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Ideal for customers who: Interest rate type: Loan amounts available:¹ Maximum loan term available:² Payment options:³ Fixed-rate option:⁴

Home Equity Term Loan

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Have a specific borrowing need and prefer a fixed rate loan with fixed monthly payments

Fixed $5,000 - $350,000 180 months

Principal plus interest

Not available

Home Equity Line of Credit

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Want flexible monthly payments and access to a revolving line of credit for ongoing credit needs

Variable with a fixed-rate option $5,000 - $350,000 300 month term with a 120-month draw period followed by a 180-month repayment period
  • Principal plus interest 
  • Interest only
Fix the outstanding loan balance into a fixed-rate home equity loan

All loan applications are subject to approval. Interest rates vary based on credit score and other credit criteria, including loan to value for home-secured loan requests.

1 Loan Sizes in excess of $250,000 require Univest to be in 1st lien position. 

2 The Home Equity Line of Credit has a variable annual percentage rate (APR) for the first 120-month (10-year) draw period. The APR is based on the published Prime Rate published in The Wall Street Journal, plus a margin. The current Prime Rate is 3.50%, as of February 11, 2016. The minimum APR is 3.00%; maximum APR is 18.00%. The actual interest rate and terms may change at any time before or after account opening. At the expiration of the 120-month (10-year) draw period the balance will convert to a 180-month (15-year) fixed principal and interest payment at a rate in effect at that time.

3 Payment options apply only to the 10-year draw period for home equity lines of credit. Interest-only lines of credit provide for the payment of interest for a set period of time (120-month draw period) and payments of principal and interest for the remainder of the loan term (180-month fixed repayment period). During the interest-only period, principal is not reduced. At the end of this period, your monthly payment will increase, possibly substantially, even if you have a fixed interest rate because you will be required to pay both interest and principal. Always consider paying more than the minimum payment to pay down the principal.

4 Fixed-rate loan option applies to home equity lines of credit with an outstanding balance of $5,000 or more.  The minimum loan amount for a fixed-rate loan is $5,000 with a maximum term of 180 months.  Maximum of 3 interest rate locks at any one time.  $100 fee per interest rate lock.