Beat Rising Interest Rates
on Your HELOC

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Lock In A Fixed Rate

Worried about your home equity line of credit (HELOC) payments getting more expensive with rising interest rates? Don’t be—just convert all or part of your balance into a fixed-rate home equity loan1!

 

Get steady payments when you lock a segment of your HELOC with UWCU.

 

Get predictable payments

Choose how much of your balance you want to lock in, select a term (5, 10 or 15 years) and pay it off with even, easy monthly payments.

Avoid rising rates by fixing a segment of your UWCU HELOC.

 

Avoid interest surges

Whatever amount you lock in will stay at your fixed rate, no matter how much variable rates move.

Stay in the know with helpful financial tips from UWCU.

Helpful Tip

You can lock in your rate up to five times during your draw period. Plus, as you pay down your balance, your funds become available again through your variable-rate HELOC.

How It Works

Here’s an example: say you have a HELOC with a balance of $7,000 and a current variable rate of 5.25% APR. Because of continued rate increases, you want the security of a fixed-rate loan. You can lock all or part of it (minimum of $5,000) into a fixed-rate home equity loan.

You choose to lock $6,000 of that balance into a 5-year fixed-rate home equity loan with a rate of 5.49% APR2. To pay off that balance in exactly 5 years, you’ll pay $115 per month. The interest rate and your payments will stay the same for your entire term.

The $1,000 of your balance that you didn’t convert will still be subject to changes in your variable rate, and so will any other advances you make on your HELOC.

 

Family runs through a living room being remodeled with a UWCU fixed-segment HELOC.

Get Started Today

Get in touch with our home equity experts and find out just how much you can save!

Schedule an Appointment

Schedule an appointment to connect with a UW Credit Union expert.

Appointments are available in person at many of our branch locations.
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