Ogden, 03/10/2017 – Wasatch Peaks Credit Union, a credit union offering a wide selection of financial products, offers home equity loans. This loan has a fixed introductory rate of 1.99% for 6 months and a variable rate of 4% after the introductory period. The interest rate is usually tax-deductible (the credit union recommends customers to check with their tax advisor). In addition, both the terms and the interest rate will be at competitive pricing with little to no closing costs or fees.

Where to Use a Home Equity Loan

The credit union says that a home equity loan is a wise way of tapping into reserve equity to obtain the cash homeowners need. Customers can use the home equity line of credit for college tuition, weddings, home improvement, and other expected expenses. They can also use it for any unforeseen expenses as this loan is a source of funds that homeowners can access right away.

Applying for a Home Equity Line of Credit

Before applying for a home equity loan, Wasatch Peaks Credit Union advises customers to read the two home equity loan-related documents located at the credit union’s website. Clients who have read these documents and are ready to apply may do so online by visiting the home equity loan page of the credit union’s website. They will need to supply information, including basic applicant information, personal contact information, housing information, employment information, and reference contact information.

Documentation Needed in a Home Equity Loan

The credit union will ask customers for these documents to help speed up the loan approval process:
• Homeowner’s Insurance Statement
• Current or Recent Appraisal
• First Mortgage Statement
• Two Years’ Tax Returns (Personal and Business Tax Returns for Self-Employed Applicants)
• Income Verification Documents

About Wasatch Peaks Credit Union

The credit union offers a wide range of financial products, including savings accounts, business loans, mortgage loans, and insurance. Its mission is to surpass expectations one member at a time.

Visit https://wasatchpeaks.com for more information.