A Home Equity Line of Credit
centered on you.
Access the equity you have invested in your home for the big purchases in your life.
Open a line of credit with the equity you have invested in your home! Use the account for house projects, college tuition payments, debt consolidation, vacation, and more! You’ll be able to access your HELOC easily with your CMCU checking account and internet banking or the mobile app. Work with a Personal Banker to determine the perfect amount of credit you can utilize. Plus, you may even qualify for no closing costs!
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What's so special about our Home Equity Line of Credit?
A HELOC is a line of credit that is backed by the equity you have already invested in your house. So, if you have $100,000 paid off in your mortgage, you already have equity totaling $100,000!
Many people use a HELOC for home improvement projects or remodeling their house. But did you know you can use your HELOC for any large purchases? This means you can utilize your HELOC for tuition payments, buying a car, consolidating debt or a much-needed vacation!
Frequently Asked Questions (FAQ)
Eligibility and Application
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
We may also ask to see your driver’s license or other identifying documents.
*Certain restrictions may apply. CMCU will pay the closing costs except when an appraisal and full title commitment are required. If appraisal or full title commitment is required, the costs would be member’s expense. The typical cost of these services is $50-$1,500. Annual Percentage Rate = 5.25% as of 6/7/2018. APR may vary after account is opened but will never exceed 18%APR or the maximum allowed by law. Annual fee = $40. Membership eligibility and $5 share deposit are required. Borrower must maintain adequate property insurance. On approved credit. Ask for details.