Single Advance Home Equity
Have you been thinking about starting some home renovations such as your kitchen or basement? Home Equity loans allow you to borrow money using the equity in your home as collateral. A single draw, one-time advance, fixed rate loan with a set term. The amount borrowed depends on income, credit history, and the market value of your home.
Fill out the form below to get started.
-Active MUCU membership (Non-members need to complete an Application for Membership and return it with two pieces of identification per signer.)
-Completed & signed loan application
-Verification of income (2 current pay stubs, W-2 or last 2 years tax returns)
-Two years tax returns required for self-employed applicants
-State Equalized Value (SEV) or recent appraisal and summer and winter tax bills.
-Proof of Homeowners Insurance and the cost of the policy (annually)
-Current Mortgage Balance (Mortgage Statement)
-Current year cost of summer and winter taxes.
APR = Annual Percentage Rate. Single Advance Home Equity Loans are fixed-rate loans with set repayment terms. Your APR is based on your credit history and underwriting factors. Loan amounts depend on income, credit history, and home value. Programs, rates, terms, and conditions are subject to change without notice. Membership eligibility required. Equal Housing Lender. Federally insured by NCUA. Maximum LTV is 80%. Membership eligibility required. Option for 90% LTV available. NMLS#500296
