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Last Updated: 04/18/2025

MidWest America FCU Second Mortgage Loans

in Home Equity Loans from MidWest America Federal Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

Up to $250,000

Maximum LTV

80%

Loan Term (Years)

Up to 15
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MidWest America FCU Second Mortgage Loans Review

MidWest America FCU Second Mortgage Loans is offered by MidWest America Federal Credit Union (NMLS #479430), a credit union founded in 1936 and based in Fort Wayne, IN. MidWest America FCU Second Mortgage Loans are available in 1 state.

Key Takeaways

  • Only primary residences considered. MidWest America FCU Second Mortgage Loans does not offer financing for vacation homes or investment properties.
  • Maximum LTV. MidWest America FCU Second Mortgage Loans has a maximum loan to value ratio of 80%.

MidWest America FCU Second Mortgage Loans Pros & Cons

MidWest America FCU Second Mortgage Loans FAQ

How much can you borrow with a MidWest America FCU Second Mortgage Loans home equity loan?

A home equity loan allows homeowners to borrow money using their home as collateral (similar to a mortgage). Loan amounts vary depending on the value of the home minus the balance of any mortgages or liens on the property.
MidWest America FCU Second Mortgage Loans allows borrowers to apply for home equity loans of up to $250,000.00. The actual maximum loan amount will vary depending on the value of the property, how much you owe on it, and your creditworthiness.

What are the home equity loan requirements of MidWest America FCU Second Mortgage Loans

This lender's maximum loan to value rate is 80%. That means the total debt secured by the property cannot exceed 80% 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 $60k.
Generally, the APRs of home equity loans do not include points and financing charges, just the interest rate.

What fees does MidWest America FCU Second Mortgage Loans charge for a home equity loan?

MidWest America FCU Second Mortgage Loans may charge a loan origination fee

What types of property can you use as security for a home equity loan with MidWest America FCU Second Mortgage Loans?

Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. MidWest America FCU Second Mortgage Loans will consider loans secured by the following property types:
  • Primary home.

Is MidWest America Federal Credit Union a legit company?

MidWest America Federal Credit Union was founded in 1936, it is a well-established company that has been in business for 90 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

1104 Medical Park Dr
Fort Wayne, IN 46825
(260) 482-3334
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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 - 5:30PM
Saturday
Closed

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