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Home Equity Lines and Loans

When opportunity calls, tapping your home's equity could be the answer,

Use your home to get a loan. Fast and easy.

A home equity line of credit or a home equity loan is an excellent way to use the value of your home to provide funds for such expenditures as home improvements, vehicle purchases, college expenses, debt consolidation or any other financial need that arises.

MECU currently offers home equity loans and lines of credit on owner-occupied properties in Arizona, California, Florida, Georgia, Illinois, Massachusetts, Michigan, New Hampshire, New York, Pennsylvania, Texas and Wisconsin.

Borrow from $5,000 to $500,000 at competitive rates, and enjoy flexibility in choosing your payment terms.

Accounts APR As Low As*  National Average Features

Home Equity Loan1
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fixed APR


 6.09% APR

Home Equity Line of Credit2
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variable APR


4.64%  variable APR
  • No annual fee
  • MECU pays all closing costs — taxes may apply in FL, GA and NY (see full disclosure)
  • Borrow from $5,000 to $500,000 
  • Up to 90% loan to value (50% – 80% LTV for Texas residents)
  • Easy repayment with automatic transfers from checking or savings
  • Competitive variable rate adjusts quarterly
  • 24/7 online account access
  • Competitive variable interest rate adjusts quarterly
  • 1/2% rate discount with Express Advantage membership
  •  Interest-only repayment option available


* APR is based on excellent credit history, and reflects a .50% discount for Express Advantage members (those with MECU checking and direct deposit) who make automatic loan payments from an MECU savings or checking account.

1 A fixed rate home equity loan: 4.99% APR based on a 5-year term. Your actual rate might be different and will be based on several factors, including creditworthiness, loan to value and term of the loan. Home equity loan payment example: A $50,000 loan with a 60-month term and a 4.99% APR is $945.28 per month.

2 For home equity lines of credit, a variable Annual Percentage Rate (APR) applies. It can adjust quarterly based on the Prime Rate as published in The Wall Street Journal 45 days prior to the rate change date. Qualified properties include owner-occupied single-family homes, condominiums, town homes and one to four unit owner-occupied dwellings in AZ, CA, FL, GA, IL, MA, MI, NH, NY, PA, TX and WI.

National average rates provided by Datatrac, an unbiased research firm that monitors rates from over 20,000 financial institutions nationwide. These rates are effective 3/8/2016.

NMLS ID: 411839

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