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Home Equity Line of Credit

If you're a homeowner, you work hard to build your equity… so MCCU offers a Home Equity Line of Credit to make your equity work for you! What kind of "household chores" can your equity loan accomplish? Well… financing home improvements to increase your home's value, refinancing high-cost debt to lower your monthly payments, making tuition payments for your children, and lots more!

Home Equity Line of Credit (HELOC)

This line of credit loan is a practical choice that offers many flexible features:

  • LOW fixed 1.99% 6-Month Intro Rate1
  • Competitive Variable Rates- tied to the Prime Rate index
  • Borrow as much as $500,000
  • Primary California residence only
  • NO Upfront Fees!
  • No Application Fee & No Annual Fee
  • No finance charges until funds are advanced! Arrange your pre-approved HELOC, and then take loan advances when and if you need funds.
  • $30,000 minimum draw required
  • Easy Access to Funds - via equity checks, transfers, and online banking.
  • Protection against rising interest rates- Many equity lines have ceiling rates of 18% or more. At MCCU, your ceiling rate is only 6% above the opening rate . This means that, if interest starts to rise significantly, you won't be stuck with outlandish rates!
  • Rate cannot go .50% below your initial rate
  • No prepayment penalty
  • Possible tax advantages (Ask your tax advisor).


The MCCU Home Equity Line of Credit (HELOC) is an adjustable rate loan. The introductory discounted rate of 1.99% APR is fixed for the first 6 months (180 days) after which the rate converts to the then current Prime Rate (the Index) plus your Margin and is then variable and subject to change. The current 5.49% APR is accurate as of 11/1/2019 is subject to change, and is our best rate based on creditworthiness, credit score, and maximum combined loan-to-value (CLTV) of 80%. It is a variable rate of Prime +.74%, based on the Prime Rate as published in the Money Rates table of the Wall Street Journal. The quoted rate is based on 740 or higher FICO Credit Score. The maximum APR is 11.49%. The HELOC term is 25 years (10-year draw period). Minimum credit limit is $30,000; Maximum $500,000. Property Insurance and a lien are required on the subject property. MCCU membership required. Fees range from $1,000 to $2,500, based on amount borrowed. Fees are waived with minimum $30,000 draw and if HELOC remains open for a minimum of 36 months, otherwise it will be required to pay fees at time of loan payoff. Consult your tax advisor regarding deductibility of interest.

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