Home Equity Loan
After all the years of paying for your dream home, now it's time to let your home pay for your dreams.
With a Home Equity Loan from Michigan Schools and Government Credit Union, you can get the money you need to finish your basement, add an addition onto your home, or even pay for college. It's one more option to setting yourself on the path to financial success.
- Competitive fixed rate
- Closed-end loan up to 20 years
- Borrow up to 90% of home's equity
- Zero application fee
- No closing costs option
- No annual fee
- Interest paid is usually tax-deductible*
- Choose where you want to close - at home, work, anywhere
- Quick and easy process
Check with one of our Mortgage Specialists to determine if this option is right for you.
*Consult your tax advisor regarding deductibility.
|Home Equity Loan|
|Type||Term||APR* as low as|
|Fixed - 80% Loan-to-Value||1-20 Years||3.75%|
|Fixed - 90% Loan-to-Value||1-10 Years||4.50%|
Example: A loan amount of $10,000 at 120 months with up to 80% Loan-to-Value and a rate as low as 3.75% would be approximately $100.09.
*Annual Percentage Rate. Rates may vary, based on term, credit history, collateral, and whether this loan will serve as a first or second lien. Contact MSGCU for details.