Home Equity Loans

Home Equity

As a homeowner, you work hard to pay for your home. With the equity you have built as collateral obtain a home equity loan or line of credit from Meadowland Credit Union. You can use your money for home improvements, college tuition, a new vehicle, a vacation, to consolidate bills, or anything else you wish to do. It's financial solution to make all your dreams come true.

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Home Equity Line of Credit

A home equity line of credit is an account where you can continuously access your available funds up to your credit limit. As you repay the loan you can access the money available again and again, without having to reapply for the loan. The annual percentage rate is variable and will change with the prime rate. Meadowland Credit Union is current offering a Line of Credit with a minimum floor rate of 4.00% APR*.

Another advantage of the home equity line of credit is the flexibility to receive funds available. You can transfer funds to your checking and savings accounts through: Online Banking, 24 Hour Teller Line or by calling your local MCU branch.

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Fixed Rate Home Equity Loan

With a fixed rate home equity loan you borrow a fixed amount and pay back the loan over a pre-determined period of time. The monthly payment for a fixed rate loan is typically higher than a line of credit, but you will pay off the loan quicker.

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* APR=Annual Percentage Rates. Rates subject to qualified credit and may change. Your monthly payment and annual percentage rate will vary depending on your credit history and loan to value. Check with your tax advisor about tax deductibility. No closing costs, no annual fee and up to 100% financing is subject to qualified credit and may not be available at all MCU branch locations. Rates will never be lower than 4% and will never exceed 18%. Rate depends on loan-to-value ratio and qualified credit and may change. Rate indexed to prime rate. Maximum home equity line depends on home value and total loans secured by home. Minimum $5000 line. Monthly payment may be as low as $200 is subject to qualified credit. Property insurance required. Loans currently financed at MCU require a minimum $250 advance to qualify for this offer.

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Nationwide Mortgage Licensing System

Meadowland Credit Union #680540

Mortgage Officers:

Karen Madson #227007

David Horner #802903

http://www.nmlsconsumeraccess.org