Home Equity Line of Credit (HELOC)
It's not a regular loan. It's a cash reserve that you can call on over and over, whenever you need it. Pay for your dream kitchen. Cover unexpected costs. Consolidate high-interest debt. Or do all of the above.
It’s money for a new addition. Or college tuition.
- Variable interest rate, starting as low as the prime rate*
- Money available as a revolving line of credit
- Draw on money for up to 10 years, repay over 15 years
- Access money by writing checks or transferring to your checking account through Online Banking
- No closing costs or application fees
Applying for a HELOC at Michigan Schools and Government Credit Union is a quick and easy process. We can hold the closing at your home, your place of business or wherever is most convenient for you. Another advantage is that interest paid on the loan may be tax deductible. Consult your tax advisor for more details.
*Variable rate loans are tied to market index (or prime rate). Rates and payments may change over time.
