Home Equity

Home equity is the difference between the appraised value of your home and the amount you still owe on your mortgage loan. You can borrow that equity to pay for things like college tuition, a kitchen remodel, or even an unexpected emergency.

If you’re a homeowner, you’re in luck—you can tap into your home’s equity to get that extra money for whatever you need.

We offer both fixed-rate loans and home equity lines of credit with:

  • Flexible terms
  • 100% loan to value
  • Quick closings
  • No closing costs*

Fixed-Rate Home Equity Loan

A home equity loan allows you to borrow a lump sum amount based on the value of the equity in your home. You will make fixed payments over the term of the loan.

  • Rates as low as 4.49% APR**
  • May be tax deductible (consult your tax advisor)
  • Good for large, expensive projects where a lump sum is necessary
  • Fixed interest rate for the term of the loan.

Home Equity Line of Credit (HELOC)

This option works more like a credit card. A home equity line of credit allows you to borrow money whenever you need it during the term instead of taking out a larger sum all at once. You can draw as little or as much as you’d like from your line of credit and make payments on the amount you’ve drawn. This could be good to have for emergencies since you don’t need to use it if you don’t want to.

  • Rates as low as 2.74% APR**
  • Good for emergencies
  • Works like a credit card
  • Flexible
  • Low variable rates
  • Fast, reliable service

Apply now!

For more information, call 800-666-8811 and choose Option 7, e-mail us realestate@memberonefcu.com or stop by one of our retail centers today!


*Member One Standard Closing costs waived except any attorney fees. If loan is paid off within two years of closing, the member must reimburse the closing fees (ranging from $280-$1,500).

**All credit union loan programs, rates, terms and conditions are subject to change at any time without notice. Approval subject to loan and property value, creditworthiness, and underwriting. Home equity lines of credit: as of 1/8/18, the current APR is 2.74% and effective for 1 yr. following consummation; thereafter, the APR will adjust quarterly based on the index plus up to 3.74%. The index is the highest prime rate published in the Money Rates column of the Wall Street Journal. The minimum APR that may apply is 3.5%. The maximum APR that may apply is 15.00%. Home equity loans: as of 1/8/18, the current APR is 4.49% and fixed for 5 yrs. OR 4.74% and fixed for 10 yrs. on owner-occupied single family detached primary residences only with a loan to property value of up to 80%. At current APR for 5 yrs. based on $100,000 borrowed, estimated monthly payment is $1868 OR 10 yrs. based on $100,000 borrowed, estimated monthly payment is $1,051. Origination and other fees, and loan amount may affect the APR.