Make your mortgage payments work for you. At United American Bank, we can help you use the equity you’ve built within your home as collateral for affordable financing for many other needs.
We offer both home equity loans and lines of credit, so you can choose which works best for your unique situation. With either option, you can expect competitive rates, flexible repayment terms, and detailed service.
Freedom Home Equity Line
The Freedom Home Equity Line gives you access to the equity you have in your home and makes you the loan officer. You can access the credit anytime to make home improvements, buy a car, take a vacation, and more! Best of all, you can lock portions of your line at a low fixed rate anytime and leave the rest for later.
*Annual percentage rate for loans between $100,000 and $500,000. Call for terms and rates for balances under $100,000. Limited time offer. Loans subject to credit approval. $25,000.00 minimum “new to the line” funding for new and established lines of credit. Maximum loan amount is $500,000. Other restrictions may apply. $500 early termination fee applies if closed within 36 months. 2.74% introductory APR is fixed for 12 months. 10-year interest-only draw period, then 15-year fully amortized repayment period. Monthly minimum interest-only payment required. Post 12-month balances convert to the master note variable rate, which is currently 4.00% APR. No relocking. Maximum loan-to value ratio of 75%. $100,000 at 2.74% APR for 12 months has an average monthly payment of $228.33. $100,000 at 4.00% APR 12 months has an average monthly payment of $333.33. Rate is variable, subject to change, based on Prime Rate as published in the Wall Street Journal, and includes .25% rate discount for automatic payment from a UAB account. Maximum APR is 18%. $50 annual fee. Property insurance is required. See a lender for further details. Consult your tax advisor for deductibility of interest.