Take Out A Loan
15-Year HELOC (Interest Only)
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 95% 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 or interest only.
- Monthly payment based on 15-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.**
|APR||Min. Loan Amt||Max. Loan Amt|
1Rates available as low as Prime (currently 3.75% ) for owner-occupied properties with terms up to 240 months. Additional rates and terms are available; rates‚ terms and conditions may vary based on creditworthiness and qualifications and are subject to change. Subject to credit and property approval. Maximum loan amounts up to $500‚000 but will be based on the amount of equity available‚ up to 95% of the appraised value of the property. Closing costs vary and will depend on the location of the property and the amount of the loan. Property insurance is‚ and flood insurance may be‚ required. Consult your tax advisor regarding the deductibility of interest. Rates and APRs are subject to change without notice.