Michigan Community Credit Union Go to main content
(517) 787-2060
Go to main navigation

Home Equity Loans in Jackson and Hillsdale, MI.

Home Equity Loans

At Michigan Community Credit Union, it is our goal to get you the money you need at the rate that works best for you. If you are a homeowner, our home equity loans are the perfect way to obtain additional funds for a variety of projects and uses. Considered a second home mortgage, a home equity loan, uses the equity of your home as collateral. Home equity loans at Michigan Community Credit Union will help you feel more secure about your borrowing decisions and your future. As a qualified Michigan homeowner, you can use your home's equity to finance virtually anything, including home improvement projects, debt consolidation, family vacations, college tuition and much more!

Home Equity Line-of-Credit 

A home equity line of credit (HELOC) is a type of loan where we agree to lend a maximum amount of funds over a certain term. With our home equity line-of-credit, you can make balance inquiries, obtain payment information, transfer loan payments, or get loan advances through Michigan Community Credit Union’s miTeller online banking. Our HELOCs have a variety of benefits including:

  • Generous credit limits for qualified members
  • Variable rate line-of-credit
  • APR* set as low as 1/4% below prime rate, maximum rate of 18% APR* 
  • Interest only payments
  • Access funds as often as you wish for up to 7 years
  • Borrow up to 80% of your home's equity
  • Funds available 3 days after closing
  • Interest may be tax deductible**
  • Make balance inquiries, obtain payment information, transfer loan payments or get loan advances through Michigan Community Credit Union’s miTeller Online Banking

Home Equity Fixed-Term Loan

Available with generous loan amounts for qualified members and low, fixed rates with terms for 5, 10, and 15 years, our home equity fixed-term loans are great lending options. You can borrow up to 80% of your home's equity, and funds are available three days after closing. Also, interest may be tax deductible.

  • Generous loan amounts for qualified members
  • Low, fixed rates with terms for 5, 10 and 15 years
  • Borrow up to 80% of your home's equity
  • Funds available 3 days after closing
  • Interest may be tax deductible**
  • Make balance inquiries, obtain payment information or transfer loan payments through Michigan Community Credit Union's miTeller Online Banking
*APR=Annual Percentage Rate. **Consult with your tax advisor.

What information should I bring to my appointment?

  • Legal description of property from deed or title insurance
  • Recent appraisal and property tax statement disclosing SEV
  • Current income verification

What is required at the closing of my loan?

  • Driver’s license
  • Copy of homeowner’s insurance policy adding Michigan Community Credit Union as an additional loss payee

Please see our current rates page for our up-to-date interest rates. For more information, contact a Member Service Representative at 517.787.2060 or 877.894.5033, or click below to apply today!