Home Equity

MidUSA Credit Union Home Equity Line of Credit and Home Equity Loan

Whether you need a loan for debt consolidation, home repairs, a new car, college tuition or a wedding, MidUSA Credit Union can help with a low fixed-rate Home Equity Loan or low variable-rate Home Equity Line of Credit that will save you money!

Using the equity in your home is a smart way to borrow. You have the advantages of a lower rate than a personal loan, and the interest may be 100% tax deductible.*

To obtain a Home Equity Loan or Home Equity Line of Credit, the first thing you need to determine is how much equity you have in your home. Using the chart below, estimate your available equity, maximum loan-to-value of 95%.**

Current Market Value of your home: $_______________
Minus any remaining balance on your first mortgage: $_______________
Your approximate available home equity**: $_______________

 

MidUSA Credit Union Home Equity Line of Credit (HELOC)

Borrow up to 95% of your home’s value, less what is owed with the variable-rate MidUSA CU Home Equity Line of Credit.  Available to qualified members, rates are as low as the prime rate plus .5%*. Certain restrictions may apply.

Whatever your needs, you’ll benefit from a competitive variable rate and great service. You’ll also enjoy easy access to your available funds through free convenience checks and easy transfers through MidUSA CU Online Banking. Borrow funds as needed over a 10-year draw period and repay it over a total of 15 years.

See full disclosures for details.

 

MidUSA Credit Union Home Equity Loan

A fixed-rate MidUSA CU Home Equity Loan** allows qualified members to finance up to 95% of your home’s value, less what is owed. Borrow a fixed amount and repay it over a period of time, up to 15 years. You can also make payments quickly and easily through the MidUSA CU Payroll Deduction service.

See full MidUSA disclosures.

 

* HELOCs: The Annual Percentage Rate (APR) is a variable rate based upon the current Prime Rate as listed in the Wall Street Journal. The minimum APR that can be applied is 4% and the maximum APR is 18%. Annual Inactivity Fee of $50 applies. Fees and closing costs may apply. Consult your tax advisor regarding the deductibility of interest. Certain restrictions may apply. Speak with a MidUSA CU associate for details.
** Home Equity Loans: The Annual Percentage Rate (APR) is subject to change without notice. Fees and closing costs may apply and will vary based on loan-to-value.  Consult your tax advisor regarding the deductibility of interest. Certain restrictions may apply. Speak with a MidUSA CU Associate for details.