5/10-Year Home Equity Loan

For customers who want a term loan with lower, fixed monthly payments for the first 5 years amortized over 15 years.

Loan Terms:

180 months

Loan Amounts:

$5,000 - $350,000 1

Collateral:

Up to 85% of the appraised value on primary residences

Up to 80% of the appraised value on secondary residences

Up to 75% of the appraised value on investment properties

Monthly Payment:

Principal plus interest

Annual Fee:

No annual fee

Closing Costs:

  • $250 processing fee
  • Appraisal fees vary

Additional Features:

One-time interest rate adjustment 2

Low lifetime interest rate adjustment of no more than 6.00% above the initial interest rate

0.25% Annual Percentage Rate discount on loan interest rates with automatic payment from a Univest checking or savings account

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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. Property insurance is required. Consult a tax advisor regarding the deductibility of interest.

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

2 The initial 60-month (5-year) annual percentage rate (APR) is fixed with an amortized payment based on 180 months. At the end of the first 60 months the APR will adjust one time for the remaining 120-month (10-year) period. This adjustment is based on the Prime Rate published in The Wall Street Journal 45 days prior to the end of the 60-month period, plus a margin. The margin is determined at application and is based on credit score and other credit criteria, including combined loan to value. The current Prime Rate is 3.25%, as of July 24, 2014. The outstanding loan balance at the end of the first 60-month period will be fully amortized over the remaining 120-month period. Your monthly payment could increase, possibly significantly, at the end of the 60-month period. The minimum APR is 3.00%; maximum APR is 10.25%. Loan is subject to a lifetime adjustment cap of 6.00% over the initial rate. Margin index is rounded to the nearest 0.125%.

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