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
  • 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

Whether you're purchasing a new home or refinancing your current mortgage, METRO Federal Credit Union is here to help. We offer competitive mortgage financing with personalized service from our experienced lending team.

For current rates or to discuss your financing options, please contact us at 847-670-0456, ext. 2 and ask for Gabby. We'll be happy to provide a personalized rate quote and answer any questions you may have.

  • New purchase or refinance
  • Deicated service
  • Conventional Mortgage loans up to 90% Loan-to-Value
  • 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.

*METRO Federal Credit Union (NMLS # 738073) 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.