Time for a Summer Refresh?
Utilize the Equity in Your Home!
- Finance Home Repairs
- Take a Dream Vacation
- Consolidate High Interest Debt
Ask Us How to Get Started Today!
MC Federal Home Equity Loans
Unlock the Power of Your Home's Equity!
We’re committed to helping you leverage the value of your home to meet your financial goals. With our Home Equity Loans, you can tap into the equity of your home for a variety of purposes while enjoying the personalized service and competitive rates that set us apart.
Why Choose a Home Equity Loan with MC Federal?
Revitalize Your Home
Dreaming of home improvements? Whether it’s updating your kitchen, adding more space, or modernizing your home, a Home Equity Loan can fund renovations that not only enhance your living space but also increase your property’s value. From major remodels to essential updates, investing in your home can yield significant benefits.
Consolidate Debt
Struggling with high-interest debt? Use a Home Equity Loan to consolidate credit card and other high-rate loans into one manageable monthly payment. Enjoy potentially lower interest rates and simplify your finances while saving on interest costs.
Fund Major Expenses
Have a big purchase or project in mind? Whether it’s a family vacation, a major medical expense, or a significant life event, a Home Equity Loan provides the funds you need with the flexibility to use them as you see fit.
Emergency Funds
Unexpected expenses can arise at any time. A Home Equity Loan can offer a financial safety net, giving you access to funds when you need them most, and providing peace of mind in uncertain situations.
Invest in Your Child’s Future
Education is a priceless investment. With the rising costs of college, a Home Equity Loan can help bridge the gap where other financial aid may fall short. An educated child is more likely to achieve financial independence sooner, and this investment can set them on a path to success.
Apply Today!
Ready to take control of your finances with a Home Equity Loan? Applying is easy and straightforward.
For more information, visit our branches or call us at 800-834-0082 to speak with a knowledgeable member of our team.
Benefits of MC Federal Home Equity Loans
- Flexible Terms: Customize your loan terms to fit your unique financial situation and goals.
- Local Expertise: Receive personalized service from our knowledgeable team at any of our convenient branch locations.
- Competitive Rates: Take advantage of our attractive interest rates and save more over the life of your loan.
| Home Equity Loan-Principal Residence | APR* |
|---|---|
| Fixed Term | 80% Loan to Value |
| 36 months | 4.50% |
| 60 months | 5.75% |
| 84 months | 6.25% |
| 120 months | 6.50% |
| 180 months | 6.75% |
| 240 months | 7.25% |
| *APR = Annual Percentage Rate. LTV=Loan to Value. The APR is current as of 11/01/2024. Your rate on home equity loan may vary from the rates above and will be determined by your credit history, term, and property value. Credit is subject to approval, not all applicants will qualify. Repayment example: For a $50,000.00 loan for a term of 84 months with a 6.25% APR, the monthly payment will be $736.59. A minimum advance of $10,000.00 is required. All Credit Union loan programs, rates, terms, and conditions are subject to change at any time without notice. Other fees may apply. Flood and /or property hazard insurance may be required. MC Federal Credit Union membership is required. For current rates, fees, and other cost information, please contact MC Federal Credit Union at (800) 834-0082. | |
Unlock the Power of Your Home's Equity!
There are many advantages of being a home owner!
The equity in your home may allow you to:
- 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 an investment. 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 write-offs and scholarships to meet your children’s educational needs.
- With carefully planned and professionally completed work, homeowners put home equity loans back into their homes by adding more square footage, bringing the home up to current building codes, and upgrading to a contemporary home design.
- To make the loan the most effective at increasing property value, reliable contractors and well-planned renovations are a necessity.
- The best improvements from home equity loans increase the fair market value of your home. Remodeled rooms, particularly kitchens and bathrooms, add the most value. Additions are fine also, as long as you don’t over build. Additions should blend with both 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 increase the appeal of your home.
- Eliminate higher-rate debt, like the debt accrued on credit cards. Home equity loans can pay them all off leaving you with one monthly bill that’s probably smaller than the others combined.
- There’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 be able to pay off your debt sooner. Along the way you may be able to deduct the interest, up to the legal limits allowed for home equity loans.
