Motorola Employees Credit Union
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Adjustable Rate Mortgages (ARMs)
Fixed-Rate Mortgages
Home Equity Loan
Compare Our Home Equity Loan
Home Equity Line of Credit
Interest-Only Home Equity Line of Credit
Business Loans



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Compare Our Home Equity Loan

Ever wonder how out products compare to other ones in the market? Here's a comparison chart to help point out the ways we're a better choice.

MECU Home Equity Loan

Citibank Home Equity Loan

Chase Home Equity Loan

Loan-to-value

100%

100%

100%

Terms

5. 7.and 10 years

5, 10, 15, 20, and 30 years

3-30 years

Application fee

$0

$0

$0

Origination fee

$0

$0

$399

Closing costs

$0

$0

$0

Points

$0

$0

$0

Early closing fee

$500-2,000 if closed within 12 months

$496 if closed within 36 months

$500 if closed within 36 months

Limits

$5,000-500,000

$10,000-1,000,000

$5,000-1,000,000

Features current as of 2/18/08, and obtained from each company's website. This comparison assumes a 100% LTV home equity loan in Illinois, without any additional services such as direct deposit.

            Apply for a home equity loan
            Compare MECU's rates to the competition
            List of all MECU fees (pdf)

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Maximum Annual Percentage Rate (APR) is 18%. The credit union makes loans without regard to race, color, religion, national origin, sex, handicap, or familial status.



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MECU Rates

Home Equity Loan
rate as low as
6.00%  APR
Home Equity Line of Credit
rate as low as
3.25%  APR
Interest-only HELOC
rate as low as
3.25%  APR
› See our rates and disclosures  

Calculators

How large a line of credit can I obtain?
Should I consolidate my debts?
How much will my loan payments be?
What will it take to pay off my line of credit?
› Home Equity Line of Credit Calculators

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Savings insured up to $250,000 until December 31, 2009, and Individual Retirement Accounts are separately insured to $250,000, by the National Credit Union Administration, a U.S. Government agency. 
An additional $250,000 of coverage is provided by Excess Share Insurance.