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Home Equity Options

A Home Equity Loan or Home Equity Line of Credit will open the door to the equity you have been building in your home. Use the cash for major purchases, to update your home or even to help pay for your child’s education. You can borrow against your home’s value minus any mortgages against the property.

Discover the option that is best for you:

  • Second Mortgage*, also known as a Home Equity Loan will provide you with a fixed loan amount and fixed rate for the life of the loan.
  • Home Equity Line of Credit offers you a flexible line of credit tied to prime for the life of the line. Click here for our HELOC brochure and disclosure.


  • Competitive interest rates
  • Borrow up to 80% of the value of your home, 70% of the value of your condo
  • Second Mortgage/Line of Credit up to $100,000
  • Interest may be tax deductible**
  • Quick approval process

Apply for a Loan

*Subject to Memorial Employees Financial Credit Union Lending Guidelines. A Second Mortgage example payment of $20,000 borrowed, 60 month term, 5.0% APR=monthly payment of $380.52. Rates vary. Membership is required. Federally insured by NCUA.

**Consult a tax professional for possible tax deductions.