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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.


2nd Mortgage

  • 5 and 10-year fixed payment options.
  • 6-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.
Term Rate APR
5 Year 2nd Mortgage 4.50% 4.50%
10 Year 2nd Mortgage 4.75% 4.75%
HELOC (10 Year Draw) 3.75% 3.75%
Lot Loan (3 year Balloon) 6.25% 6.25%
Construction Loan (12 months) 4.75% 4.75%

With so many options available, let Deseret First help find the right loan for you. Call a Deseret First Mortgage Officer at 801-456-7590 or 1-800-326-3328 ext. 7590, M-F 8:30 am- 5:30 pm.

This is a variable rate loan with rates as low as Prime Rate (shown above) plus zero percent.  Your individual rate may be higher based upon your credit worthiness. Maximum interest rate over the life of the loan is 18% APR. A credit report fee, flood certification fee, and title fees, all required to open the plan, generally cost around $220.00 total.  Property insurance is required.  Terms and conditions apply. Membership and eligibility required.  OAC.

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