Home Equity Loan Special
- Rate as low as 2.19%
- No hidden charges
- Quick Decisions
- Personal Service
- Automatic Transfers
- Use the loan for anything
- *Fee waiver for limited time (see terms and conditions below)
3 easy ways to apply
- Apply Online
- Apply by phone through our loan department 800-834-0082 ext. 1250
- Apply at any branch location
Questions? Call 800-834-0082 or contact us by email
Three Main Reasons Home Equity Loan can work for you
1. Invest home equity funds in your kids
- Using home equity loans for education is another popular choice, with the skyrocketing costs of post-secondary education and higher incomes that don’t qualify for special grants and government-backed loans.
- Home equity loans used to pay for education are investments of sorts too. An educated son or daughter is more likely to be financially independent sooner and building his or her own wealth rather than draining yours.
- Unfortunately, college for your kids comes just about that time when you are nearing retirement and may consider home equity loans to offset your reduced income. Don’t over look special educational loans, tax writeoffs and scholarships to meet your children’s educational needs.
2. Putting your home equity money back
- Almost as common as debt consolidations are home equity loans used for home improvements. With carefully planned and professionally completed work, homeowners effectively put home equity loans back into the home by adding more square footage, by bringing the home up to current building codes and by upgrading to contemporary home design and features.
- Problems here stem not so much from using home equity loans for home improvements, but the decisions you make about the improvements.
- The best improvements from home equity loans increase the fair market value of your house. Remodeled rooms, notably kitchens and bathrooms, add the most value. Additions are fine too as long as you don’t over improve. Additions should blend in both with your home’s existing style and the design of the homes in your neighborhood. Interior painting, carpeting and the like probably won’t add much value, but those cosmetic touches will improve the salability of your home
3. Debt consolidation
- Eliminating higher-rate debt, such as that on multiple credit cards. Home equity loans can pay them all off leaving you with one monthly bill that’s likely smaller than the others combined.
- It’s also a good chance the interest rate will be half what you were paying on just one credit card. The rate on home equity loans is cheaper because, unlike credit cards, the debt is secured by your home.
- Additional debt-cost savings are available because with the consolidation you’ll likely pay off your debt sooner. Along the way you’ll get to deduct the interest, up to the legal limits allowed for home equity loans.
** APR- annual percentage rate. APR is subject to change without notice. Minimum amount is $7,500 borrowed at 2.19% APR as low as and subjects. Your rate will be determined by your credit history as well as other factors relating to the type of loan request. M-C Federal Credit Union membership is required. New money only – refinance is not qualified. *Fees waived include: Property search, flood search, and recording fee. Fee waive excludes appraisal fee. Rates, terms, conditions, and availability are subject to change or withdrawal at any time and without notice. Nothing herein is or should be interpreted as an offer or commitment to lend. Loans are subject to credit and property approval. Other conditions and restrictions may apply. Property insurance is required. Membership eligibility is required – see field of membership on www.mcfcu.org click join us. All Bloomsburg and Berwick residents are eligible for membership. An optional automatic payment from your M-C FCU deposit account is available upon request