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Home Equity

From consolidating debt to funding projects, there are endless uses for your home's equity.

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The equity in your home can be there when you need it most. And, with our variable rate Home Equity Line of Credit, you pay only for what you use and can make principal payments any time.

We’re in your corner and here to help. And, with our introductory rate as low as 2.50%APR* and no closing costs** now's the time to apply.

How can we make a difference for you today?

Why a Home Equity at Members First?

  • No application fees
  • No closing costs**
  • Appraisal fees refunded at closing

Home Equity Line of Credit

With a variable rate Home Equity Line of Credit, you can spend the funds on whatever you need, when you need it. Use it now or rely on it later for emergencies.

  • Variable rates
  • Flexible terms
  • Pay only for what you use
  • Easily access funds when you need them
  • Pay only the interest during the draw period
  • Make principal payments any time


Home Equity Loan

With a fixed rate and term, our Home Equity Loan allows you to borrow what you need all at once, and make set monthly payments. Use it to consolidate debt, pay tuition, or complete that special project. The uses are endless.

  • Fixed rates
  • Terms up to 180 months
  • Borrow what you're comfortable with and choose your term

*Annual Percentage Rate (APR) accurate as of 9.1.20, subject to change without notice and based on credit history. 2.50% APR valid for first 12 months, then rate changes to Prime + 0% variable monthly for remaining life of the line (Prime Rate as published in The Wall Street Journal preceding the start of each monthly billing period; current prime rate is 3.25%). Minimum 3.00% APR; maximum 18.00%APR. 3.25% APR based on a loan-to-value (LTV) of 80% with 360 monthly payments of $5.67 per thousand during repayment period. Homeowner’s insurance required. Monthly payment does not include insurance; your payment may be greater. Appraisal fees refunded at closing. An early closeout fee equal to the amount of Bona Fide Third Party Costs paid by Members First Credit Union on your behalf will be charged to you in the event you make a full prepayment and close the loan prior to 36 months from the date of closing.

**No Closing Costs are incurred on Home Equity Loan or Home Equity Line of Credit requests approved by Members First Credit Union when the following requirements are met: 1) Property is a 1-4 family residential owner-occupied property; 2) Home is not listed for sale. Programs, rates, terms and conditions are subject to change without notice. Other restrictions may apply. Membership and credit requirements apply.

At closing, a credit equal to the amount of the third-party bona fide charges will be reflected on the Closing Disclosure, subject to the following exceptions: If the title is held in a trust, fees for trust review and trustee certificate preparation and recording will be incurred by the member. Fees for additional title work or documentation to correct title defects will be charged at the time of closing and are not covered by the No Closing Cost program. Escrow Deposits (if applicable) in the case of our Home Equity Loan products from the date of disbursement to the 1st of the following month will be charged at the time of closing and are not covered by the No Closing Cost program. The appraisal fee will be collected at the time the appraisal is ordered. When this happens, you will be credited at closing for the amount of the appraisal fee collected. No refund of appraisal fee if loan does not close. Homeowners insurance is a requirement of the loan and the cost of the insurance is not covered by the No Closing Cost program. Offer subject to change at any time.

If you close your home equity plan within the first three (3) years, you will reimburse us the fees paid on your behalf.