Home Equity

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

Home Equity At Members First Credit Union, it's all about choices and that holds true with our home equity products. With our home equity loan or line of credit, you get the same result; it's how you get there that differs. Let us help you decide which one fits your lifestyle!

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With any of our home equity products, you get these great perks:
  • No application fees
  • No closing costs*
  • Appraisal fees refunded at closing

Home Equity Loan

With a fixed rate and term, our Home Equity Loan allows you to receive all of the funds up front, and pay it back on a fixed schedule.
  • Low rates
  • Terms up to 180 months
  • Borrow what you're comfortable with and choose your term
Apply Online or print and complete our home equity loan application.


Home Equity Line of Credit

With a convenient, variable-rate line of credit, you can spend the funds on whatever you need, when you need it. Use it now or save it for later.

  • 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
  • Principal payments may be made at any time and are not required during the draw period

Apply Online or print and complete our home equity line of credit application and download our home equity line of credit brochure (as part of the application).

Questions? Our home equity representatives are happy to assist by email or phone at (800) 860-3832 or (603) 622-8781, ext 780.

The Fine Print

*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.



 

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