Home Equity Line of Credit

The convenience of anytime access and continuing source of funds can be used for debt consolidation, home improvements, education costs, wedding expenses, vacation plans and most any other purpose.

Features:

  • Borrow up to $250,000 (up to 80% current home LTV*)
  • 10 year draw period
  • Revolving credit line available (up to 20-year repayment)
  • Minimum monthly payment based on principal & interest due for the current balance
  • No pre-payment penalties
  • No annual fees
  • Convenient access to your money—Online Banking or check
  • Interest may be tax-deductible**.

Additional Information

*Up to 80% Loan-to-Value financing based on qualification. Processing fee is non-refundable. Loan applications subject to METRO’s lending guidelines. Listed rate is for excellent credit, your rate may vary based on your credit score. The final rate is based on credit score and Loan-to-Value financing (LTV). The Home Equity Line-of-Credit annual percentage rate is based on Prime Rates plus an added margin. The rate is subject to change January 1st and July 1st each year. The prime rate is currently 6.75% as published in the Wall Street Journal as of December 11, 2025. Minimum monthly payment is $100. Property values are based on the lesser of the current appraised value or a Freddie Mac Home Value Explorer (HVE®) with a condition report. Independent appraisals not accepted. Consult your tax advisor regarding tax-deductible interest. Rates subject to change. Savings account is required for credit union membership.

Home Equity Fixed Rate

Get the money you need in a convenient, single payout to cover debt consolidation, home improvements, medical expenses or most any other purpose.

Features:

  • Loans up to $250,000 (up to 80% current home LTV*)
  • Fixed terms of 5, 8, 10 or 15 years
  • No annual fees
  • Fixed-rate monthly payments
  • No early payment penalties
  • Interest may be tax-deductible**.

*Processing fee is non-refundable. Loan applications subject to METRO’s lending guidelines. Final rate is based on credit history and loan-to-value financing. Property values are based on the lesser of the current appraised value or a Freddie Mac Home Value Explorer (HVE®) with a condition report. Independent appraisals not accepted. **Consult your tax adviser regarding tax-deductible interest.

Real Estate Loans

METRO Federal Credit Union (NMLS # 738073) has partnered with myCUmortgage, a credit union company, to provide all types of real estate mortgages.

We offer a variety of home loan programs with as little as no down payment, or minimum down loans. These loan programs are:

  • VA loans for qualified veterans with no down payment.
  • FHA mortgages with as little as 3.5% down
  • Conventional Mortgage loans with as little as 5% down.
  • Terms are 10, 15, 20 and 30 years depending on the type of loan
  • Competitive rates

Contact our Loan Officer at 847-670-0456, Ext. 2 for more information or to check the daily mortgage rates.

Visit our mortgage center to check online mortgage rates, apply for a mortgage (purchase or refinance), or just inquire on first time home buying process.

*METRO Federal Credit Union is an equal housing lender. All loans are subject to qualifying requirements. All rates and terms subject to change. Rates and terms subject to credit score. APR is annual percentage rate. myCUmortgage is an NMLS lender.