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HOME EQUITY LOANS
Fixed rates as low as 7.875%

Need Cash Now? Take Advantage of Your Home’s Equity.
If you live in New York or New Jersey and are looking to consolidate debt, cover a major project or a large, one-time expense, an MCU Home Equity Loan may be a good choice for you. Unlike a HELOC, this type of loan provides you with a lump sum and fixed interest rate.
Features & Benefits
- Receive 1 single lump sum
- Fixed Rates
- Flexible 10, 15 or 20 year terms
- Borrow up to 80% of the available equity in your home—up to $500,000
- Available on properties in NY, NJ, CT & PA (Single Family Residence, 2-4 Family Residence and Condominium ONLY)
Today's Rates
APR = Annual Percentage Rate (OPEN TO READ MORE)
* APR = Annual Percentage Rate. 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. For 10, 15, and 20 year terms advertised rate, the maximum Loan-To-Value (LTV) or Combined Loan-To-Value is 80%. MCU is required to be second lien position. Any second or third lien position loans are required to be paid off prior to closing.
THE ABOVE PAYMENT EXAMPLES DO NOT REFLECT AMOUNTS DUE FOR TAXES AND INSURANCE. YOUR ACTUAL MONTHLY PAYMENT OBLIGATIONS WILL BE HIGHER.
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.
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. Closing costs paid by MCU include the initial valuation source, title report, credit report and flood zone certification. Loan applicant has the option to have their mortgage recording fees and mortgage taxes waived at closing for an additional .50% on their introductory rate and fully indexed rate for the term of the loan. Other rates and terms available. Membership is required.
What You Need to Apply
- Social Security number
- Any existing debts or support obligations (such as alimony, child support, or existing liens on your home)
- Employment and income history as well as pay stubs and employer’s contact information
- Proof of homeownership (in NY, NJ, CT & PA only), home insurance, and current mortgage statement
- An appraisal or valuation of your home will be ordered during the loan process

Check Out Other MCU Home Equity Loan Solutions and Choose What’s Best For You!
Home Equity Line of Credit (HELOC)
Choose to spend as much or as little as you need with a variable, revolving Home Equity Line of Credit (HELOC). Like a credit card, you’ll be approved for more borrowing as you make payments toward your outstanding balance.

Home Improvement Loans
The Heroes Home Improvement Loan is designed to make home improvement projects more accessible and affordable—helping homeowners transform their living spaces with flexible loan terms, low fixed interest rates, and access to up to $50,000 in funds.