Horizon Credit Union Utah Routing Number: Everything You Need to Know

As a borrower, it's essential to understand the details of your credit union loan. Horizon Credit Union, in particular, offers a Home Equity Line of Credit (HELOC) that allows borrowers to convert portions of their variable-rate loan to a fixed-rate loan at a transaction fee of $75 per occurrence. In this article, we'll delve into the ins and outs of Horizon Credit Union's HELOC program, including its Utah routing number.

Locking in Your Loan Amount

One of the benefits of Horizon Credit Union's HELOC is that borrowers can lock up to three different amounts at any one time. This flexibility allows you to manage your debt and make informed decisions about your loan. Additionally, the minimum amount required to be converted to a fixed rate is $5,000.

Variable vs. Fixed Rates

Horizon Credit Union's HELOC features a variable interest rate that applies after the first six months of the loan term. The rate is based on the Wall Street Journal Prime Rate plus a margin and adjusted quarterly. The current rates range from 8.50% to 18.00% APR, depending on your creditworthiness.

Introductory Rate

The introductory rate is valid for six months from the date the loan is booked. After this period, the variable interest rate will apply. It's essential to keep in mind that membership fees and other terms may apply.

Closing Costs and Fees

Closing costs are an essential part of any home equity loan. Horizon Credit Union will pay most closing costs associated with a Home Equity 1st Lien, including credit reports, flood determinations, recording, and reconveyance. However, borrowers are responsible for paying the title fee, automated property valuation, and appraisal fees if required.

Early Termination Fees

Should you decide to close your loan within two years from origination, you'll be obligated to pay the full amount of the total closing cost for the loan. Additionally, early termination fees may apply according to your agreement with Horizon Credit Union.

Utah Routing Number

To make payments or transfer funds, you'll need to use Horizon Credit Union's Utah routing number, which is .

In conclusion, Horizon Credit Union's Home Equity Line of Credit offers flexibility and competitive rates. Borrowers should carefully review the terms and conditions of their loan agreement to ensure they understand the fees, rates, and closing costs involved. For more information or to apply for a HELOC, call Horizon Credit Union at 800.852.5316.

* Horizon Credit Union's HELOC allows borrowers to lock up to three different amounts at any one time

* The minimum amount required to be converted to a fixed rate is $5,000

* Variable interest rates apply after the first six months of the loan term and are based on the Wall Street Journal Prime Rate plus a margin

* Introductory rates are valid for six months from the date the loan is booked

* Closing costs are an essential part of any home equity loan and may vary depending on your location and loan terms

* Utah routing number:

Horizon credit union utah routing number