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Renew Your Home With Fresh Financing

Science has proven that a clean home is a happy home. Are you antsy to get started on a home improvement project that adds value to your home and brings a smile to your face? Use our Home Equity Loan or Line of Credit†† to restart, refresh, or renovate your home!


  • Add an outdoor space for entertaining
  • Create a beautiful and dedicated home office space
  • Hire an interior decorator to style your home
  • And much more!

HELOC - Enjoying Life

Are you curious about which option is right for your dream project? We can help!
Answer the questions below to get started.

A Side by Side Comparison

Home Equity Line of Credit

  • Access funds via e-Branch or special HELOC checks
  • Draw on your HELOC for a set number of years (5 or 10 year draw period offered) then have up to 20 years to repay.
  • Pay interest and principal every month only on the funds you use
  • Choose between monthly adjustable or annually adjustable rate, indexed to Prime plus a margin

Apply for a Home Equity Line of Credit     

Home Equity Loan

  • Receive your funds in a lump sum
  • Fixed rate for the term of the loan
  • Great way to consolidate debt or pay for a large expense with fixed payments and a low rate, and you’re letting the value you’ve built in your home pay for your needs.

Apply for a Home Equity Loan    

Home Equity Loans
Effective Date: Thursday, April 15th, 2021
15 Years 5.00% $7.91
20 Years 5.50% $6.88
10 Years 4.50% $10.37
5 Years 4.25% $18.53

Home Equity Lines
Effective Date: Thursday, April 15th, 2021
Repayment PeriodLoan to Value RatioIndexAPR***
Monthly Adjustable
Up to 20 Years 90% 3.25% (0% Margin) 3.25%
Annually Adjustable
Up to 20 Years 90% 3.25% 4.25%

Once you know which loan is right for you, it’s time to apply. Our online application process is easy and fast. Use the Apply Now buttons above, fill out the application, and you’ll know in as little as 15 minutes if you’re approved so you can move forward with your home improvement plans!

Why Should I Choose MIT FCU for your Home Equity Loan or Line of Credit?
MIT FCU has over 80 years of experience working with the greater MIT community. We understand your needs like no other financial institution and can help you make the best lending decision. Plus, being part of a credit union means you get a piece of the pie!

Learn More


Maximum APR: The maximum APR on Home Equity Loans and Lines of Credit is 18%.

† Resource provided by Psychology Today and BBC.

†† All MITFCU Loans and Lines of Credit are secured against the member’s primary residence and will only take 1st or 2nd lien position on the property. Home Equity applications require income verification, real estate tax bill, property deed and mortgage and home equity statement if applicable. The credit union will pay all closing costs should applicant borrow $15,000.00 or more and the loan is not repaid within the first 24 months. If the loan is repaid within the first 24 months then the reimbursement of closing costs would apply. We do not finance property in a trust or investment property. MIT Federal Credit Union offers home equities in all states except Texas.

* APR = Annual Percentage Rate. Rates are valid as of 4/15/2021 and are subject to change without notice. Payment example: A loan of $15,000 with a term of 180 months and an APR of 5.00% has a monthly payment of $118.65. Payment example included principal and interest only, payment does not include amounts for taxes and insurance premiums, if applicable, which will increase your payment obligation; you are responsible to ensure that taxes and insurance obligations are satisfied.

*** Real Estate Equity Lines of Credit are indexed to the Prime Rate published in the “Money” section of The Wall Street Journal. For monthly adjustable Home Equity Lines of Credit, the APR can change on the first day of each month and is established ten days prior to the first day of the month. For annually adjustable Home Equity Lines of Credit, the APR can change once per year on January 1, and the rate is established 30 days prior to this date.









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