MaxEquity Line of Credit**
Eyeing a major new home improvement? Affordably finance your next home project with LMCU’s home equity line of credit (HELOC). MaxEquity gives you access to funds as you need them, much like a credit card, but with a much lower interest rate. Borrowing against the value of your home provides steady access to funds, once approved. As you make payments monthly, funds again become available for use.
MaxEquity line of credit features these great benefits:
- Borrow up to 80% of your outstanding equity at a competitive rate (Combined Loan To Value-CLTV)or up to 90% at a slightly higher rate
- No fees or out-of-pocket costs in most cases
- No fee to convert to a fixed rate loan
- Interest only payments available for up to 10 years
Ready to stop dreaming and get cracking on that home project?
Call (616) 301-8899, or visit LMCU.org for more details!
**Your rate will be based on your specific credit profile, the term of your loan, and your applicable combined loan-to-value ratio (CLTV). Conditions and restrictions apply. Subject to credit approval. All payments quoted assume minimum credit score of 720 and a CLTV under 80%. Rates are variable and will not exceed 12% APR. Home Equity Line of Credit rates are based on the current Wall Street Journal prime rate index and margin. Interest only payments are available on Home Equity Lines of Credit for the first 120 months of the loan and will automatically convert to a fixed 180 month term and payment after that. Homeowners insurance coverage is required. Minimum $5.00 membership required. HELOCs are available for homes located in Michigan and limited counties in Florida. Fees may differ in Florida. Call for details. LMCU NMLS# 442967