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Loans > Home Equity Loans 

Home Equity Loans

It’s great to watch your home’s value increase over the years. It’s even better to put that value to work for you!

 

With a Home Equity Loan or Line of Credit from MCT you can use the equity in your home to finance your goals and dreams. Use the money to upgrade your kitchen, pay for college, or consolidate debt.

 

-----------------------------------Limited Time Offer--------------------------------


Receive $100 to your savings account when you apply for your Home Equity Loan
or Line of Credit online before November 30, 2008. Enter code HSDONL.***

---------------------------------------------------------------------------------------------

 

Home Equity Fixed Loan

Equity Flex Loan  

  • Terms:  5, 10, and 15 year
  • Payment frequencies: monthly, bi-weekly, and semi-monthly
  • Payment methods: payroll repaid, auto transfer, or coupon
  • Closing cost options
  • Interest may be tax deductible**
Rates        Calculators        Apply Now

 

 

Home Equity Line of Credit 

Establish your line of credit, then borrow money as you need it—up to your available credit limit.  MCT offers three different kinds of lines of credit to fit your unique needs.

 

Equity Options HELOC — Intro Rate Option 

  • 4.99% APR* introductory rate for the first 6 months, as low as Prime minus 0.50% thereafter
  • Credit limits up to $200,000
  • Up to 75% LTV
  • Interest may be tax deductible**

Rates        Calculators        Apply Now

 

 

Equity Options HELOC — No Closing Costs Option†

  • Rates as low as Prime minus 0.50%
  • Credit limits up to $200,000
  • Up to 75% LTV
  • $25,000 minimum initial advance required
  • Interest may be tax deductible**

Rates        Calculators        Apply Now

 

 

Equity Preferred HELOC

  • 4.99% APR* introductory rate for the first 6 months, as low as Prime minus 0.75% thereafter
  • Credit Limits up to $200,000
  • Up to 75% LTV
  • $100,000 minimum initial advance required
  • Interest may be tax deductible**

Rates        Calculators        Apply Now

 

 

  * Annual Percentage Rate. HELOC rates are indexed to the Prime Rate as quoted by the Wall Street Journal as of two days prior to the beginning of the month. The Prime Rate was 4.50% as of October 29, 2008. Rates are based on applicant’s credit. Actual rate may vary. Minimum rate of 4.99%. Maximum rate of 18%. Homeowner’s insurance is required.

 **Consult your tax advisor.

***$100 incentive will be deposited into the member’s share savings account within 30 business days upon HE loan or line of credit financing. Offer is exclusive for online applications submitted before November 30, 2008. Applicant must type in promo code HSDONL on the online application to qualify for the offer. Existing MCT HE loans and lines of credit are ineligible. 

†Accounts closed within the first two years will be required to reimburse the Credit Union the amount of closing cost paid.


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