Home Equity Loans: Put Your Home to Work
Your house has done more than shelter your family; it's quietly built equity you can use to remodel, consolidate high‑rate debt, or education. Deseret First turns that equity into flexible financing at competitive rates, minimal fees, and terms.
Refinancing Options
Utilize Your Home Equity
Second Mortgage
A traditional installment loan with a fixed interest rate.
HELOC
A Home Equity Line of Credit (HELOC) is a revolving line of credit.
Second Mortgages
A Home Equity Loan
Ideal for value-adding home improvements, debt consolidation, or covering significant expenses. Get a fixed lump sum in the form of a Home Equity Loan—coupled with steady monthly payments that never change. Enjoy the comfort of locked‑in budgeting while you transform a basement into an apartment or wipe out credit‑card balances once and for all.
Terms from 5 to 30 years
Choose the payoff horizon that fits your cash flow
Competitive fixed APRs with no annual or draw fees
Because rates stay put, you’ll know exactly when—and how—you’ll be debt‑free.
Home Equity Line of Credit (HELOC)
Revolving Credit for Evolving Needs
A HELOC gives you flexibility for expenses that come in phases—like tuition, remodeling, or ongoing projects. Draw what you need, when you need it, and pay interest only on what you use.
Enjoy a 10-year draw period with interest-only payments, followed by a 10-year repayment term. Rates are typically much lower than most credit cards and may be tax-deductible (consult your advisor). Transfers and payments are simple through DFCU’s online banking, and there are no origination or annual fees.*
A flexible line that grows and adapts with your family’s goals.
Reverse Mortgage
An Option for Seniors
Use the equity you’ve already put into your home and get some value out of it! Whether you're looking to supplement retirement income, cover unexpected expenses, pay for home improvements, or simply create more financial flexibility, a reverse mortgage can help you make the most of the equity you've earned over the years. This option could be right for you if you’re in your golden years.
Manage life’s transitions gracefully—with lower payments and full control.
Why Choose DFCU for Home Equity
Local Lending, Transparent Terms, and Trusted Counsel
Every DFCU home-equity product is built around one goal: helping members use their resources wisely.
Local underwriting and servicing
Speak directly with Utah-based lenders
Personalized guidance
We’ll help you plan borrowing that aligns with your goals and faith
Transparent pricing
No surprise annual charges or inactivity penalties
Because responsible borrowing begins with trusted relationships.
Ready to Unlock Possibility?
Get a personalized rate quote in minutes, schedule a virtual consult, or jump straight to a secure application. Whatever your “why”, Deseret First will show you how to fund it—responsibly and faithfully.
Become a Member Today
Church members and immediate family members can join the credit union.
APR = Annual Percentage Rate. All loans subject to credit approval and property valuation. Rates, terms, and LTV limits may vary by creditworthiness and location. Consult a tax advisor regarding deductibility of interest. Membership and eligibility required.
*No-Cost HELOC offer covers all closing fees except appraisal or Automated Valuation Model (AVM) fees, which must be paid upfront by the borrower. If the loan is paid off within three years from opening, borrowers must reimburse Deseret First Credit Union for the closing fees paid. HELOC is a variable rate loan with rates as low as Prime Rate plus margin, with a 3.50% floor. Maximum interest rate over the life of the loan is 18% APR. Terms and conditions apply. Contact a loan officer for full details.