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Open the Door to Your Better Future

Unlock life's memorable moments like making home improvements, paying off bills, or paying for college with a MECU Home Equity Line of Credit (HELOC). 
Draw and repay funds similar to the way you use a credit card
No closing costs, annual fees, or pre-payment fees2
Easy application with quick decisions

Take advantage of flexible repayment terms:

Once your application is approved, you can access your credit line to cover back-to-college costs.
  • 5.99% fixed APR1 for 12 months, then as low as Prime minus 0.25%1
  • Amounts available from $5,000 up to 80% of the equity of your home
  • Credit line available for up to 15 years
Home Equity Line of Credit Rates
Loan to Value 12-Month Introductory Rate FIXED APR* Standard, Post Introductory Rate VARIABLE APR* Monthly Payment** (per $1,000 borrowed)
Standard Home Equity Line of Credit1 Interest-Only Payment Option Available on "Standard" HELOCs up to 80% LTV
Up to 80% LTV 5.99% Prime minus 0.25% Currently: 8.25% $9.70

1/*APR = Annual Percentage Rate. While this page is updated regularly, rates are subject to change. Minimum monthly payment equals $100. Introductory rate will be fixed for 12 months. The standard, post-introductory APR will be a fully indexed, variable rate based on Prime plus or minus a margin based on your loan-to-value ratio at account opening. Prime Rate is obtained from the Wall Street Journal and is currently 8.50%, in effect since July 27, 2023. The minimum standard APR that can apply is 3.25% and the maximum APR that can apply is your standard rate plus 6%. The maximum APR in Maryland is 18%. The standard, post introductory rate is variable and may adjust on a quarterly basis. Subject to credit approval and verification of collateral. Adequate property and flood insurance is required, if applicable. MECU membership required.

2 MECU will pay the initial closing costs on “Standard” Home Equity Lines of Credit. If the line is paid off and closed within 12 months of original note date, closing costs must be reimbursed to MECU by the borrower. Closing costs vary and generally range around $850 to $1,000 on a $20,000 line of credit.

**Monthly payment is per $1,000 borrowed at the post-introductory APR assuming no additional advances or rate increases.

Handbook on Adjustable Rate Mortgages