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Home Equity Line of Credit

Access the funds you need to pay off high-rate debt and save money.

If you have equity in your home, consider consolidating your high-rate credit cards and other debt into a single, lower-interest payment with a Home Equity Line of Credit (HELOC). It can reduce your total debt and help you pay it off faster.  

You can also use the HELOC to fund a new kitchen or home remodel, pay for tuition, and more. 

Our Home Equity Line of Credit features: 

LOW fixed 1.99% 6-Month Intro Rate1

  • No upfront, application or annual fees
  • Low, interest-only payments for the 10 year draw period
  • Borrow up to $500,000
  • Easy access to funds 
  • Interest may be tax-deductible (consult with your tax advisor).

 VIEW HELOC RATES  start application process


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 3.99% APR is accurate as of 4/1/2020 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 9.99%. 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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