4.00% APR*
4.00% APR*
10-Year Home Equity Loan

Put the equity in your home to work!

Ready to make the home renovations or repairs you’ve been thinking about all winter? Or looking to fund a large expense such as college tuition or a much needed vacation? A home equity loan from MIT Federal Credit Union is the perfect option.

Our 10-Year Home Equity Loan at 4.00% APR* is a great way to fund home improvement projects, cover large purchases, and consolidate debt. Plus, a home equity loan lets you budget easier too – you’ll have the same payment amount each month.

If you like the flexibility of revolving access to your equity, a Home Equity Line of Credit might fit your needs better and we have great options for those too.

Flexible borrowing options is a higher degree of banking.

*APR = Annual Percentage Rate. Rates as of March 1, 2017. 10-Year Fixed Rate Home Equity Loan, cost per thousand borrowed at 4.00% is $10.13 per month.  Payment on $175,000.00 at 4.00% is $1,772.75 per month, principal and interest. Payment does not include amounts for taxes and insurance premiums, if applicable,  which will increase your payment obligation. Member is responsible for ensuring taxes and insurance obligations are satisfied. This 4.00% Home Equity Loan is available for new money only with MITFCU. Minimum loan amount is $25,000. Loan amounts up to $400,000. Borrow up to 90% of your home’s value (the appraised value of your home less the first mortgage balance). MITFCU will pay closing costs associated with loan. Home Equity Loans closed within 24 months of opening date will be subject to a reimbursement fee. Homeowners and Flood Insurance is required where necessary. Please be aware that current market conditions may limit the amount of financing MITFCU can provide (examples: low property values, property located in a declining value area). State mortgage taxes in FL, KS, MD, MN, NY, OK, TN, and VA. Subject to credit approval. Rates subject to change without notice. Offer is subject to be withdrawn at any time. Restrictions may apply. This disclosure is applicable only to the Home Equity APR. NMLS #699225.