. You may may either call him at: 573.581.8651, Ext 151 or e-mail him.

CONSTRUCTION LOANS

A UCU Construction Loan can be used to build a new single family residence or to remodel your current residence. Features include:

• Twelve month maturity or end of construction phase, whichever comes first
• Cannot be used to purchase unimproved land
• After construction period, loan may be converted to UCU permanent financing

When you're thinking of borrowing and you're thinking BIG, think of United Credit Union. We offer affordable rates, flexible terms and the service you can count on when making one of the biggest financing decisions of your life. Look to us first, and you will find a courteous, knowledgeable, professional staff ready to meet your needs.

To apply for a home equity loan or for more information, please e-mail our Mortgage Department or call:  573-581-8651.  Click here to apply for a Mortgage Loan.