Take Out A Loan
15-yr Line of Credit (HELOC)
A MAFCU home equity line of credit is a ready source of cash you can access simply by writing a check. This flexible financing solution offers:
- Low Variable Rates.*
- Credit lines based on 80% of the appraised value of your home minus the first mortgage.
- Interest-Only option.
- Minimum line of credit of $10,000; maximum line of $500,000.
- Free checks for convenient access to your line of credit.
- No initial draw requirement.
- Payments based on principal and interest.
- Monthly payment based on 15- or 20-year terms.
- Potential tax advantages.*
- Convenient 24-hour access to loan information through our ATMs, Free Online Banking and Free Telephone Banking services.
- No closing costs - we pay them.**
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1* Rates are subject to change at any time. Your actual rate may vary (be higher), based on evaluation of applicant credit and terms. 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. Variable rates are indexed to the highest Prime Rate as 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.