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! Apply for a Home Equity Line of Credit.
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.
- 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!