Home Equity Loan | MI Credit Union Home Equity Loan Rates

Home Equity Line of Credit

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.

Completely fee-free
- No application fee
- No recording fee
- No credit report fee
- No closing fees
- No annual fee
Borrow up to 95% of your home’s equity*
Competitive interest rates
Conveniently access your funds with a Visa check card, online banking tools, or checks
May be tax deductible
10-year draw period followed by 15-year repayment period
Loan payment protection coverage available to protect your family, assets and credit

Apply Today!

HOW TO APPLY

You can apply in multiple different ways:

Easily through online banking or the mobile app by selecting 'Apply for a Loan' from the menu, and choosing the Home Equity Loan option
By clicking "Apply Today" above
Over the phone by calling 734-662-8200 or 800-968-8628
At any of our branch locations

For questions, please email [email protected]. Do not provide any personally identifiable information in the email. NMLS#712343

*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 7.50%. Maximum APR is 13.75%. Credit limits up to $750,000. For new members, a UMCU share savings account with a $5 deposit must also be opened and subject to credit approval. 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.

Credit Cards

Whether you're looking for a lower interest rate card or one with a cash-back bonus, UMCU has credit card options that will fit your needs.

Learn More

What our members are saying

We've refinanced our mortgage a few times and have had a couple home equity loans with UMCU. It has always been easy to get these done and the staff is very helpful. M.B., Member Since: 1987

Already a Member?

Enjoy the benefits of your UMCU membership by taking advantage of our special offers!

Current Offers

Become a Member!

Start enjoying all of the exclusive benefits a UMCU membership offers today!