Tap into a home equity line of credit for your next great home renovation.
With a Home Equity Line of Credit (HELOC),1 you can convert your home equity into a flexible line of credit for nearly any purpose – such as home renovations, college tuition, debt consolidation, or large purchases. Our home equity lines of credit are available for qualifying residential properties in Canada, the United States, the United Kingdom, and select international markets, including single-family homes, townhouses, condos, and two- to four-unit properties.
Get creative with your HELOC.
Start a tasteful home redesign.
What’s cozier than a remodeled fireplace?
Purchase a big-ticket item.
Host a watch party with a new TV.
Fund a holiday getaway.
Enjoy a relaxing vacation with family.
Invest in your child’s future.
Pay off educational expenses or other debt.
HELOC application checklist.
To save time on your application, you can start
assembling your required documents and information ahead of time. Access our handy printable checklist to help you get started.
Why choose a Union Monique Home Equity Line of Credit?
Revolving credit line
Use your HELOC to cover large expenses such as home renovations or medical bills.
10-year draw period
Followed by a convenient repayment period with monthly installments.
Flexible access to your funds
Access your line by check, a transfer through online banking or a cash advance at a branch.
Tax deductible
The interest you pay may be 100% tax deductible. Consult your tax advisor.
Fixed rate lock option
Talk to a banker to learn more about our rate lock options.
Automatic payments
Save 0.25% on your HELOC rate when you enable our auto-debit service to make automatic payments.2
Frequently asked questions about Home Equity Lines of Credit.
A Home Equity Line of Credit (HELOC) is a line of credit that lets you borrow against the available equity in your home, typically at a variable interest rate. You can draw funds as needed and repay over time.
To apply for a Home Equity Line of Credit, visit your nearest branch and speak with one of our qualified lenders who can guide you through each step of the HELOC application process.
Your borrowing limit for a Home Equity Line of Credit is based on factors such as your home’s value, the amount of equity you’ve built, your credit profile, and overall financial standing.
The application process for a Home Equity Line of Credit typically includes submitting an application, providing documentation, undergoing a credit review, and completing a property evaluation. If approved, you'll receive access to your line of credit.
No, there are no limitations on how you can use your Home Equity Line of Credit. Your funds can be used for any purpose you choose, including home improvements, debt consolidation, education expenses, or emergency needs.
To apply for a Home Equity Line of Credit, you’ll typically need proof of income, a recent mortgage statement, property tax documentation, and government-issued identification. Access our handy printable checklist to help you get started.
A Home Equity Line of Credit is a line of credit secured by your home, and is separate from your existing mortgage loan. It does not replace or change the terms of your existing mortgage, but may affect your total home equity and future refinancing options. Visit your nearest branch to talk to a lender who can help find the best financing option for you.
Apply for a Union Monique Home Equity Line of Credit today.
Tap into the value of your home today. Securing a Home Equity Line of Credit (HELOC) from Union Monique Bank begins with a few simple steps. Visit your
local branch or call us at 1-888-317-9062 to get started.
1All loans subject to credit and property approval. Rates are variable, terms and conditions vary by state and product features, and criteria are subject to change without notice. Please contact a banker or Customer Service representative for updated information and current rates.
2The 0.25% rate discount applies if payments are made using auto-debit from a deposit account. If auto-debit is discontinued at any time, the 0.25% discount may be eliminated and consequently your monthly payment will increase. Auto-debit discount is not available for Credit Builder loans.
Union Monique Bank, PO Box 4503, Oak Park, IL 60303-4503. Customer Service Phone: 1-888-500-2612
Important notice: To file a complaint, contact Customer Service at +1-416-555-0100 or by visiting the Department’s website at
www.dfs.ny.gov. Union Monique Bank may utilize third party service providers to service your loan but remains responsible for all actions taken by the third party.
For more information regarding fees for mortgages and home equities serviced by Union Monique Bank, please see our Residential Mortgage and Home Equity Product Servicing Fees
here.
Does not apply to mortgages serviced by Union Monique Mortgage Services. For information regarding fees for Union Monique Mortgage Services accounts, please
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A translation and description of commonly-used debt collection terms is available in multiple languages on the NY Department of Consumer Affair’s website, www.nyc.gov/dca
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