Build More With Your Equity

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* APR = Annual Percentage Rate. The introductory rate is 6.250 APR for 12 months with a maximum 80% Combined Loan-to-Value (CLTV). Applicants must have a minimum credit score of 620. An immediate draw of $25,000 will be required at closing. The initial rate will be in effect for the first year your credit line is open. If you have an introductory rate, for the 12-month period immediately following the Date of Agreement, the ANNUAL PERCENTAGE RATE that will apply to your account will be 6.250%* or 6.750% if you elect to have MCU pay your mortgage taxes. Subsequently, your account will be subject to the Variable Rate provisions described herein. The initial Annual Percentage Rate is discounted; it is not based on the index and margin used for later adjustments. Once the 12 month introductory rate expires, the APR will adjust based on your qualified index and margin. 

** APR = Annual Percentage Rate. The introductory rate is 5.99% for 2nd lien position loans with APR for 12 months with a minimum loan amount of $100,000 and maximum 75% Combined Loan-to-Value (CLTV). Minimum FICO Score is 720 with a required initial draw depending on the approved loan amount. The initial draws are as follows: 

1) For a $100,000 loan requires a minimum draw of $25,000.
2) Loan amount between $100,000.01 - $250,000 requires a minimum draw of $50,000.
3) Loan amount between $250,000.01 - $500,000 requires a minimum draw of $100,000.

*** APR = Annual Percentage Rate. The introductory rate is 5.49% for 1st lien position loans with APR for 12 months with a minimum loan amount of $100,000 and maximum 75% Combined Loan-to-Value (CLTV). Minimum FICO Score is 720 with a required initial draw depending on the approved loan amount. The initial draws are as follows: 

1) For a $100,000 loan requires a minimum draw of $25,000.
2) Loan amount between $100,000.01 - $250,000 requires a minimum draw of $50,000.
3) Loan amount between $250,000.01 - $500,000 requires a minimum draw of $100,000.

The initial rate will be in effect for the first year your credit line is open. MCU cannot pay your mortgage taxes for this special promotion. Subsequently, your account will be subject to the Variable Rate provisions described herein. The initial Annual Percentage Rate is discounted; it is not based on the index and margin used for later adjustments. Special promotion rate is available for a limited time. Once the 12 month introductory rate expires, the APR will adjust based on your qualified index and margin. 

The current variable APRs range from 6.75% - 10.75%. The floor APR is 3.00%. HELOC closing costs are waived if, at closing, you take a minimum advance of $25,000 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. 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 .500% on their introductory rate and fully indexed rate for the term of the loan. The 6.875% introductory rate and closing costs waiver offer is available for a limited time.

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 Current Prime Rate is 6.75%. 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.

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* APR = Annual Percentage Rate. 

Above APRs are based on loan amounts of $100,000. The APR is fixed for the loan term. Applicants must have a minimum credit score of 620 and estimated payment amount and repayment periods are referenced on the above rate tables. 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.

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*APR = Annual Percentage Rate.

Above APRs are based on loan amounts of $50,000. The APR is fixed for the loan term. Applicants must have a minimum credit score of 620 and estimated payment amount and repayment periods are referenced on the above rate tables. The minimum amount that can be borrowed is $5,000 and the maximum amount is $50,000. We are offering loans that range from 1-10 years based on your comfortability and preference. There is no maximum Loan-To-Value (LTV).

THE ABOVE PAYMENT EXAMPLES DO NOT REFLECT AMOUNTS DUE/ YOUR ACTUAL MONTHLY PAYMENT OBLIGATIONS MAY BE HIGHER. THERE ARE NO CLOSING COSTS FOR THIS LOAN OTHER THAN THE COST OF AN APPRAISAL IF REQUIRED.

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. Membership is required.

Qualifications - This inclusive loan is only being offered to members who meet the following pre-qualifications:
(1) Own the property as their primary residence.
(2) Said primary residence falls within a low, moderate or middle census tract zone as scaled by the FFIEC website. 
(3) If your home falls within the low, moderate or middle census tract zones, you pre-qualify for the loan.
(4) If your home does not fall within the low, moderate or middle census tract zone mentioned in section 3, you can still pre-qualify by having a household income at or below the low to moderate scale. Please schedule an appointment with one of our Home Lending Sales Representatives to verify eligibility. 
(5) Must qualify for the loan through other standard eligibility such as credit score, debt to income ratio and lien position.