Products & Services

Home Equity Loans

MCU offers two Home Equity products that allow you to use the equity or value of your home as collateral. Enjoy the flexibility of a Fixed Home Equity Loan or a variable Home Equity Line of Credit (HELOC) to help you achieve goals like home renovations, college tuition payments, debt consolidation and other large purchases.

Use the "Check App Status" button to check on the status of your application, view messages or submit documents

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.

Features & Benefits:

  • Rates as low as Prime
  • Line of Credit up to $500,000, 30 year term with a 10 year interest only draw period
  • 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

With a low rate Fixed Home Equity Loan, you borrow an amount in a lump sum and pay it back with stable and predictable payments over the term of the loan.

Features & Benefits:

  • Fixed interest rate
  • 10,15 and 20 year fixed terms
  • Receive the amount borrowed in one lump sum
  • Borrow up to 80% of the available equity in your home up to $500,000
  • A good option for major projects and one-time expenses.

An inclusive fixed rate home improvement loan tailored to our members who reside in low to moderate census tract income areas OR have a household income within the low to moderate scale as provided by the FFIEC website. 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.

Features & Benefits:

  • Fixed interest rate
  • 1-10 year flexible loan term
  • Loan amounts between $5,000-$20,000
  • Funds must be strictly used for Home Improvements
  • Receive the amount borrowed in one lump sum
  • Financing available in New York and New Jersey

View FFIEC Guidelines

30 Year Term - 360 Payments6.540%
Home Equity Line Of Credit2.99%

Visit our Rates page for more information

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Routing Number: 226078036

NMLS #:184286

  • 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.