Home Equity
When you need to finance large expenses and projects, the key could be your home's equity. Our loan and line of credit options provide flexibility.
When you need to finance large expenses and projects, the key could be your home's equity. Our loan and line of credit options provide flexibility.
Choose between fixed and variable rates, depending on your plans and budget. Either way, we make the application process quick and easy.
Ideal when you want a fixed rate and know exactly how much money you need.
Payment: Fixed
Payout: Paid out in a one-time lump sum
Flexible option that allows you to access money anytime for up to 10 years and repay it over 15.
APR: as low as 8.00% APR†
Payment: Variable
Payout: Available as you need it, similar to a credit cards
All the benefits of a HELOC and more; including lower, interest-only payments.
APR: as low as 8.00% APR§
Payment: Variable
Payout: Available as you need it, similar to a credit cards
intentionally empty table head | APR | Payment | Payout | intentionally empty table head |
---|---|---|---|---|
Home Equity LoanIdeal when you want a fixed rate and know exactly how much money you need. |
as low as 6.25% APR* |
Fixed | Paid out in a one-time lump sum | |
Home Equity Line of Credit (HELOC)Flexible option that allows you to access money anytime for up to 10 years and repay it over 15. |
as low as 8.00% APR† |
Variable | Available as you need it, similar to a credit card | |
Interest-Only Home Equity Line of Credit
All the benefits of a HELOC and more; including lower, interest-only payments.
|
Variable | Available as you need it, similar to a credit card |
†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.
§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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