About MCU

Unlock The Equity In Your Home

Home Equity Loans

Now is the time to unlock the equity in your home. Use a home equity loan from MCU for major expenses like home improvements, debt consolidation, education costs and medical expenses.

MCU offers two types of home equity loans to meet your borrowing needs:

 Fixed Home Equity Loan

Rates As Low As 2.25% | 2.252% APR* for 15 Years!

With a Fixed Home Equity loan:

✔   Borrow a fixed amount and receive the funds in a lump sum payment.
✔   Enjoy easy and predictable payments.
✔   Don’t worry about rising interest rates or varying monthly payments.
Apply Today

 Home Equity Line of Credit (HELOC)

Special Offer! 1.99%** Fixed APR for First 6 Months and No Closing Costs!

A variable, revolving Home Equity Line of Credit (HELOC) gives you the ability to borrow as much or as little as you need during your draw period. Like a credit card, the amount available to borrow is replenished as you pay your outstanding balance.

✔   Line of Credit up to $500,000 and for 10 years.
✔   Up to a 20-year repayment term.
✔   1 – 4 family “Owner Occupied” Residential Properties and Condos only.
✔   Financing available in New York and New Jersey.
Apply Today
Looking to Refinance Your Current Mortgage?

MCU has a variety of mortgage refinance options to meet your goals and budget.

✔   Lower your monthly payment.
✔   Reduce your interest rate.
✔   Pay off your mortgage sooner.
✔   Convert to a fixed-rate mortgage.
✔   Pay for a major purchase or expense.
View the Latest Mortgage Rates   Apply Today
 

*APR = Annual Percentage Rate.

Home Equity accounts are secured by a mortgage on your primary residence. Property insurance is required. Flood insurance may be required if the property is in a flood zone. Rates may be higher based on applicant’s creditworthiness. Rates and terms are subject to change without notice. Certain restrictions may apply.

THE ABOVE PAYMENT EXAMPLES DO NOT REFLECT AMOUNTS DUE FOR TAXES AND INSURANCE. THEREFORE, YOUR ACTUAL PAYMENT OBLIGATIONS WILL BE HIGHER.

Above APRs are based on loan amounts of $100,000. The APR is fixed for the loan term. The minimum amount that can be borrowed is $25,000 and the maximum amount is $500,000.

10 and 15 year terms: For the advertised rate, the maximum Loan-To-Value (LTV) is 75% with a 1st Lien position required. Other rates and terms available to a maximum Combined Loan-To-Value (CLTV) 80%.

Closing costs are waived if you keep your loan open for at least three years, otherwise you will be required to reimburse MCU for certain fees paid to third parties. These fees can be as low as $135 for a $25,000 loan and as high as $1,000 for a $250,000 loan. The closing costs offer expires on March 31, 2021. Other rates and terms available. Membership is required.

** APR = Annual Percentage Rate. The introductory rate is 1.99% APR for 6 months with a maximum 80% Combined Loan-to-Value (CLTV). The floor APR is 3.00%. HELOC closing costs are waived if, at closing, you take a minimum advance of $25,000 on line amounts below $250,000 and you keep your line of credit open for at least three years, otherwise you will be required to reimburse MCU for certain fees paid to third parties. These fees can be as low as $135 for a $25,000 HELOC and as high as $1,000 for a $250,000 HELOC. This does not include the Recording Tax for New York residents. This 1.99% rate and closing costs offer is available until March 31, 2021.

THE ANNUAL PERCENTAGE RATE MAY VARY AND IS EQUAL TO THE HIGHEST PRIME RATE PUBLISHED IN THE WALL STREET JOURNAL ON OR BEFORE THE LAST DAY OF THE PRECEDING MONTHLY BILLING PERIOD PLUS A MARGIN BETWEEN 0% AND 1%.

HELOCs are secured by a mortgage on your primary residence. Co-ops are not accepted. Property insurance is required. Flood insurance may be required if the property is in a flood zone. Certain restrictions may apply. Membership is required.

The Prime Rate as of March 15, 2020 is 3.25%. Rates may be higher based on applicant’s creditworthiness. The maximum Annual Percentage Rate that may be imposed is 6% above the initial interest rate at closing. Rates and terms are subject to change without notice. Other terms and conditions apply. View full disclosure.

Equal Housing Opportunity

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Routing Number: 226078036

  • ncua Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.