Home Equity Loans

 

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 $500,000 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.
• $30,000 minimum draw required
• 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).

 

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!

Get an application

 

* APR=Annual Percentage Rate. Variable rate based on minimum 740 FICO Score and the Prime Rate plus .74% as published in the Money Rates table of the Wall Street Journal. Rate cannot go .50% below your initial rate. Actual interest rate offered may be higher depending on credit score and underwriting factors. Maximum combined loan to value (CLTV) of 70% up to $500,000 limit. Home Equity line available on primary California residence only. Subject to terms of membership. Equal opportunity lender.

 

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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 terms from 5 to 15 years with low rates!

Borrow 70% of current appraised value, minus 1st mortgage balance, up to $500,000!

Possible tax advantages (Ask your tax advisor).

 

Call (818) 993-6328 to apply!

Click for affordable Loan Rates!

Get an application

 

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