Cover those college expenses with our Home Equity Line of Credit
Take advantage of low rates and flexible repayment terms:Once your application is approved, you can access your credit line to cover back-to-college costs.
- 1.99% fixed APR1 for 12 months then as low as Prime minus 0.25%1
- Amounts available from $5,000 up to 80% of the equity of your home
- Credit line available for up to 15 years
- Draw and repay funds similar to the way you use a credit card
2MECU will pay the initial closing costs on “Standard” Home Equity Lines of Credit. If the line is paid off and closed within 12 months of original note date, closing costs must be reimbursed to MECU by the borrower. Closing costs vary and generally range around $850 to $1,000 on a $20,000 line of credit.