Harness the power of your home's equity to accomplish your goals!
You've worked hard to build equity in your home. Why not put that equity to work to make your dreams come true? Whether you're looking to build a new deck for family cookouts, turn the unfinished basement into a home theater room, or need a new driveway, a fixed-rate home equity loan from EMUCU helps you achieve your goals!
Learn more about what is best for your home equity loan needs.
Learn more about what is best for your home equity loan needs.
When you want to borrow money, there are two options: an unsecured loan or a secured loan. "Secured" means the funds are backed by collateral - in the case of a home equity loan, the collateral is your home. Unsecured loans, like credit cards, are not backed by collateral, and therefore interest rates tend to be higher.
Home equity loans allow you to borrow from the equity in your home. Equity can come from the amount you have paid down on the loan, or the change in value over time. Equity is defined as the difference between the value of your home, and what you owe.A home equity loan is a flexible loan that uses your home's equity to finance other things. Common reasons members take out home equity loans include home renovations, educational expenses, and debt consolidation. A home equity loan with UMCU provides you access to various benefits.
1Remote closing is optional but it comes with a $160 fee.
2To determine the equity in your home: it is the Appraised value x 95% less any current mortgage.
3Subject to credit approval; normal credit standards apply. Additional limitations, terms, and conditions apply, and are subject to change without notice. Rate will vary based upon creditworthiness, loan term and combined loan to value. APR as low as 7.75%. Maximum APR is 14.50%. APR as of 03/12/2026, subject to change. A sample fixed home equity loan monthly payment based on $25,000 at 7.75% APR for 10 years is $300.03. For loans secured by a first lien payments do not include taxes and insurance, therefore, the actual payment obligation will be greater. Property must be located in Michigan. Property insurance required. Flood insurance may be required. $5 membership required if not a member. Contact EMUCU at 800-968-8628 or visit emucu.org for more information about credit costs and terms. NMLS #712343.
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