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Last Updated: 04/18/2025

MEMBERS1st Community Credit Union Home Equity Loan

from MEMBERS1st Community Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

600 - 850

Amount Range

N/A

Maximum LTV

100%

Loan Term (Years)

3 - 10

MEMBERS1st Community Credit Union Home Equity Loan Review

MEMBERS1st Community Credit Union Home Equity Loan is offered by MEMBERS1st Community Credit Union , a credit union founded in 1964 and based in Marshalltown, IA. MEMBERS1st Community Credit Union Home Equity Loan are available in 1 state.

Key Takeaways

Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
High maximum LTV ratio. MEMBERS1st Community Credit Union Home Equity Loan has a maximum loan to value ratio of 100%.
Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for MEMBERS1st Community Credit Union Home Equity Loan.

MEMBERS1st Community Credit Union Home Equity Loan Pros & Cons

Pros

Cons

Considers applicants with fair credit.

Charges an origination fee.
Charges prepayment fees.
No co-sign option available.
Only available in 1 state.

MEMBERS1st Community Credit Union Home Equity Loan FAQ

What are the home equity loan requirements of MEMBERS1st Community Credit Union Home Equity Loan

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.

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

What fees does MEMBERS1st Community Credit Union Home Equity Loan charge for a home equity loan?

MEMBERS1st Community Credit Union Home Equity Loan may charge a loan origination fee

What types of property can you use as security for a home equity loan with MEMBERS1st Community Credit Union Home Equity Loan?

Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. MEMBERS1st Community Credit Union Home Equity Loan will consider loans secured by the following property types:

Primary home.
Secondary homes and vacation properties.
Investment properties and house flipping projects.

Is MEMBERS1st Community Credit Union a legit company?

MEMBERS1st Community Credit Union was founded in 1964, it is a well-established company that has been in business for 62 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

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Contact

Headquarters

PO Box 777

Marshalltown

Marshalltown, IA 50158

Visit Site

Email Support

Hours of Operation

SundayClosedMonday9:00AM - 5:00PMTuesday9:00AM - 5:00PMWednesday9:30AM - 5:00PMThursday9:00AM - 5:00PMFriday9:00AM - 5:00PMSaturdayClosed

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SuperMoney Net Recommendation Score

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-1000+100

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