Important Notice

MCCU Mobile Banking App and Apple’s iOS Update

Apple’s most recent iOS update has triggered a malfunction with our mobile banking app. If you have not completed the most recent iOS update, the mobile app will continue to work.

If you have completed the iOS update, we apologize for the inconvenience this may cause you.

We are currently updating the mobile app and we will send a message once the updated application is available in the Apple Store.

You may still access your account online through Online Banking.

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Online Banking

Home Equity

You work hard for your home. It’s time to let it start working for you.

Let your home work for you! If you need extra money for home improvements, a vacation, medical expenses, a wedding, school supplies or anything else, consider tapping the equity in your home. The longer you’ve lived there, the more money you’ll have available.

Make the Equity in your home work for you!

Texas law allows you to borrow up to 80 percent of your home’s fair market value, minus the balance of any mortgages on the home.

Example:

$250,000  - Fair market value
x 0.80  
$200,000  - Credit value of your home
- $80,000  - What you owe on your mortgage
$120,000  - Maximum amount available to borrow

 

Fall Savings: Home Equity & Home Improvement

We are offering a Step Loan with a 2.99% introductory interest rate for the first 12 months, then the interest rate changes to the final interest rate for the remainder of the loan term.

Annual Percentage Rates as low as 3.464% APR* based on a five year first lien home equity loan with credit score of 680 or higher.

NMLS#502619

Home Equity Loan or Auto Loan?

Home Equity Loans can be a valuable option for purchasing a new vehicle. The interest rate is sometimes a little higher, but the interest on a Home Equity Loan can often be deducted on your tax return. If you have very few deductions on your itemized return, Home Equity Loans are often a better deal. Talk to your tax advisor about the benefits.

Meet the Mortgage Team!

Apply Now

Home Equity1
Fees No closing costs for loan amounts less than $100,000 unless an appraisal or property survey is needed. Fees for loan amounts above $100,000 vary based on loan specifics and will be discussed at the time of loan disclosure.
Interest Fixed
Term Fixed (up to 240 months)
Limits Up to 80% of home’s appraised value minus the current mortgage.
Additional Draws Allowed No
Tax Deductible Interest paid may be tax deductible - consult a tax advisor.
Use of Funds Miscellaneous
Draws Lump sum - one time advance
Prepayment Penalty None
Right to Cancel 3 Business days

1 Subject property must be in Texas. Primary residences or second/vacation properties only. Manufactured homes, agricultural or investment properties not allowed. Available for first or second lien position only. Third lien position not allowed.

Members Choice Credit Union

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