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Home Equity/Home Improvement
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Whether you're a Montgomery County homeowner looking to tap into the equity you've built up over the years or a homeowner who has no equity in your home at all, Mid-Atlantic Federal Credit Union (MAFCU) offers the low-rate loan or line of credit that works for you ... and your wallet.
With a MAFCU home equity loan or line of credit you can tap the equity in your home for just about any purpose: to make home improvements, consolidate debt, pay for tuition, or even take a vacation. A MAFCU home improvement loan is just that-a loan for making home improvements-but one that requires no equity at all.
Find the MAFCU home equity or improvement loan that's right for you.
|Name||APR||Minimum Loan Amount||Maximum Loan Amount|
|15-Year HELOC (Interest Only)||3.500% 1||$10,000.00||$500,000.00|
|15-Year HELOC (Principal & Int.)||3.500% 1||$10,000.00||$500,000.00|
|6 to 20-yr Home Equity Loans||5.500%||$10,000.00||$500,000.00|
1Rates are subject to change at any time and are inclusive of "auto pay". Loans without "auto pay" are higher by .125%. Loan must remain outstanding for at least 36 months or closing cost paid by MAFCU will be added on to the loan. Payment Options: Principal and Interest or Interest Only. Homeowners' Insurance and Flood Insurance, if applicable, is required. Your Annual Percentage Rate may vary with the market based on the Prime Rate, the minimum is Prime +0.0%. The range in margin is 0.00% to 2.00% depending on credit score. Maximum is 18%. The index is the Prime Rate and is published in the Wall Street Journal "money rates" table on the 25th day of each calendar month, or if The Wall Street Journal is not published that day, the highest Prime Rate published in The Wall Street Journal "money rates" table immediately before the 25th day of the calendar month. The Prime Rate is a pricing index and is not the lowest or best interest rate available.