HELOCs and second mortgages allow a homeowner to borrow against the equity in their home.

HELOC (Home Equity Line of Credit)

  • No origination fee.
  • 20-year term (10-year draw, 10-year repayment).
  • No Private Mortgage Insurance (PMI).
  • Up to 115% loan-to-value.
  • Utah and Idaho only.
  • Piggyback loans available for purchase and refinance.
Apply now

2nd Mortgage

  • No origination fee.
  • 5 and 10-year fixed payment options.
  • 5-year balloon option with payments calculated over 15 years.
  • No Private Mortgage Insurance (PMI).
  • Up to 115% loan-to-value.
  • Lending in most states (contact a Mortgage Officer for details).
  • Piggyback loans available for purchase and refinance.
 Apply Now
 

Term Rate APR
5 Year 2nd Mortgage 4.500% 4.500%
10 Year 2nd Mortgage 4.750% 4.750%
HELOC (10 Year Draw) Prime(3.25%) +0 Prime(3.25%) +0
 
With so many options available, let Deseret First help find the right loan for you. Call a Deseret First Mortgage Officer at 801-456-7070 or 1-800-326-3328 ext. 7070, M-F 8:30 am- 5:30 pm.
 
Annual Percentage Rate (APR) for HELOC is Prime Rate plus zero percent. This is a variable rate. Maximum interest rate over the life of the loan is 18% APR. Property insurance is required. Recording fee may apply. Third party fees apply, generally between $200-$800. Terms and conditions apply. 

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