Looking for some financial flexibility? A MECU Home Equity Line of Credit is the smart choice for tapping the equity in your home to fund home improvements, consolidate high-rate debt or pay for education expenses.
Tackle your to-do list with a Home Equity Line of Credit
Take full advantage of your home's value.
Your efforts to pay down your mortgage and improve your home's value can really pay off. A Home Equity Line of Credit can give you convenient access to money at a low interest rate. Once your application is approved, you can access your credit line to cover any type of cost.
- 1.99% fixed APR1 for 12-months then as low as Prime minus 0.25%1
- Credit line available 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 80% of the equity of your home
** MECU 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.
Handbook on Adjustable Rate Mortgage