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Home Loans

Whether it’s DIY or you are hiring a contractor, home remodels are costly. Be prepared with a home equity loan or home equity line of credit from MCU.

10 yr. First Mortgage Refi

Fixed rates as low as1
3.49% APR*

30 yr. First Mortgage Refi

Fixed rates as low as1
4.50% APR*

Second Mortgage Refi

Fixed rates as low as2
4.89% APR*

Home Equity Line of Credit

Variable rates as low as3
3.99% APR*

Mortgage Refinance

Madison Credit Union can refinance your mortgage with less hassle and lower closing costs than you’ll find elsewhere!

3 Top Reasons to refinance with MCU:

  • We’ll never sell your loan. We service all loans in-house, for the entire life of the loan. 
  • You have control of your loan. You can make payments as often as you wish to pay your loan off faster. At MCU we charge simple interest, which is interest on the principle only, unlike other financial institutions that might charge compound interest where you end up paying interest on your interest.
  • Low rates, no hassle. We take the hassle out of refinancing with a straight-forward, efficient process.

Home Equity Loan

Have a project with a fixed amount? Take out a home equity loan with a fixed rate and a fixed payment plan. Sometimes called a second mortgage, there is no restriction on how to use the money. You can pay off high interest debt, pay for college, or do a remodel with a fixed price tag.

Home Equity Line of Credit (HELOC)

Have multiple projects or unsure of the final price tag? Or want to have a revolving line of credit for the unexpected? Open a Home Equity Line of Credit.

  • The line of credit stays available to you for 10 years.
  • Easily pull money out of it when needed and pay interest only on what you take out. 
  • No monthly maintenance fees. Just cash when you need it for that kitchen remodel, educational expenses, or unexpected expense.

You can take up to 60% of the value of your home with an index of only .01 from the Prime Rate published in the Wall Street Journal.

Plus any interest you pay may be tax deductible. Consult a tax specialist to learn more. 

Click for a Complete List of Mortgage & Home Equity Loan Rates

Real Estate/Home Equity LoansTerms/LimitsRates as Low as
Home Equity**^Line of Credit3.99% 
Second Mortgage ***10 Year Fixed Rate4.89% 
Second Mortgage ***15 Year Fixed Rate5.99% 
First Mortgage Refinance ^^10 Year Fixed Rate3.49%
First Mortgage Refinance ^^15 Year Fixed Rate3.99%
First Mortgage Refinance ^^20 Year Fixed Rate4.24%
First Mortgage Refinance^^30 Year Fixed Rate4.50%

* APR is annual percentage rate. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions.
1 Lowest possible rate for a first mortgage requires a loan to value ratio of 80% or less of assessed value. $5,000 new money required. Other rates and terms available.
2 Lowest possible rate for a second mortgage requires a loan to value ratio of 80% or less of assessed value. $5,000 new money required. Other rates and terms available.
3 The annual percentage rate (APR) is based on the value of an index. The index is .01 from the Prime Rate published in the Wall Street Journal with a floor of 3.99% for a home equity line of credit (HELOC) with a loan to value ratio of 60% or less of assessed value. The minimum HELOC advance is $500.

Mortgage Calculator