Turn Your Home Equity Into Opportunity.
Home Equity Line of Credit
Members First Credit Union’s Home Equity Line of Credit (HELOC) is designed to let you borrow against the equity in your home and access funds as needed. Whether you’re renovating your home, consolidating debt, or planning for major milestones, a HELOC provides flexibility, and you can access funds when you need them. Unlike traditional loans, you only pay interest on the amount you borrow, not the full line of credit.
More Flexibility, More Possibilities
- Min/Max Loan Amount: $5,000 – $350,000
- Borrow up to 95% of your home’s equity **
- No Annual Fee or Minimum Balance
- No Prepayment Penalty
- Easy Access: Your funds are available through mobile or online banking or in-branch.
- Personalized Support: Guidance from a trusted, local team every step of the way.
**95% equity is based on a first lien on a primary residence. Total available credit may be lower based on type of collateral, lien status, or purpose of the loan.
| APR as low as* |
|---|
| 6.50% |
*APR = Annual Percentage Rate. All loans subject to approval. Rates, terms, and conditions are subject to change without notice. APR is based off the Wall Street Journal Prime Rate plus a margin of -0.250% - 4.000%. Margin may vary based on creditworthiness or other factors. The prime rate is a variable rate and may change multiple times during the term of the loan. The rate for the Home Equity Line of Credit will increase or decrease based on these changes but will never exceed 18% or drop below 4%. Loan fees and closing costs will vary between $450 and $1,300 based on a loan amount of $50,000. Property and credit qualifications apply. See credit union for details. |
Home Equity Fixed Loan
Our Home Equity Fixed Loans make it easy to manage life’s biggest expenses with confidence. Whether you’re planning a home renovation, consolidating debt, paying for education, or handling unexpected costs, we’ve got you covered.
- Fixed interest rate for reliable, long-term stability
- Predictable monthly payments that keep your budget on track
- Flexible terms designed to fit your goals
- Funds for what you need — renovations, debt consolidation, education, or unexpected expenses
| Terms | Interest Rate | APR as low as* | Monthly Payment** |
|---|---|---|---|
| 10 Year Fixed | 6.750% | 6.894% | $574.17 |
| 15 Year Fixed | 6.875% | 6.979% | $446.00 |
*APR = Annual Percentage Rate. Rates featured are listed “as low as” and could be different based on creditworthiness, qualifications and collateral conditions. All rates are subject to change. **Monthly payment based on a $50,000 loan amount. | |||
Ready to make your home’s equity work for you? Schedule an appointment or contact us to get started!
