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Flexible, convenient, ready when you need it… Home equity lines of credit are one of the smartest ways today’s consumer can borrow because they can be used for almost any purpose and in most cases the interest you pay is tax deductible. The line of credit is available to you for 15 years, and you don’t pay anything for it until you access it.

Click here to see repayment example.

Lock your rate in low and keep it low… One of the benefits a MECU home equity line of credit has over other financial institutions is that once established, your variable interest rate will never exceed 6 percentage points over the initial rate you started at. That’s a great value when compared to other institutions’ variable HELOC rates which can go up as high as over 20%.

MECU’s Home Equity Line of Credit offers a competitive initial interest rate and low rate cap, giving you the advantage of moderate fluctuations in interest rates yet providing security when rates start to climb.

MECU's Home Equity Loan offers a fixed rate with a fixed term. You have the choice of whether or not you pay closing costs. If MECU pays closing costs at time of settlement for your benefit and you voluntarily terminate the loan within 12 months after settlement. You must reimburse MECU for closing costs, which were paid on your behalf.

Save with a low introductory rate and low payments. Your MECU Home Equity Line of Credit will carry a low introductory rate for the first 6 months when you take an initial advance at settlement of $10,000 or more. After the introductory period your rate will adjust to the then current rate. And your payments will be much lower than other types of loans.

Save at tax time. Just as you deduct the interest paid on your mortgage, you can usually deduct the interest on a Home Equity Loan or Line of Credit. Ask your tax advisor how much you could save with the smartest way to borrow.

If you can dream it, a MECU Home Equity Line of Credit can help you do it. Did you know that you can use funds from a home equity line of credit in a variety of ways? Here are some you may not have thought of…


• New kitchen or bathroom
• Central air conditioning
• Swimming pool, hot tub
• Cool vacation to somewhere
• you always wanted to go
• College tuition
• Orthodontist bills for your kids’ braces
• Consolidate bills
• A new car, truck, boat or RV
• The wedding your daughter
• always dreamed of
• Invest in a long term CD
• A fish pond in your back yard


These are just a few of the many reasons to get a home equity line of credit when you refinance your mortgage. Here’s just one more… last year members who had a mortgage and home equity line at MECU got a loan interest rebate. Did you?

IT’S EASY TO APPLY THROUGH THE MECU LENDING CENTER – You can apply for your loan anytime 24-hours a day, 7 days a week by calling MECU’s Lending Center at 1-800-373-2914.

For more information, call the MECU Mortgage Department at 410-752-8313, press 2240.

* Annual Percentage Rate. The APR is based on a Loan of $50,000 with a Total Loan To Value Ratio of 80%.

Payment Example for Fixed Rate/Fixed Term Home Equity Loan:

A Loan for $50,000 at 5.50% for 15 years results in a monthly payment of $408.72, with a total of interest paid over the life of the loan of $23,542.10.
With interests rates low,
it's the ideal time to refinance your mortgage
and save money.
As an added value, MECU invites you to set up a
home equity line of credit
at the same time
and you will
•Pay no added
closing costs.
That's a $500-$1000 value.
•Get a special
introductory rate.