Access flexible, fee-free financing with a UMCU Home Equity Line of Credit. Use your home's equity for home improvements, college expenses, or debt consolidation — your funds, your way.
A Home Equity Line of Credit (HELOC) offered by UMCU can be a powerful tool for paying for large expenses, including home improvements, college expenses, debt consolidation, and more! You have the flexibility to use your line of credit when and how you want.
A HELOC is a type of revolving credit account that has a credit limit, a variable interest rate, and is secured by the equity in your home. Your home's equity is the difference between its market value and the amount you still owe on your mortgage.
A HELOC (Home Equity Line of Credit) is a flexible loan that uses your home's equity to finance other things. Common reasons members take out HELOCs include home renovations, educational expenses, and debt consolidation. A HELOC with UMCU provides you access to various benefits.
Loan payment protection coverage available to protect your family, assets, and credit
You can utilize up to 95% of your home's equity less any current mortgage balance. Be sure to use our HELOC calculators for estimates on:
Explore HELOC Calculators
UMCU may request the following information during the HELOC application process:
Our HELOCs are incredibly flexible! You can use the funds for a variety of things including home repairs, home renovations, educational expenses, debt consolidation, and more!
Insured by NCUA
*Subject to credit approval; normal credit standards apply. Additional limitations, terms, and conditions apply, and are subject to change without notice. Annual fee and prepayment penalty is $0.00. Variable APR as low as 8.50%. Maximum APR is 25.00%. For new members, a UMCU share savings account with a $5 deposit must also be opened and subject to credit approval. Property must be located in Michigan. Property insurance required. Flood insurance may be required. Contact UMCU at 800-968-8628 or visit umcu.org for more information about credit costs and terms. NMLS #712343.
**Remote closing is optional but it comes with a $160 fee.
*** Loan to Value (LTV).
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