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.
Make your home work for you.
Choose between fixed and variable rates, depending on your plans and budget. Either way, we make the application process quick and easy.
Home Equity Loan
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
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.
APR: as low as 8.50% APR†
Payment: Variable
Payout: Available as you need it, similar to a credit cards
Interest-Only Home Equity Line of Credit (IO-HELOC)
All the benefits of a HELOC and more; including lower, interest-only payments.
APR: as low as 8.50% 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. Summer rate special through August 31. |
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 8.50% 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 |
*Special Promotional Rate. Eligible on fixed rate home equity term loans applied for during the promotional period from 6/3/2024 through 8/31/2024. Subject to credit approval. Annual Percentage Rate (APR) may be higher, based on term of loan, credit score, collateral, and loan to value. Ask an MSGCU Representative for details.
†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.
Enjoy these perks
- Apply Online
- Make Payments Anytime
- Interest May Be Tax Deductible
