Your home is the key to being
Get 1.99% fixed APR1 for 12 months then as low as Prime minus 0.25%1.
Cash in and 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
Looking to cover expenses under $5,000?
A Personal Line of Credit might be right for you.
1 APR = Annual Percentage Rate. 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 3.25%, in effect since 3/16/2020. 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.
2 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.