A Home Equity Loan from MIT Federal Credit Union, the perfect solution for important life events.
Small or large - we all have big events happen during our lives. Some events are unexpected emergencies such as job loss or major medical expenses, but there are plenty of positive ones, too - like a wedding or a vacation you've always wanted to take - and using the equity in your home is a great way to help finance it!
- The interest rate is typically much lower than a credit card or personal loan.
- Fixed rate, not variable like your credit cards. You'll know what your payments will be.
Learn more about Home Equity Loans here.
Ready to apply now? Click here.
* APR = Annual Percentage Rate. Rates as of May 1, 2018. 10-Year Fixed Rate Home Equity Loan, cost per thousand borrowed at 3.50% is $9.89 per month. Payment on $175,000.00 at 3.50% is $1,730.61 per month, principal and interest. Payment does not include amounts for taxes and insurance premiums, if applicable. This 3.50% Home Equity Loan is available for new money only with MIT FCU. Minimum loan amount is $25,000. Maximum loan amount is $400,000. Borrow up to 90% of your home’s value (the appraised value of your home less any mortgage balance). MIT FCU will pay closing costs associated with loans of $15,000 or more. Home Equity Loans closed within 24 months of opening date will be subject to reimbursement of closing costs by the borrower. Homeowners and Flood Insurance may be required. Subject to credit approval. Rate/offer subject to change without notice.