Refresh Your House

Refresh your house with a Home Equity Loan from ME/CU

  • Rates as low as 5.25% APR
  • No closing Fees

OFFER:  5 year 2nd Mortgage Home Equity Loan.  Rates as low as 5.25% APR.

OFFER:  7 year 2nd Mortgage Home Equity Loan.  Rates as low as 5.50% APR.

OFFER: 10 year 2nd Mortgage Home Equity Loan or 5 year Home Equity Line of Credit (HELOC) with a 10 year repayment term.  Rates as low as 5.75% APR.


APR=Annual Percentage Rate.  All Offers have a fixed rate. For Home Equity Loans assuming a $5,000 balance at 5.25% APR for 5 years your payment would be $94.93. The HELOC is revolving and has a draw period of 5 years and a payment of 1% of the outstanding balance and a repayment period of 10 years at the end of the draw period.  During the repayment period of ten (10) years, assuming a $5,000 balance at 5.75% APR your payment would be $54.88.  The rate established at consummation is the maximum rate for these Offers.   HELOCs with loan balances at the maturity of the draw period would have a balloon payment due which will convert to a closed end 10 year term for the remaining balance.  Offers begin June 3, 2019, and may end at any time without notice.  Offers and rates are subject to approval and are subject to change without notice.  Offer rates are valid for all loans approved prior to MECU closing the Offers.  Approval and rates are based on an evaluation of the applicant’s credit and credit score at the time of application as well as the Credit Union’s general underwriting guidelines.  All Offers have rates based on the loan not exceeding 95% loan to value (LTV).  Eligible Offers require a minimum of at least $5,000 in new money and have a maximum borrowing amount of $50,000.  Right of Rescission may apply to any Offer. All Offers have a $200 non-refundable application fee due at the time of application.  All closing costs are waived for the Offers unless the borrower elects to upgrade a service or product. The borrower is responsible for real estate taxes and insurance on the property.   Interest may be tax deductible (consult your tax advisor).  All Offers exclude rental/investment property and home purchases.  Other home loan products, rates and terms are available at the credit union’s standard rates and fees.  Other restrictions or conditions may apply.  NMLS# 519899

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