Home Equity Loans
Looking to Refinance? MACCU has a very attractive offer to refinance.
Refinance to a 1st lien Home Equity Loan, with a 13 year term.
Rates starting at 3.99 % for up to 60% Loan to Value for 13 years.
Rates starting at 4.49% for 60.01% Loan to Value to 80% Loan to Value for 13 years.
This is a great way to pay off your mortgage sooner, or take money out of your equity.
Contact a branch today and ask to speak with a Mortgage Loan Officer.
Put the Equity in Your Home to Work for You!
Looking to purchase that big ticket item? The funds you need may be right in your own backyard – or closer! Many of our satisfied members throughout Vermont have used home equity loans.
Do you have “Life Happens” events coming up? This loan is perfect for you!
MACCU is currently offering a Special Home Equity Line of Credit for 2.99% APR!
- College tuition
- Purchase a car
- Pay for car repairs
- Funeral expenses
- Vacation
- Pay off higher rate loans
- Home improvement
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 $10,000/Maximum $200,000
- Quick turnaround time!
Members Advantage Community Credit Union, with locations in Barre, South Burlington, Springfield, White River Junction, and Windsor, also offers Home Equity Loans:
Looking for something fixed? Try our 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/Maximum loan amount $200,000
- May be tax-deductible*
- Low closing costs
If you need more flexibility, a Home Equity Line of Credit may be a better option for you:
- 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)
- 10 Year Draw period
- Minimum loan amount $5,000/Maximum loan amount $200,000
- May be tax-deductible*
- Low closing costs
- Quick Turn around – often an appraisal isn’t required
*Check with your tax advisor.
Please contact us for more information on our Home Equity Loans or visit one of our Vermont credit union locations!