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A bank representative greeting a customer at a desk
A bank representative greeting a customer at a desk

Utah Home Equity Line of Credit (HELOC)

Whether you’re renovating in Salt Lake City, remodeling in Logan, paying bills or taking a dream vacation, you can use your home’s equity to finance what’s next.

A no annual fee HELOC from WaFd Bank is often more affordable than using credit cards or other loans. You’ll also receive a discount on your interest rate when you make automatic payments from your WaFd checking account. And we’ll even pay closing costs for our existing WaFd home loan clients on lines of credit up to $250,000.

HELOCs are available for primary, second home and investment properties, including jumbo HELOCs up to $700,000. Apply online, where you can securely upload your documents and receive status updates in our secure portal. Get started with a versatile HELOC today.

See Utah HELOC Rates arrow-right

Find a Utah Loan Officer

Utah Home Equity Loan (HELOC) Calculator

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0Your Estimated HELOC Monthly Payment
Your estimated interest-only mortgage payment for the interest-only period doesn't account for the principal payments you'll make later when the loan begins amortizing. Contact one of our friendly loan officers for more information and accurate payment information.
  • $0
    Interest Only
  • $2,689
    Taxes
  • $3,780
    Insurance
  • NO ANNUAL FEE
  • Discount of 0.250% off your interest rate for automatic monthly payment from your WaFd Checking Account
  • Interest rate and APR (Annual Percentage Rate) are variable based on the Wall Street Journal Prime Rate plus a margin subject to credit approval of your credit history, loan to value, occupancy and EZ Pay requirements.
  • Monthly interest only payments do not include property taxes and insurance.
  • HELOCs available for owner occupied homes, 2nd homes & investment properties.
  • Closing costs are paid only for primary homes, not for second, vacation, or investment properties.*
  • Fees Range: $354 - $7,579. Your HELOC fees are included in the disclosure provided at loan application and again at closing.
  • Home Equity Loan Calculator payments display monthly interest only payments assuming the outstanding balance displayed in the Equity Credit Line
  • HELOCs feature a 25 year term as follows:
    • 10 year draw period to borrow on your line of credit whenever you need it
    • Any outstanding loan balance after 10 year draw period will be amortized (principal and interest payments) over 15 years
  • Consult your tax advisor.
  • The rate will never exceed 17.99 % APR.
  • Property Insurance is required.
  • Investment properties require WaFd to be in first lien position.
  • Loans are subject to credit approval. Restrictions and limitations may apply.
  • This calculator is for educational purposes only, and may not represent WaFd Bank's lending program requirements.
  • Fees for our HELOC vary depending on the HELOC loan amount and property location.
  • NO ANNUAL FEE
  • Discount of 0.250% off your interest rate for automatic monthly payment from your WaFd Checking Account
  • Interest rate and APR (Annual Percentage Rate) are variable based on the Wall Street Journal Prime Rate plus a margin subject to credit approval of your credit history, loan to value, occupancy and EZ Pay requirements.
  • Monthly interest only payments do not include property taxes and insurance.
  • Consult your tax advisor.
  • The rate will never exceed 17.99 % APR.
  • HELOCs available for owner occupied homes, 2nd homes & investment properties.
  • Closing costs are paid only for primary homes, not for second, vacation, or investment properties.*
  • Fees Range: $354 - $7,579. Your HELOC fees are included in the disclosure provided at loan application and again at closing.
  • Home Equity Loan Calculator payments display monthly interest only payments assuming the outstanding balance displayed in the Equity Credit Line
  • HELOCs feature a 25 year term as follows:
    • 10 year draw period to borrow on your line of credit whenever you need it
    • Any outstanding loan balance after 10 year draw period will be amortized (principal and interest payments) over 15 years
  • Property Insurance is required.
  • Investment properties require WaFd to be in first lien position.
  • Loans are subject to credit approval. Restrictions and limitations may apply.
  • This calculator is for educational purposes only, and may not represent WaFd Bank’s lending program requirements.
  • Fees for our HELOC vary depending on the HELOC loan amount and property location.

Use a HELOC for Home Improvements

Some Benefits to a Home Equity Line of Credit

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You pay interest only on the amount you have borrowed
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Rate discounts available for auto pay from your WaFd checking account.
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NO annual renewal fees
How a Utah HELOC works
10 Year Interest-Only Draw Period, then 15 Year Payoff or Repayment Period, Refinance to a fixed interest and principal payment loan
10 Year Interest-Only Draw Period, then 15 Year Payoff or Repayment Period, Refinance to a fixed interest and principal payment loan
Save Up to $600 on Closing Costs With a Checking Account From WaFd Bank*
Benefits of working with WaFd Bank
We keep your loan! We don't sell it to Wall Street or Fannie Mae.
We have competitive mortgage rates and will be with you every step.
You can quickly and securely apply online in minutes.
We keep your loan! We don't sell it to Wall Street or Fannie Mae.
We have competitive mortgage rates and will be with you every step.
You can quickly and securely apply online in minutes.

Your local Utah loan officer can help you get started

Find a Utah Loan Officer

Frequently Asked Questions

See more FAQs

HELOC interest payments may be tax deductible based on specific income qualifications and whether you occupy the home as a primary residence, 2nd home, or use it as an investment property. Please consult your tax professional for your specific situation.

The amount of equity needed for a HELOC will depend on a number of factors such as whether you have an existing mortgage that will or will not be paid off when you apply for your HELOC and whether you have any other existing liens on your home. In general, lenders use a calculation called a loan to value (“LTV”) that allows a borrower to use 80% of the value of their property for a HELOC and any other existing mortgages that you owe on your home. The LTV will also vary according to your individual credit and finances and whether you occupy the subject property as your primary residence, 2nd home or use it as an investment property. Contact your local WaFd loan officer to get specific details for your individual situation.

A HELOC can be a 2nd mortgage if you have an existing 1st mortgage that will not be paid off by your HELOC. Contact your local WaFd loan officer to see if your financing request qualifies for our no cost HELOC.

* To qualify for the maximum $600 discount, before closing documents are prepared you must (1) have or open the WaFd checking account, (2) register for EZ-Pay from the new checking account, and (3) sign up for direct deposit of at least one form of a monthly recurring source of income.