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Home Equity Line of Credit

  • Credit line you have access to for up to 15 years.
  • Draw and repay funds similar to the way you use a credit card.
  • Amounts available 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 recurring expenses like tuition payments or as an emergency fund to repair that unexpected leaky roof.

Home Equity Line of Credit Rates

Rates as of:  
Minimum Loan Amount is $5,000 APR*
(as low as)
Loan to Value Monthly Payment**
(per $1,000 borrowed)
Introductory Rate
Fixed Rate:
for 12 Months, followed by a variable rate as shown below.
2.00%Up to 90%$6.44
Standard Rate, Post-Introductory Rate
Variable Rate:
Prime minus 0.25%
4.00%Up to 80%$7.40
Variable Rate:
Prime plus 0.75%
5.00%81% — 90%$7.91
Variable Rate:
Prime plus 1.25%
5.50%91% — 95%$8.17

*APR = Annual Percentage Rate. While this page is updated regularly, rates are subject to change. Monthly payment example above is per $1,000 borrowed, with no additional advances or rate increases. Minimum monthly payment equals $100. The standard, post-introductory APR will be a fully indexed, variable rate based on Prime plus or minus a margin based on your loan-to-value ratio at account opening. Prime Rate is obtained from the Wall Street Journal and is currently 4.25%, in effect since 6/15/17 . The minimum standard APR that can apply is 3.25% and the maximum APR that can apply is your standard rate plus 6%. The maximum APR in Maryland is 18%. Your standard rate is variable and may adjust on a quarterly basis. Subject to credit approval and verification of collateral. Adequate property and flood insurance is required, if applicable. MECU membership required. MECU will pay the initial closing costs. 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.

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