Use the equity in your home to consolidate debt, make home improvements, or take that dream vacation! There are several ways to utilize your home’s value, and the right home equity option depends on your situation and needs.
*$99 closing costs offer excludes the cost of a full appraisal, if needed. Minimum qualifying credit line of $5,000 and a loan-to-value equal to or lower than 85%. Other terms, restrictions and fees may apply for loans with a loan-to-value greater than 85%. An appraisal is required for loans with a loan-to-value greater than 85%. The range of costs for the appraisal is between $450.00 to $750.00, and the applicant is responsible for this cost. hoME1st Equity Line of Credit is an adjustable rate product and may adjust quarterly. Refinance of existing M1CCU loans not eligible. Subject to membership, credit and underwriting guidelines. Max. Annual Percentage Rate (APR) is 18%. The Index rate is the Prime Rate as published in the Wall Street Journal on the date, 60 days prior to any scheduled rate adjustment, plus a margin with a floor rate of 4.250%. The current fully indexed rate is 4.250% APR for a loan-to-value up to 85% & 4.750%APR for a loan-to-value up to 100% with a qualifying credit score. There are no annual fees: however, there may be an early termination charge applied if the line of credit is closed within 36 months of opening. Property Insurance required. Federally insured by NCUA, Equal Opportunity Lender, NMLS#461085