Renew your home with MCU!
Get up to $500 off closing costs on first mortgages, up to $350 off closing costs on second mortgages and HELOCs, plus a $100 Menards® gift card!^
Rates subject to change at any time.
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.
Unhappy with your home?
Let our HELOCs work for you.
Change your atmosphere
not your address.
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.
- NO annual fees and NO monthly maintenance fees!
- The line of credit stays available to you for 10 years. Take as much or little as you need, whenever you need.
- Easily pull money out of it when needed and pay interest only on what you take out.
- Just cash when you need it for that kitchen remodel, educational expenses, or unexpected expense.
Plus any interest you pay may be tax deductible. Consult a tax specialist to learn more.
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.
| Real Estate/Home Equity Loans | Terms/Limits | Rates as Low as |
|---|---|---|
| Home Equity**^ | Line of Credit | 7.24% |
| First Mortgage Refinance ^^ | 10 Year Fixed Rate | 5.74% |
| First Mortgage Refinance ^^ | 15 Year Fixed Rate | 5.99% |
| First Mortgage Refinance ^^ | 20 Year Fixed Rate | 6.24% |
| First Mortgage Refinance^^ | 30 Year Fixed Rate | 6.49% |
| Second Mortgage *** | 10 Year Fixed Rate | 7.74% |
| Second Mortgage *** | 15 Year Fixed Rate | 7.99% |
| Second Mortgage *** | 20 Year Fixed Rate | 8.24% |
Home Equity Interest Form:
Thinking about using your home’s equity?
Tell us a little about your plans, and we’ll reach out to help you explore your options—no obligation!
* 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) for a HELOC 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 (LTV) ratio of 60% or less of assessed value. LTV ratio not to exceed 90%. The minimum HELOC advance is $500.
** 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. Minimum advance for existing HELOC is $500.
***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.
^^ Lowest possible rate for a first mortgage requires a loan to value ratio of 80% or less. $5,000 new money required. Other rates and terms available.
^Offer valid for applications received between 8/15/2025, and 11/15/2025. Promotion provides up to $500 off closing costs for First Mortgage loans, and up to $350 off closing costs for Second Mortgages and Home Equity Lines of Credit (HELOCs). Additionally, a $100 Menards® gift card will be given at closing. This offer does not include the cost of appraisal. $5,000 new money required for refinancing any current MCU loans. The promotion cannot be combined with any other offers or discounts and is subject to credit approval and loan program guidelines. Closing cost discounts and gift cards will be provided at closing.
Menards® is a registered trademark of Menard, Inc. This credit union is not affiliated with Menards®.
