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Home Equity Loans and Lines of Credit

Use the equity in your home to do all the things you’ve been wanting to do. Home improvements, renovations and additions, debt consolidation, college education – it’s the smart and simple way to achieve your goals. Turn to our Financial Wellness Team and learn how utilizing the equity in your home is a powerful tool to enhance your financial quality of life.

  • Make home improvements, take a dream vacation, pay for education costs, and more
  • Enjoy greater savings with a rate that's typically lower than credit cards and personal loans
  • Get your funds sooner with a quick application and loan closing process—in as few as 15 days
  • Receive guidance and advice from our knowledgeable Financial Wellness Team


Fixed-Rate Home Equity Loans

Fixed-Rate Home Equity Loans

  • Rates as low as 4.99% APR* for a 5-year term1
  • Flexible repayment options - from 5 to 20 years
  • Enjoy a fixed interest rate and payment for the life of your loan
  • The interest you pay could be tax deductible**

Express Refi Home Equity Loan

  • Refinance your existing mortgage now and you could save hundreds of thousands of dollars over the life of your loan
  • Lower closing costs than a traditional refinance
  • Terms up to 25 years

Home Equity Plus Loan

  • This option may be perfect for homeowners with little equity established
  • Borrow up to 100% of the value of your home
  • Terms up to 20 years
  • Loan requires a mortgage on your primary residence


Home Equity Lines of Credit

  • Rates as low as 3.49% APR for 6 months or 3.99% APR for 12 months2
  • Simple and convenient - tap into your line of credit whenever a need arises
  • Pay principal and interest on the funds you use
  • Access up to 95% of the value of your home
  • Easy access to funds via convenience checks and online/mobile banking transfers
  • Rates substantially lower than credit cards
  • Unlike personal loans or credit cards, the interest your pay could be tax deductible*


Which is Right for You?
  Home Equity Loan  Home Equity Line of Credit
Your Needs

You have one-time expenses, like:

  • Major home renovation
  • Buying a car
  • Consolidating debt

You have ongoing expenses, like:

  • Medical bills
  • Education expenses
  • Home improvements
Benefits Potential tax-deductible interest* Potential tax-deductible interest*
Interest Rate Fixed interest rate, with monthly payments that never change Variable interest rate, with monthly payments that vary based on the Prime index changes
Access to Money Receive a single check or cash transfer for the full amount Access funds as needed, either through checks or transfers to your account
Repayment Non-variable monthly payments, including interest and principal Minimum monthly principal and interest payments based on the draw amount



Resources from Financial Wellness U

  • Discover our property and casualty insurance options. Get started>>
  • Learn more about home equity loans and lines and take advantage of our online tools to plan your next steps. Get started>>


Get Started

Apply online or contact a Financial Services Consultant at 1-800-226-6428.


*APR = Annual Percentage Rate. Advertised rates are for applicants with exceptional credit. Offers restricted to primary, single family residential real estate properties for personal purpose, non-purchase money. Investment properties, second homes, and properties located in Colorado, Texas, and West Virginia are not eligible for this offer. New York residents are subject to New York State Mortgage Tax. Property must have a clean title, adequate appraisal, and carry adequate property and flood hazard insurance. Loans are available to credit union members in good standing with at least $5 in the share savings account. Application and appraisal fees may apply, and vary based upon the loan amount, property location and title insurance required. Rates, including the Prime Rate, are accurate as of 11/27/2018 and are subject to change without notice. Other rates and terms available. Your rate may vary based on loan terms and creditworthiness. Contact the credit union at 1-800-226-6428 for complete details based on your loan request.
**McGraw-Hill Federal Credit Union does not provide tax or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
Advertised rate applies to a 5-year loan term and is for applicants with exceptional credit. Your rate may vary based on term and creditworthiness. Advertised APR applies to first mortgage loan amounts between $10,000 and $300,000 and a maximum combined loan-to-value (CLTV) of 70%.
This is a variable rate loan. 3.49% promotional APR is valid for six (6) months and 3.99% promotional APR is valid for twelve (12) months from the loan open date. Applicant may only select one promotional rate. After the promotional period ends, the loan will revert to Variable Annual Percentage Rate as low as the Prime Rate plus 0.375%. The Prime Rate disclosed by the Wall Street Journal as of 11/27/2018 is 5.25%. Advertised APR applies to line of credit amounts up to $500,000 and a maximum combined loan-to-value (CLTV) of 80%.

Questions? Ask McClever.

  • 1-800-226-6428 |
  • Routing Number: 226077943 |
  • NMLS# 407684
  • FDIC
  • Equal Housing Lender
  • Equal Opportunity Lender
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