Home Equity Loans -
Finance up to $150,000!

If you're a homeowner, you work hard to build your equity… so MCCU offers home loan choices 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!

You can choose from:

Home Equity Line of Credit (HELOC) - This revolving, variable-rate loan is a practical choice that offers many flexible features:

• Competitive Rates- tied to the Prime Rate index
• Borrow as much as $150,000 up to 70% of appraised value
• 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.
• No Minimum Draw
• Easy Access to Funds - via equity checks, transfers, and e-branch.
• 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).

* APR=Annual Percentage Rate. Variable rate based on the Prime Rate as published in the Money Rates table of the Wall Street Journal. Quoted rate based on 725 or higher FICO Credit Score. Actual interest rate offered may be higher depending on credit score and underwriting factors. Maximum combined loan to value (CLTV) of 70% and Prime minus .01% up to $150,000 limit. Maximum rate is 6% higher than your initial rate and will not go .50% below your initial rate. Home Equity line available on primary California residence only. Subject to terms of membership. Other rates and terms available.

*** Low initial setup fee is waived with an initial advance of $30,000 or greater.

Call (818) 993-6328 to apply!

Click for affordable Loan Rates!

2nd Trust Deed - This affordable home loan allows you to tap the equity in your home for a FIXED term, making budget planning easier. Ideal for specific borrowing needs (i.e., summer vacation, home entertainment center, new patio or spa).

2nd Trust Deeds offer:

• Competitive FIXED Rates
  
• NO POINTS!
  
• No Pre-Payment Penalties!
  
• No Application Fee & No Annual Fee
  
• Repay in up to 15 years.
  
• Borrow 70% of current appraised value, minus 1st mortgage balance, up to $150,000!
  
• Possible tax advantages (Ask your tax advisor).

** APR (Annual Percentage Rate) is a fixed rate and is our best rate based on credit worthiness, credit score and dollar amount of loan. Quoted rate based on 725 or higher FICO Credit Score. Rates, terms and conditions are subject to change. Other rates and terms available.

Call (818) 993-6328 to apply!

Click for affordable Loan Rates!