Why choose an MSGCU Home Equity Line of Credit?

A Home Equity Line of Credit is more than just a loan; it’s a flexible solution for your biggest goals. From home additions to unexpected expenses, we provide the capital you need with terms that fit your budget.

  • Revolving credit: Borrow only what you need, when you need it. Pay it back, and borrow again.
  • Flexible terms: Draw up to 10 years, followed by a 15-year repayment period.
  • Easy access: Move funds instantly to your checking account via Online Banking.
  • Local advantage: Enjoy low closing costs and personalized service from a friendly Michigan-based team.

Offering a flexible interest-only option.

Maximize your monthly cash flow with interest-only (IO) payments. Our IO-HELOC is an ideal short-term solution for funding large projects while keeping your immediate monthly obligations low.

  • Lower initial payments: Pay only the interest during the draw period.
  • No annual fees: Keep more of your money working for you.
  • No minimum draw: Use exactly what you need, when you need it.

Home Equity Line of Credit (HELOC)
TypeTermAPR* as low as
Variable - 80% Loan-to-Value 10-year draw period;
15-year repayment		 6.75%
Variable - 90% Loan-to-Value 10-year draw period;
15-year repayment		 7.50%

*APR = Annual Percentage Rate. Rates may vary, based on term, credit history, collateral, and whether this loan will serve as a first or second lien. Variable rates are tied to market index (or prime rate), not to exceed 18.0% APR. Minimum initial credit advance required based on credit limit. $75 annual fee may apply and third party fees paid by MSGCU to be reimbursed up to $500 if line of credit is closed within 36 months of loan opening. Michigan properties only.

 

Interest-Only Home Equity Line of Credit (IO-HELOC)
TypeTermAPR* as low as
Variable - 80% Loan-to-Value 10-year draw period;
15-year repayment		 6.75%
Variable - 90% Loan-to-Value 10-year draw period;
15-year repayment		 7.75%

*APR = Annual Percentage Rate. Rates may vary, based on term, credit history, collateral, and whether this loan will serve as a first or second lien. Variable rates are tied to market index (or prime rate), not to exceed 18.0% APR. No initial credit advance required. No annual fee. Interest calculated on current balance only. Interest-only payments are not applied to loan principal. Third party fees paid by MSGCU to be reimbursed up to $500 if line of credit is closed within 36 months of loan opening. Michigan properties only.

 

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