Home Equity Loan

Use the Equity in your home to pay off debt, do home improvements or refinance your home. We have fixed home equity options or line of credit home equity options that let you pay down and then kick it back in when you need it.  Apply today!

You've worked hard for your home. Now let your home work for you. Whatever the reason why you need additional liquidity, a home equity loan is a good source.

as low as
Closed End Home Equity
Max Term 15 yrs or 30 yr amortization with 15 year balloon
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Prime Gold Home Equity
equal to or less than 80% LTV, Prime 4.00% floor of 4.00%
8.500% Rate tied to Prime
Prime Plus Gold Home Equity
greater than 80% LTV, Prime 4.00%, floor of 4.00%
9.250% Rate tied to Prime + .75%
MasterCard Gold Home Equity
equal to or less than 80% LTV
MasterCard Gold Home Equity
greater than 80% LTV
*APR=Annual Percentage Rate. Rates may change at any time. Must meet FCU's normal underwriting qualifications to be approve. Contact FCU for more information. Loan rates and approval subject to credit score and analysis. A loan application fee applies and is included in the APR calculation for closed-end home equity loans. Equal opportunity lender. For HELOC no fees charged up front and fees are disclosed at time of application. As part of the closing procedures Frankenmuth Credit Union will acquire a security interest in the property. Draws are allowed for 20 years or as long as the account remains open and member is in good standing. Payment in calculated on 1% of the balance or $25, whichever is greater. HELOC rates are variable and based on the current index margin; rate floor is 4.00%APR and will not exceed 25%APR.

Effective Date: June 13, 2024

APR=Annual Percentage Rate. Contact us for more information. FCU Mortgage rates are subject to change at anytime and published rates only given a ball park of what current rate offerings are. To get a specific rate for your individual situation, please contact our Mortgage Department at 989-497-1600.

Neighborhood Mortgage Solutions is a Mortgage Credit Union Service Organization that is partially owned by Frankenmuth Credit Union.