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Home Equity Line of Credit

Access to money when you need it.

A Home Equity Line of Credit (HELOC) from MCCU is the affordable way for you to tap into your home's equity for debt consolidation, to fund a new kitchen or home remodel, pay for tuition, and more!

Home Equity Line of Credit Term Annual Percentage Rate Max. Borrow Amount
Up to 80% combined loan-to-value (LTV) 25 years
(10 year draw, 15 year repayment)

Introductory Rate of 3.99% APR fixed for 6 Months

thereafter variable rate starts at 8.74%1 

(WSJ Prime + .74% margin) 

  • No application fees
  • Intro rates as low as 3.99% APR1 fixed for 6 Months and as low as 8.74% APR1 variable thereafter.
  • Low, interest-only payments for the 10 year draw period
  • Easy access to funds
  • Interest may be tax-deductible (consult with your tax advisor)

 start application process


The MCCU Home Equity Line of Credit (HELOC) is an adjustable rate loan based on current Prime Rate as published in the Money Rates table of the Wall Street Journal (the Index) plus your Margin. The introductory discounted annual percentage rate (APR) is fixed for the first 6 months (180 days) after which the rate converts to the then current Prime Rate as published in the Money Rates table of the Wall Street Journal (the Index) plus your Margin and is then variable and subject to change.  The current variable rate starts at 8.74% APR and is accurate as of 5/1/2023, subject to change anytime. The quoted rates are based on 720 or higher FICO Credit Score. The annual percentage rate cannot increase by more than six percentage points (6%) above the initial rate and cannot decrease by more than one half of one percentage point (.50) below the initial rate.  The HELOC term is 25 years (10-year draw period). After the draw period ends, the outstanding balance must be paid over a 15-year repayment period. Minimum credit limit is $30,000. Property Insurance and a lien are required on the subject property. 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. Rates, terms, and fees are subject to change without notice. MCCU membership required.

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