Home Equity Loans


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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 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
  • 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).




* 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 cap rate is 12.49%. Maximum combined loan to value (CLTV) of 80% up to $500,000. Home Equity line available on primary California residence only. Subject to terms of membership. Equal opportunity lender.


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