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  Members First Credit Union Home Equity Installment Loans

Members First Credit Union Home Equity Installment Loans

in Home Equity Loans from Members First Credit Union · NMLS ID #824420

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Members First Credit Union Home Equity Installment Loans

Unaffiliated

in Home Equity Loans from Members First Credit Union · NMLS ID #824420

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Highlights
Loan Amount N/A
APR  (Fixed APR) Starting at 5.08%
Loan Term (Years) Up to 15 years

Members First Credit Union Home Equity Installment Loans Review

Members First Credit Union Home Equity Installment Loans is offered by Members First Credit Union (NMLS #824420), a credit union founded in 1936 and based in Midland, MI. Members First Credit Union Home Equity Installment Loans is available in 1 state across the USA.

Members First Credit Union Home Equity Installment Loans FAQ

What are the home equity loan requirements of Members First Credit Union Home Equity Installment Loans

This lender's maximum loan to value rate is 100%. That means the total debt secured by the property cannot exceed 100% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have good credit, you may qualify for a line of credit of up to $80k.

What home equity loan rates does Members First Credit Union Home Equity Installment Loans offer?

Members First Credit Union Home Equity Installment Loans offers home equity loans with a fixed APR

Remember the APRs of home equity loans do not include points and financing charges, just the interest rate.

What fees does Members First Credit Union Home Equity Installment Loans charge for a home equity loan?

Members First Credit Union Home Equity Installment Loans may charge a loan origination fee

What types of property can you use as security for a home equity loan with Members First Credit Union Home Equity Installment Loans?

Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. Members First Credit Union Home Equity Installment Loans will consider loans secured by the following property types:

  • Primary home.

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Availability

  Available in 1 state
Michigan
Availabile in all of Michigan

Feature Breakdown

Credit Score Range 600 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use Primary Home
Joint Loan Applications Accepted
  • Individual Applications
Maximum LTV 100%
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Government Issued Photo ID
  • Social Security Number
  • Driver License (or other photo ID)
APR (Fixed APR) Starting at 5.08%
Loan Term Up to 15 years
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)

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