Home Equity Line of Credit

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Tackle your to-do list with a HELOC

Looking for some financial flexibility? A MECU Credit Union Home Equity Line of Credit is the smart choice for tapping the equity in your Baltimore, Maryland home to fund home improvements, consolidate high interest rate debt or pay for education expenses.
No minimum draw
Easy application with quick decisions

Take full advantage of your Baltimore home's value. 

Your efforts to pay down your mortgage and improve your home's value can really pay off. A MECU Credit Union HELOC 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.  

  • 5.99% 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
Banking with MECU Credit Union in Maryland means belonging to a local financial institution that invests in the Baltimore community and offers competitive rates on home equity loans and other home lending products.
1/* APR = Annual Percentage Rate. While this page is updated regularly, rates are subject to change. Minimum monthly payment equals $100. Introductory rate will be fixed for 12 months. 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 8.50%, in effect since 07/27/2023. 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%. The standard, post introductory 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 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.

What you should know about Home Equity Lines of Credit