Home Equity Rates


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Home Equity Loan

DescriptionAPR as low asEstimated Monthly Payment Per $1,000Maximum Loan To ValueMaximum Term
5 Year Fixed Rate3.790%$18.3080%60 Months
5 Year Fixed Rate6.541%$19.57100%60 Months
10 Year Fixed Rate4.761%$10.4880%120 Months
10 Year Fixed Rate6.647%$11.42100%120 Months
15 Year Fixed Rate5.755%$8.3080%180 Months
15 Year Fixed Rate7.266%$9.13100%180 Months
Note: Annual Percentage Rate (APR) subject to change without notice and based on credit history. Rates shown include a 0.25% discount for having automatic funds transfer from a Members First Credit Union account as a payment method. The APR for products shown based on a borrower having a minimum credit score of 700 and a loan in the amount of $50,000. Appraisal fees refunded at closing. Homeowner's insurance required. In-house refinance fee may apply. 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. Estimated payments shown do not include taxes and insurance; your payment may be greater. 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. At closing, a credit equal to the amount of the third-party bona fide charges will be reflected on the HUD Settlement statement, 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.

Home Equity Line of Credit

DescriptionAPR as low asIntroductory APR as low asEstimated Monthly Payment Per $1,000Maximum Loan To Value
First Lien 10 Year Draw/20 Yr Repayment5.25%4.50%$6.8780%
First Lien 10 Year Draw/20 Yr Repayment7.25%N/A$8.05100%
Second Lien 5 Yr Draw/15 Yr Repayment5.25%4.50%$8.1780%
Second Lien 5 Yr Draw/15 Yr Repayment7.25%N/A$9.27100%
Note: Annual Percentage Rate (APR) and margins subject to change without notice and based on credit history. The APR for products shown based on a borrower having a minimum credit score of 700 and a line of credit in the amount of $50,000. Maximum term of 360 months on first lien home equity line of credit and 240 months on second lien home equity line of credit. Interest Only Home Equity Line of Credit: On first and second lien home equity line of credit, after the introductory rate period, the minimum APR is 3.00% with a maximum APR of 18% or the maximum rate permitted by law, whichever is lower. The APR on Home Equity Line of Credit are adjusted periodically after closing which may result in a increase. Homeowners insurance may be required. Payments are interest only through initial draw period only. Payments could be greater after initial draw period. The payment on these programs may change when the rate changes. Homeowners insurance is required. 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. At closing, a credit equal to the amount of the third-party bona fide charges will be reflected on the HUD Settlement statement, 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.