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Home Improvement

Home Maintenance Tips

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Spring is the time for home improvements and repairs. According to some experts, home repairs usually cost approximately $1,700 each year*.  That is a large amount of money, and without a plan, that amount could be devastating in the future.  Here are some reasons why you should make home improvements.

Home Maintenance = Home Equity

Buying a home is a great investment.  You buy a home, and most likely you eventually sell that home.  Putting a certain sum of money into your home each year improves the value, but also makes it more livable as time goes on.

“Be Prepared”

Disasters will happen whether it’s a leaking roof, water drainage, plumbing problems or termite damage etc.  How can you be prepared?  The rule of thumb for home improvement is putting away 1% of your home’s value each year.  For example, if your home is worth $175,000, you would put away $1,750 each year or $145 a month for home maintenance**. By doing so, you can plan accordingly for those incidentals that so often come with owning a home.

Home Upgrades

There are many ways you can improve and increase the value of your home. Home additions can make a space more functional while adding value. Another great spot in the house that offers the best return on investment is the Kitchen. Upgrading appliances, installing fresh tile, and upgrading your counter tops are some great ways to improve the value.

Funding Home Maintenance

Obviously home improvements are essential and cost money.  Planning a budget for home maintenance is not as difficult as it sounds.  In fact, there are many ways to create a budget like obtaining a home equity loan, taking out from a personal budget, or making a home maintenance savings plan every month.  Your home is a great investment, so take care of that investment, and make financial plans to make it better!

If you have any questions, or want to look into a Home Equity Loan, click HERE to visit our website for details.

Sources
*http://balancepro.net/education/publications/fixhomerepairmaintenanceplan.html
**http://go.hfcu.org/blog/bid/138553/Should-I-use-home-equity-for-maintenance-and-upkeep-of-my-house

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President's Message March 2016

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The credit union continues to celebrate 60 years of serving this great community! This year-long celebration will give members and the credit union many opportunities to strengthen the community and take advantage of special offers and services provided by the credit union. We welcome your participation and urge you to take advantage of the special offers, rates, and service opportunities that are part of our celebration.

  • Support the School of your Choice

Throughout the year, you can earn money and also support a local school of your choice – just by transferring an existing loan to UCCU!

When you transfer a loan from somewhere else to the credit union, you will not only benefit from lower loan rates and lower monthly payments – but UCCU will pay you ½% of the loan balance in cash up to $125. But that’s not all. The credit union will also send the school of your choice the same amount (1/2/% of the loan balance up to $125) in your name!  So, by moving a loan to UCCU, you’ll most likely end up with better loan rates and terms, some cash in your pocket, and the credit union will donate the same amount to a school of your choice in your name!

  • March Loan Sale Going on Now

You’ll find low special rates on auto loans and on home equity loans as part of our 60th Anniversary celebration. Whether its time to replace your car or whether you’re planning some needed home improvements or other summer projects, UCCU’s low loan rates will help you succeed.  There will be additional special offers throughout the year.

  • Your “First Choice” Financial Partner

As always, we thank you for your trust and your membership. Our sole focus, as a not-for-profit financial institution, is to provide you and your family with the services and information that will help you set- and reach- your financial goals. One valuable resource to help you make smart financial decisions is UCCURelax.com. This educational site is a great guide to help save you money and frustration in purchasing a home or car. Check it out and see how it can give you confidence in making some of life’s biggest purchases.

We love serving you and look forward to another 60 years of serving this community!

Jeff's signature

Jeff Sermon
President/CEO
Utah Community Credit Union

 

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The 5.99% Personal Loan

 

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Are you looking for the best personal loan but having trouble finding the best rates?  Well look no further!  To celebrate our 60 year anniversary, we want to show our appreciation by offering an incredible deal for a personal loan.  Trying to find a low fixed annual percentage rate (APR) can be stressful, overwhelming, and difficult.  We are offering a 5.99% APR personal loan for our members!

Personal Loan Benefits:

  • Unsecured loan (no collateral required)
  • Low rate
  • Online application
  • No application fee

Personal Loan Uses:

  • Consolidate debt
  • Home repairs
  • Home improvements
  • Auto repairs
  • Medical expenses
  • Vacations
  • Elective surgery
  • Taxes
  • And much more….

So don’t wait any longer and get the loan you’ve waiting for!  Fix that home that needs  repairing, pay for those over due medical expenses, or get assistance for your taxes this year.  Whatever you  need, talk to one of our experts today or visit us online for your next personal loan!

Click here to visit our Personal Loan Page  or Call us at 801.223.8188 

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Get Ready for Spring With a Home Equity Loan

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Spring is just around the corner, which means warmer weather, a different wardrobe, and home improvement.  Are you planning on a spring filled with a list of projects for your home?  A home equity loan is a perfect place to start! UCCU’s home equity loan experts are here to assist you with all of your needs.  There are no fees to worry about, and home equity lines of credit always have fixed-rates.  UCCU’s home equity professionals are trained and ready to assist and answer any questions you have about your home equity loans.

Home Equity Line of Credit

A line of credit is often used to cover expenses that you may incur over a period of time; used similar to a credit card. UCCU has fixed rate home equity lines of credit for 5, 7, & 10 year terms and even a Flex Pay option where you can pay the interest only for 7 years.  Variable APR can be as low as 3.74%-4.24%.

Home Equity Loans and Mini Mortgages 

Home Equity Loans and our Mini Mortgages are often used for one-time expenses. You receive the funds in a lump sum (as opposed to a line of credit that is revolving). Also a great solution if you’re looking to pay off your home in the near future. UCCU has low fixed rates and excellent terms.  Mini Mortgages can range between 5-10 years for the 1st mortgage.  Home Equity Loan or a 2nd mortgage will be up to 10 years.  These fixed APR options are also as low as 3.24%-4.25%.

So even if you are you looking to repair or remodel your home, to pay for your child’s education, or need assistance to pay off high interest credit card debit, our home equity loans are a perfect way to help your upcoming financial projects.

So put your home to work and receive financial assistance from a home equity loan.  Applying for your home equity is simple and can be done in as little as 20 minutes. Complete the form online and we will create customized quotes based on your loan details.

For any questions or if you are ready to apply please call one of our home equity professionals today at 801-223-7650 or email us at homeequity@uccu.com.  You can also visit one of our local branches and speak to a professional in person!

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Lower Your Home Equity Payment Today

Consolidate your debt into one loan with one low payment.

With UCCU’s new Low Payment Calculation, you can consolidate your debt into one loan and one really low payment! No-fee home equity lines of credit–with Low Payment Calculation–available right now at UCCU. Only 1.99% Fixed APR for nine months, then 3.74% Variable APR thereafter.

For more information visit uccu.com or call us at 801.223.7650

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Preparing Your Home for Winter

Fall is the best time to prepare your home for the coming Winter months. By following these helpful steps your home will be in tip top shape.

Restock on the essentials –  Don’t wait until  the first snowfall before you stock up on ice melt or salt. By being prepared with these items you can make sure your winter is as simple as possible. It’s also a good idea to have sand or kitty litter in your trunk in the snowy season. It can be used as a way to create traction if you get stuck in a snow drift.

Clean your chimney and fireplace – before you decide to use your fireplace for the first time this season, make sure you have a chimney sweep clean out your fireplace and make sure it’s fit for use. This will help prevent house fires and also carbon monoxide from leaking into your home.

Check your insulation, caulking,  and weatherstrips – The easiest way to make sure your home is comfortable and energy efficient is to make sure every crack, window, and exterior door is prepped and ready to keep out the snow and cold. Typically if the space between the sliding and window or door frames is more than the width of a nickel, you need to apply new silicone caulking. Silicone is the best type of caulking because it doesn’t warp or shrink with changes in weather. You can also add weather stripping around doors to help seal in the warmth.

Turn off exterior faucets – turning off exterior faucets keeps water from being trapped in your home’s pipe system and makes sure you avoid re-plumbing.

Check your gutters – The easiest way to cause damage is to forget to clean your gutters before the winter season hits. If there are leaves or other obstructions it will cause snow and water to build up and possibly damage your house. By cleaning out the gutters the water and snow can run off properly.

Divert water away from the house –  Add extensions to downspouts to help avoid damage to your home. By adding length away from your foundation at least 4-5 feet you can rest easy and avoid costly repairs.

Check your Heating System –  Beat the  repair rush by hiring a technician to inspect your furnace or heat pump before the Winter season begins. By making sure your system is working properly and efficiently you can be sure your heater will make it through the cold months.

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Finding the Right Home – Utah Home Buzz

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Utah Home Buzz in partnership with UCCU is your one-stop-shop for buying and selling properties all across the state. Their skilled Real Estate experts specialize in helping buyers and sellers in your area. The website contains ALL listings from ALL Real Estate Agents in one easy, convenient location.

Looking for your next home? With search options that allow you to filter your results by location, list date, and price range, you can find the perfect home for your needs. Looking to sell your current home? Utilize the free automated home evaluation to discover the market value of your home, get alerts about new listings in your area, and keep you aware of changes in your neighborhood. Simply fill out a quick form and get your results today!

At UCCU we want you to feel confident in all your home buying and selling needs. Visit our Mortgage Loan Center today. UCCU Inspiring Smart Decisions.

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Market Rates on the Rise

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Housing rates continue to rise due to a number of economic changes. The market is beginning to recover from the housing crash of 2007 and homeowners are starting to see a silver lining.

According to Quicken Loans VP Bill Banfield, the increases in housing prices will have a positive effect on mortgage holders. “While the increase in home prices is slowing, homeowners have still gained a significant amount of equity in the last year,” he said.

That is why there is no better time than now to get a 10-year fixed Home Equity Line of Credit. At UCCU we want you to feel taken care of. With a Home Equity Line of Credit you can get the money you need to cover important expenses and make your dream home a reality.

Used like a credit card, UCCU has fixed rate home equity lines of credit for 5, 7, & 10 year terms and even a Flex Pay option where you can pay the interest only for 7 years.

Call one of our home equity specialists today at 801.223.7650 or apply online at uccu.com!

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Rates Spur Refinances as Buying Season Begins

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In early June, rates for 30-year fixed home loans were at their lowest in seven months, according to Freddie Mac. Rates had been on the decline for five weeks straight before hitting this year’s lowest yet.

The window of opportunity was certainly welcome for on-the-fence refinancers who previously opted out, found difficulties qualifying, or were unable to recoup significant closing costs. Refinances accounted for 50 percent of total home loan applications in mid-May, up 1 percent from a month earlier, according to the Mortgage Bankers Association.

Interest rates unexpectedly fell this year after the Federal Reserve began scaling back the stimulus that held borrowing costs near record lows since 2011.

Uptick in Prices and Purchases

Lower rates may have also prompted homebuyers to commit to properties, as signed contracts to buy existing homes increased 0.4 percent in April, according to an early June report from the National Association of REALTORS® (NAR). Despite this increase, the group’s expectation was for at least a 2 percent sequential gain. The NAR’s chief economist, Lawrence Yun, said, “Higher inventory levels are giving buyers more choices, and a slight decline in mortgage interest rates this spring is raising prospective homebuyers’ confidence. An uptrend in closed sales is expected, although some months will encounter a modest setback.”

Home prices, and subsequently, values, are also on the rise, as buyers in March paid 12.4 percent more for homes compared with a year earlier, according to the S&P/Case-Shiller index of 20 cities. Prices have been increasing due to high buyer demand and less available inventory, though it’s important to note that home prices are rising at more modest levels this year when compared to last year’s big gains.

Early June numbers from CoreLogic’s Home Price Index (HPI) also reported that home prices, including distressed sales, increased 2.1 percent in April compared to March, and were up 10.5 percent compared to April 2013.

While rough weather was blamed for very slow sales at the beginning of the year, closed sales in April increased slightly—the first month-to-month rise of the year.

The Bottom Line

Home loan rates remain at some of their lowest levels in months. If you have any questions about your personal situation or would like to inquire about housing and home loans, please don’t hesitate to visit UCCU.com.

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Parade of Homes 2014

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It’s Parade Time! 

Utah Valley’s Parade of Homes June 6-21

You won’t want to miss this year’s lineup of homes – and UCCU is proud to finance two of those homes! Stop by either location (listed below) anytime during the Parade of Homes to speak with an experienced mortgage loan officer – they will even have some free appraisal coupons* for anyone ready to purchase a new home or refinance their existing home. Plus they will also be giving away a 5 day/4 night vacation to Disneyland! See you at the Parade.

Highland Home: 10107 N. Riverside Ln.

Lehi Home: 1301 Autumn Ridge Court

For more information about the Parade of Homes, please visit uvparade.com. For more information about getting financing for your construction project, please visit uccu.com.

 

*Limited time offer. Free appraisal coupon (up to $395) must be presented at time of loan application. Coupon value redeemed upon closing the loan with UCCU – free appraisal will not be applied if loan does not close and fund.  No cash value.  Not valid on Home Equity Loan products.  Coupon expires September 30, 2014.
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