Home Equity Lines of Credit

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If you have ongoing financing needs that go beyond a one-time loan — but don’t want to resort to your credit card — a home equity line of credit (HELOC) may be your answer. Unlike a lump sum payout, a HELOC offers a revolving source of funds that replenishes for future borrowing as you repay your balance.

Tap into your funds at any time for just about any need — from a home improvement to a family vacation — without the hassle of having to reapply every time. Let MFed work with you today — we promise a quick response from an institution that puts your needs first.

If you are already a member click the apply button to start your HELOC application. Not an MFed member yet? Join us and experience the benefits of an institution that truly empowers its members.

Touch and Go TAG HELOC

TOUCH AND GO (TAG) HOME EQUITY LINE OF CREDIT

Take advantage of the equity you have built up in your home with a low cost Home Equity Line of Credit. Allows you to use and pay for only the amount accessed while retaining the capacity to draw more funds as needed.

Miramar Federal Credit Union offers HELOCs up to $150,000* subject to maximum combined Loan to Value of 75% on single family owner occupied homes.

  • No Closing Costs**
  • Interest only payments at 3.49% per annum, fixed for the first 36 months.***
  • Extended repayments up to 300 months – 120 months draw period and 180 months repayment period
  • Equity line withdrawals from account via three convenient methods – cash, personal check, and direct transfers to your other Miramar FCU accounts.
  • Unlimited withdrawals subject to available equity line. **

*Maximum senior Lien is $750,000 **No closing costs assessed at close of loan. Closing costs of between $500-$1,000 will become due and payable if the HELOC is closed or paid off prior to the expiration of 36 months from loan funding. Borrower is responsible for applicable taxes, insurance, home owners association dues,*** Annual Percentage Rate of 3.49% will be fixed for the first 36 months of the loan, after which the APR rate will change based on the Wall Street Journal Prime Rate plus 0.50% and adjusted quarterly. The rate may not increase by more than 1% per adjustment. The floor rate may never be lower than 3.49% and the maximum APR cap is 18.00%.****Minimum draw allowed is $300. Approval subject to other credit qualification and membership eligibility with  MFCU. Available on single family, owner occupied residences. Other restrictions apply. Rates and terms as of 6/1/2016 and subject to change without notice.

Summary
  • Competitive rates for a wide range of ongoing expenses:
    • Home improvements
    • Medical expenses
    • Renovation projects
    • And much more!
  • Direct, anytime access to funds without reapplying
  • Revolving credit — when you repay, your limit is replenished for future borrowing
  • Affordable payment plans
  • Only pay interest on the part that's used
  • The interest paid may be tax deductible*
  • Local decision making and processing right here in San Diego
  • Helpful, customized service from MFed, an institution that cares

*Consult a tax advisor.

Finance your needs your way!

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