Granite Credit Union recently introduced the LowPay Home Equity Line of Credit (HELOC) to help homeowners consolidate debt or fund important expenses.
Todd Hatfield, VP Consumer and Mortgage Lending, explained the LowPay HELOC offers a lower required monthly payment, making it easier for homeowners to manage their budget.
And, he says, with a 5-year draw period and a 10-year repayment period, homeowners can access funds when they need them.
He says, "It's a great tool for consolidating high-interest debt, funding home improvements, or handling unexpected expenses. Homeowners can borrow only what they need, and the interest rate is typically lower than credit cards or personal loans."
For those looking to buy a home, Granite Credit Union offers a variety of home loan options, including fixed-rate and adjustable-rate mortgages, jumbo loans, and first-time homebuyer programs.
Granite also has bilingual Spanish-speaking mortgage officers to help people through the process.
Visit granite.org/real-estate loans, visit a branch or call 801-288-3000 to learn more.
