In our most recent Community Reinvestment Act (CRA) performance evaluation, administered by the FDIC in June 2004, Union Bank scored an "Outstanding" overall rating, and was cited for excellent performance in residential lending to borrowers of all income levels, especially low-and moderate-income residents. Click on the Personal Lending Team button to the left to contact us today!

Special Programs
We participate in several affordable housing programs, and offer a number of state and federally guaranteed programs which provide an easier route to home ownership for low-and moderate-income residents.  Union Bank is involved with the Vermont Housing Finance Agency (VHFA) in a number of programs geared to Vermonters with modest incomes. Under these programs, the Bank can offer up to 100% financing with a Rural Development guarantee, as well as expanded debt-to-income ratios and down payment assistance for eligible applicants. We recently partnered with the New Hampshire Housing Finance Authority (NHHFA) to offer similar affordable programs to customers in New Hampshire.

Fixed Rate Mortgage
Whether you're looking to purchase or refinance, the most popular type of home loan is a fixed rate mortgage. Available in terms to suit your personal needs, fixed rate mortgages offer assurance that your interest rate and payment will remain constant for the life of the loan. Fixed rate mortgages are available to applicants who wish to purchase a primary residence, a vacation home or a 1-4 family investment property.

Adjustable Rate Mortgage
An adjustable rate mortgage (ARM) offers the flexibility of a lower initial monthly payment, allowing some applicants to obtain a larger mortgage than they would otherwise qualify for. Adjustable rate mortgages offer flexible terms and generally feature an initial fixed rate period. Once the fixed rate period expires, the rate may increase or decrease depending on index, margins and caps. (Please consult with one of our helpful lenders for details.) Adjustable rate  mortgages may be used to purchase a primary residence, a vacation home or a 1-4 family investment property.

B.U.I.L.D. Loan Program
Union Bank's popular and innovative B.U.I.L.D. (Borrowers Using Interim Loan Dollars) program is designed to finance new home construction, renovations or additions to an existing home or small business. A B.U.I.L.D. loan allows you to "pay as you go" and can help you organize payments to contractors and service providers, keeping your project streamlined and up-to-date.  B.U.I.L.D. rates are always competitive and there are no points. Interest is paid monthly based on the outstanding balance from the prior month. Reasonable terms are available to accommodate your construction project. When the project is completed, the outstanding loan balance may be refinanced through a variety of Union Bank programs.

Home Equity Loan
A home equity loan is useful for home improvement projects, paying for your children's education or purchasing a vehicle. Borrow a specific amount based on the equity available in your home for a fixed period of time. Budgeting is simplified with a fixed interest rate and fixed monthly payment. The interest you pay may be tax deductible. Please consult your tax advisor to see if you qualify.

Home Equity Line Of Credit
A variable rate home equity line of credit allows you the flexibility to tap into the equity you've earned in your home when you need to. By simply writing a check, you can access your credit line when you want—for whatever you want; whether you're remodeling your kitchen, adding a deck or splurging for that vacation you've been putting off for so long. Flexible rates and terms are available. The interest you pay may be tax deductible - please consult your tax advisor to see if you qualify.

Adjustable Rate Land Loan
Union Bank's adjustable rate land loan program is designed for people looking to purchase a building lot for future use as a primary residence or vacation home. The program features a low introductory fixed rate for the first year, followed by a rate adjusted annually, which is tied to the one year treasury bill index. The land must have the necessary state and local permits to allow a home to be built on the lot. (Applicants seeking a loan to be used to develop raw land would not be eligible for this program.)