Imagine what your home can do for you

Borrow what you need to pay for home improvements, education, debt consolidation, vacation, or any other spending plans you may have.

Home Equity Loan

A Home Equity Loan (HELoan) allows you to borrow money in one lump sum payment with fixed interest rates and a set repayment period.

  • Borrow up to 80% of your home’s value
  • Fixed interest rates
  • Terms from 0 – 20 years
  • Low closing costs

Home Equity Line of Credit

A Home Equity Line of Credit (HELOC) is a line of credit available whenever you need it, similar to a credit card but with better rates. Since it is a revolving credit line you can use it, pay it off, and use it again.

  • Borrow up to 80% of your home’s value
  • Access to funds anytime, anywhere
  • Payments change based on borrowed balance
  • Low, adjustable interest rates

We also give you the option to move a portion of your HELOC into a fixed rate Home Equity Loan.**

*APR = Annual Percentage Rate. The introductory rate is fixed and will remain the same for the first 3 months from the loan closing date. The interest rate is based on borrowing up to 80% of the value of your home. Upon expiration of the introductory rate, your rate will automatically revert to the Prime Rate, as published in the Wall Street Journal on the last business day of the month, minus 0.25%. This is a variable rate loan – your rate may change over the life of the loan. Hazard insurance is required. Flood insurance may be required subject to flood certification. The maximum APR is 18%.

**At anytime you may convert your line of credit balance into a fixed rate home equity loan. You must leave at least a $10,000 line of credit open to avoid any costs of converting. Fees may apply if your entire line of credit is closed and discharged. Your rate upon switching to a fixed rate will be set at MMFCU’s current rate on a home equity loan with a similar term.