Ever wonder how our 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 | Bank of America Home Equity Loan |
|---|
Loan-to-value | 100% | varies | up to 80% | Terms | 5, 7, and 10 years | 5, 10, 15, 20, and 30 years | up to 25 years | Application fee | $0 | $0 | $0 on loans of $500,000 or less | Closing costs | $0 | $0 | $0 on loans of $500,000 or less | Points | No | No | No | Early closing fee | $500-$2,000 if closed within 12 months | varies if closed within
36 months | not allowed | | Limits | $5,000-$500,000 | $25,000-$500,000 | $10,000-$500,000 |
Features current as of 03/01/10, 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.
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 List of all MECU fees 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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