Are you ready for Spring?
We sure are! If you're getting ready to do some work on your home (or just looking to get out of town after dealing with all of this lovely Michigan weather) we're here to help!
For the month of March, MCCCU is offering the following:
- No application fees (a $350 - $450 value) on an MCCCU Home Equity Line of Credit1
- HELOCs are useful for borrowers who are looking for ongoing access to a line of credit. Some of the advantages of a HELOC are that you only pay for the advances that are drawn against the line of credit. This solution is great for those who are planning on making various home improvements, will be starting a remodeling project, or are looking for help to pay for college, a wedding, or vacation costs.
- No application fees (a $350 - $450 value) on an MCCCU Home Equity Closed End Loan2
- A Home Equity Closed End loan a great solution for borrowers who are looking to make a large one-time purchase. Fixed monthly payments for a set term allow you to keep your finances on track. A closed end loan is great for things like a one-time remodel, roof repair, new pool, or a debt consolidation.
- $300 credit applied toward closing costs of a first mortgage3
- A first mortgage is considered to be the purchase of a new home, or a refinance of a first lien (loan) on a property that you already own.
|Home Equity Loans|
|Effective Date: Wednesday March 20, 2019|
|Name||Rates as low as||Terms up to|
|Home Equity Closed End Loan||5.50% APR*||15 years|
|Home Equity Line of Credit||5.25% APR*||10 year draw, 15 year amortization|
|Variable rate based on prime rate plus margin|
|*APR = Annual Percentage Rate|
MCCCU NMLS# 423111
1 Offer available to loan applications completed by March 31st, 2019. Offer available to new and refinanced consumer home equity lines. Refinancing available only to loans currently held outside of MCCCU. Loan must close by April 30th, 2019. To qualify, members must take an initial advance of $1,000.
2 Offer available to loan applications completed by March 31st, 2019. Offer available to new and refinanced consumer home equity loans. Refinancing available only to loans currently held outside of MCCCU. Loan must close by April 30th, 2019.
3 Offer available to mortgage applications completed by March 31st, 2019. Loan must close by May 15th, 2019. $300 credit will be applied at the time of closing and will appear on closing documents as a credit towards closing costs.
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