Home Equity Line of Credit (HELOC)
After all the years of paying for your dream home, now it's time to let your home pay for your dreams. It is a great way to setting your finances back on track.
With a Home Equity Line of Credit (HELOC) from Michigan Schools and Government Credit Union, you can make home improvements, pay for college tuition, buy a car, consolidate debt, or even take a vacation. Let our Loan Specialists help you select the financing option that's right for you. Call today!
- Variable rate
- Open-end line of credit
- Borrow up to 80% of home's equity
- Minimal closing costs
- Interest paid is usually tax-deductible*
- 10-year draw period followed by 10-year repayment period
*Consult your tax advisor regarding deductibility
| Home Equity Line of Credit (HELOC) | ||
| Type | Term | APR* as low as |
| Variable | 10-year draw period; 10-year repayment |
4.75% |
| *APR = Annual Percentage Rate. Rates based on term, credit, and collateral (contact MSGCU for details). Initial rate may change. Contact Michigan Schools and Government Credit Union for most current rate. Variable-rate loan may change quarterly based on the Wall Street Journal Prime Rate. Maximum APR is 18.0%. | ||
