Home Equity Loans

Contact us today for more information on our Home Equity Loans!

Looking to purchase that big ticket item? The funds you need may be right in your own back yard — or closer! Many of our satisfied members have used home equity loans for the following:

  • College tuition
  • Automobile purchase
  • Home improvement
  • Vacation
  • Pay off higher rate loans

Members Advantage Community Credit Union offers two kinds of Home Equity Loans:

Home Equity Line of Credit

Put the equity in your home to work for you with a revolving line of credit.

  • Borrow up to 80% of the equity in your home minus first mortgage balance
    For example: If a home is valued at $200,000 and the remaining mortgage balance is $100,000, we would lend up to $60,000.  ($200,000 x 80% = $160,000 - $100,000 = $60,000)
  • May be tax deductible*
  • Convenience checks provided to access your line
  • Variable rates
  • Minimum loan amount $5,000/Max $200,000
  • Low closing costs

Fixed Rate Home Equity Loan

For people who want the security of a fixed rate and a one time disbursement of funds.

  • Borrow up to 80% of the equity in your home minus first mortgage balance
    For example: If a home is valued at $200,000 and the remaining mortgage balance is $100,000, we would lend up to $60,000.  ($200,000 x 80% = $160,000 - $100,000 = $60,000)
  • Rate is fixed for the life of the loan
  • 5, 10 and 15 year terms
  • Minimum loan amount $5,000/Max $200,000
  • May be tax deductible*
  • Low closing costs

*Check with your tax advisor

Loan Rates Loan Calculator

Please contact us for more information on our Home Equity Loans!