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Home Loans

Home Equity Loan or Line of Credit…

Which one to choose?

Many homeowners wonder about the benefits and differences between home equity loans and home equity lines of credit. Use either option to pay for college expenses, home improvements, debt consolidation or a much deserved vacation, or whatever need may arise. Below is a chart outlining the differences so you can choose which option is right for you!


Receive funds in lump sum

Make loan advances as
funds are needed

Interest on either type is typically tax deductible*

Borrow a specific amount
for a set period of time

Offers easy access for
unexpected expenses

Interest rates are generally lower
than other types of credit such as
personal loans or credit cards

Fixed interest rate

Variable interest rate

Funds can be used for many purposes

Regular monthly payments

Fluctuating monthly payments

Applying is quick and easy

*Consult with your tax advisor about the deductibility of home equity interest.


  • Both fixed and variable rate options
  • Finance up to 80% of the appraised value for fixed home equity loans and home equity lines of credit (minus any first mortgage loan balance) on owner-occupied dwellings up to $250,000
  • No prepayment penalties

View Rates & Terms

First Mortgage Loans

If you're purchasing or refinancing a home, think of MCCCU first.  We offer:

  • Competitive fixed and variable rates
  • Both Fixed term and Reset loans are available. Reset loans allow you to enjoy:
    • Low monthly payments because your loan is amortized over 30 years
    • An initial fixed rate for the reset term
    • A periodic cap that means your rate cannot adjust more than the stated periodic amount (and it could be lower if interest rates are lower at the time your loan “resets”)
  • Flexible repayment terms up to 30 years
  • No point and point options available
  • Low loan-to-value ratios may result in a lower rate
  • No pre-payment penalty
  • Lower fees than most competitors

Call us today for more information or to apply at (818) 238-2950.

Mortgage Loan Originators

Homeowner’s Insurance

Your home is a key part of your life. For most people it’s the biggest investment they will make in their lifetime.  The insurance specialists at Members Financial Services will guide you through the process of finding the right insurance to protect your home and your family.  They will find reliable coverage for you at an affordable price.  Our insurance partners offer competitive policy coverage and rates for home, rental, auto, boat, personal watercraft, RVs, motorcycle, and more. Give them a call (877) MEMBERS or click the Members Homeowners Insurance link below.

Trustage Insurance

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This credit union is federally insured by the National Credit Union Administration.
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