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Heroes Home Improvement Loan
Give Your Home an Upgrade Without Breaking the Bank.
MCU’s Heroes Home Improvement Loan is an inclusive fixed-rate loan designed to help low to moderate-income homeowners make necessary repairs, upgrades, and renovations—everything you need to make your house a more comfortable home.

Today's Rates
(1) APR = Annual Percentage Rate (OPEN TO READ MORE)
Heroes Home Improvement Loan Disclosures:
1. Own the property as their primary residence.
HELOC Disclosures:
The current variable APRs as of September 2023 range from 8.75% - 12.75%. 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 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. 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. The 6.875% introductory rate and closing costs waiver offer is available until June 30, 2024.
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 4%.
HELOCs are secured by a mortgage on your primary residence. Co-ops and investment properties 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 July 26, 2023 is 8.50%. The annual percentage rate may be higher based on the 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 PDF.
Invest in Your Home and Your Future.
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.
Flexible Loan Terms
You can choose the term that works best for your budget. Whether you're looking to pay off your loan faster or reduce your monthly payments with a , we have options to fit your needs.
Up to $50,000 in Funds
Borrowers can access anywhere from $5000–$50,000 in funds to tackle any home improvement project, big or small. From repairing a leaky roof to remodeling your kitchen, our loan can help make your home improvement dreams a reality.
Enjoy Fixed Interest Rates
Lock in your interest rate and discover the peace of mind that comes with knowing that your monthly payments won't change over the life of your loan, regardless of market fluctuations—so you can plan your budget and manage your finances more effectively.
Additional Loan Details & Qualifications
Members must own and occupy the home as their primary residence as well as pre-qualifying for the loan based on FFIEC census tract and income guidelines. Please keep in mind that you still must qualify for the loan through other standard eligibility such as credit score, debt to income ratio, lien position and ownership of property. For additional information, please visit our rates page.

No Matter Where You Are in Life, We’re Right There with You.
At MCU, we believe that a credit union should be a lifelong source of financial education and support—from planning for college to saving for retirement and everything in between.
That’s why we have specialized recommendations for products and services designed to help you meet your goals (both short-term and down the road), based on your changing needs and priorities.



Lending Products Built for the Heroes of NYC
Whether you’re ready to purchase a vehicle, need cash for an unexpected expense, or something else—we’re here to help. MCU offers the lending services you need to achieve your goals.
