Borrow up to $20,000 without any equity in your residence. Closing costs are minimal and since this is a revolving line of credit it can be used over and over again for up to ten years. Give us a call for more details or email us at mortgageloans@macfcu.org.

DETAILS

• Access funds easily
• Attractive interest rates
• Low closing costs
• Use it as you need it
• 3 - 10 business day turnaround time
• 10-year draw period
• Competitive variable interest that’s only charged on what you use
• Interest payments may be tax-deductible *Please consult with your tax advisor.
• Pay it down and use it again without having to reapply

WHAT IS NEEDED TO APPLY

• Completed application
• Borrowers authorization
• Current mortgage statement
• Homeowners insurance information
• Current pay stub
• Two years of tax returns (if self-employed)

RESOURCES 

• HELOCs - What You Should Know
• HELOC Pre-Disclosure
• Approved Housing Counselors/ CFPB