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Home Equity Loans

  • Single lump-sum payout.
  • Fixed interest rate and payments.
  • Variety of repayment terms up to 15 years.
  • Loan amounts from $5,000 up to 90% of the value of your home. (Appraised value minus the balance due on your home equity and any outstanding liens.)
  • Perfect for a one-time expense like consolidating higher-rate bills or remodeling the basement.

Home Equity Loan Rates

Rates as of:  
Minimum Loan Amount is $5,000 Fixed APR*
(as low as)
Repayment Terms Monthly Payment*
(per $10,000 borrowed)
Up to 80% Loan To Value
No Closing Costs4.49%60 Months$186.38
No Closing Costs4.99%120 Months$106.02
No Closing Costs5.49%180 Months$81.66
81% — 90% Loan To Value
No Closing Costs5.24%60 Months$189.81
No Closing Costs5.74%120 Months$109.72
No Closing Costs6.24%180 Months$85.69

*APR = Annual Percentage Rate. While this page is updated regularly, rates are subject to change. Your actual APR may be higher based on your loan amount, repayment term, collateral, credit history and ability to repay. MECU will pay the initial closing costs. If the loan 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 loan. Subject to credit approval and verification of collateral. Adequate property and flood insurance is required, if appropriate. MECU membership required.

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