Information and Alerts

Home Equity Loans

More loan options from us, more flexibility for you

Utilize Your Home Equity

Want to centralize your debt? Or is your kitchen in need of an overhaul? How many shingles are missing from your roof or have you had any other unexpected life event? Let the equity in your home work for you with one of our home equity products from Deseret First. As a result, you can remodel, pay off other debts, or build a deck!

couple remodeling their home, measuring a wall


A Home Equity Line of Credit (HELOC) is a revolving line of credit with a 20-year term. To explain further, it includes a 10-year draw period and another 10 years for repayment. The draw phase is when you can use your equity as you need. Next, during the repayment phase you'll pay back the balance until it's paid in full.

couple visiting with a mortgage officer, going over paperwork

Second Mortgages

HELOC may be a good short-term option; conversely, a second mortgage is better for long term debt. It also differs in that you get the lump sum initially, then pay off over the full term of the loan. Deseret First's second mortgage option is a traditional closed-end loan. You can choose between fixed-rate or balloon terms.

large home with beautiful landscaping

Reverse Mortgage

Use the equity you've already put into your home and get some value out of it! For example, you can use a reverse mortgage to pay off other debts, such as credit cards, car loans and medical bills. Worry less about bills and paying back loans and enjoy more time with your family when you get a reverse mortgage. If you are on a fixed income and need extra monthly help, a reverse mortgage could be right for you.

Options for Seniors

Do more with your home investment!