Home Equity Loan

Makeover your house this summer with our low payment Michigan First Home Equity Loan. You've worked hard for your home, now let your home work hard for you! Home equity loans are paid in installments like a typical mortgage or car loan:  you get cash up front, and pay your loan back over time.

Benefits:

• Low fixed rate
• Fixed monthly payments
• Borrow up to 100% of your home's equity
• Terms up to 180 months
• Low closing costs mean more savings to you
• Interest paid is usually tax-deductible¹

YOU BORROW         YOU PAY
$10,000                     as low as $83 per month²
$21,000                     as low as $174 per month²
$35,000                     as low as $290 per month²
$48,000                     as low as $399 per month²

Apply For Your Loan Now!

Home Equity Line of Credit

Borrow money from your house and use it to increase its value. Or use the money for other needs, such as tuition, vacations, paying off high-interest credit cards and more. The loan works like a credit card; you're given a credit limit line to borrow against. When you pay down your debt, you free up additional credit. Plus, you get easy access to your line of credit by either transferring funds to your checking account online, by phone, or by writing checks.

Benefits:

• Have extra money available whenever you need it
• Low variable rates
• Borrow up to 100% of your home’s equity
• Seven-year time period to access credit
• Low closing costs mean more savings to you
• No hidden fees, no points and no annual fees
• 24-hour access to your funds through free Online Banking 

Apply For Your Loan Now!

Interest-Only Home Equity Line of Credit

Our Interest-Only Home Equity Line of Credit allows you to make interest-only payments during the initial period of the loan. If you want to build your equity faster, you can pay down the principal at any time during the interest-only period.

Benefits:

• Variable rates ensure you can benefit from lower prime rates
• Lower monthly payment during the interest only period
• 10-year time period to access credit
• Low closing costs mean more savings to you 
• 24-hour access to your funds through free Online Banking 

Apply For Your Loan Now!

To apply, you can also visit one of our convenient locations or contact us today.  

¹Consult your tax advisor regarding deductibility.
²Payment examples are all based on a rate of 5.75% APR on a 15-year Fixed Home Equity Loan. Monthly payments are estimates only and will vary depending on final loan amount, terms, and Annual Percentage Rate. Annual Percentage Rates are based on credit score and subject to change. The better the credit, the better the rate. Restrictions apply. See Michigan First Credit Union for details. Limited time offer. All offers subject to credit approval.

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