Skip to content
SuperMoney logo
SuperMoney logo
Home Equity Lines of Credit
Advertiser Disclosure

Last Updated: 04/18/2025

Members First Credit Union HELOC

in Home Equity Lines of Credit from Members First Credit Union

Last Updated: 04/18/2025

Members First Credit Union HELOC logo
No Reviews Yet

This product has no reviews yet. Help others by sharing your thoughts.

Be the first to rate
Cast Your Vote icon

Cast Your Vote

Compare All Home Equity Lines of Credit

Filter & compare all your options in one place.

Filter & compare all your options in one place.

View All Products
Highlights icon

Highlights

Credit Score Range

600 - 850

Amount Range

$5,000 - $100,000

Maximum LTV

100%

Minimum Draw

N/A

Loan Term (Years)

Up to 15
Speech bubbles icon

Members First Credit Union HELOC Review

Members First Credit Union HELOC is offered by Members First Credit Union (NMLS #824420), a credit union founded in 1936 and based in Midland, MI. Members First Credit Union HELOC are available in 1 state.

Key Takeaways

  • Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for Members First Credit Union HELOC.
  • Only primary residences considered. Members First Credit Union HELOC does not offer financing for vacation homes or investment properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • High maximum LTV ratio. Members First Credit Union HELOC has a maximum loan to value ratio of 100%.

Members First Credit Union HELOC Pros & Cons

Members First Credit Union HELOC FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit secured by your home. Once approved, you can access funds by check, phone, credit card, or online up to your credit limit.
Borrowers can apply for lines of credit of up to $100,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.
The maximum loan-to-value (LTV) ratio goes up to 100%. This means total debt secured by the property cannot exceed this percentage of its value. For example, on a $100,000 home with a $20,000 mortgage balance, you may qualify for up to $80k in credit.

What are the terms for Members First Credit Union HELOC?

HELOCs include a draw period followed by a repayment period. During the draw period, borrowers can access funds as needed up to the credit limit.
Members First Credit Union HELOC offers home equity loans with a maximum term of 15 years and a draw period of up to 10 years.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does Members First Credit Union HELOC charge for a HELOC?

Members First Credit Union HELOC may charge an origination fee.

What types of property can you use as security for a HELOC with Members First Credit Union HELOC?

Members First Credit Union may consider HELOCs secured by the following property types:
  • Primary residences

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Members First Credit Union HELOC logo

Message from Members First Credit Union HELOC

It's not just a home loan. It's a, "Getting the keys to our next adventure", loan. Whether you're upgrading, downsizing, or just looking for something new, we've got the affordable home financing you need to make it happen. We can do everything that the "big banks" can do, including fixed rate mortgages with first and second home loan options, but with more flexibility. 

Use the equity in your home to pay-off high interest debt, make needed renovations, or pay for an upcoming event. We have low variable rates. Please reach out if you have any questions.

Contact

Headquarters

P.O. Box 2165
Midland, MI 48641
Visit Site
Email Support

Hours of Operation

Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
Closed

Other Services by Members First Credit Union