Husband and wife hugging in kitchen

Home Equity Line of Credit

Project-perfect financing.

Estimate Your Payment   ➤

Jump-start your home improvement projects with Mill City’s Home Equity Line of Credit (HELOC) program! This flexible, affordable borrowing option puts your home’s equity to work fast, with a low introductory rate for the first year. Then, low monthly payments and a draw period of up to 10 years give you the flexibility to access funds when you need them.

Affordable today…

  • No closing costs*
  • Low, fixed Introductory rate1 for 12 months (then converts to a variable rate plus a margin established at application)
  • Available for lines from $15,000 – $250,000
  • No minimum advance

Affordable tomorrow

  • Variable rate adjusts based on the current Prime Rate (as published in the Wall Street Journal)
  • Low payments of 1% of outstanding balance or $100, whichever is greater
  • Access your line for up to 10 years

Get a no cost, no obligation quote + get started with pre-approval

First Name: *

Last Name: *

Email Address: *

Phone Number: *

Desired loan amount (approx.): *

Preferred Contact Method:

How did you hear about us?

Ready to Apply Now?

Get approved in minutes with our simple online application (subject to standard credit-granting criteria). Or call 800-284-6328 or visit a convenient Mill City location.

Apply Now

Current Loan Scenarios

Calculate Payment

*APR = Annual Percentage Rate. Introductory rate will be fixed for 12 months; then will adjust to Prime Rate, as listed in the Wall Street Journal, plus a margin. Actual rate margin and loan approval is determined by applicant’s credit qualifications, collateral and loan terms at the time of application. Variable rates are subject to change monthly. For existing loans past their introductory-rate period, rates will adjust on the first business day of each month based on Prime as of the last business day of the previous month. The rate after the introductory period is based on Prime + -0.25% to 9.75%, with 0% APR floor and 18% APR cap. Loan rates apply to new loans or loans from other financial institutions and are not intended for refinancing of existing Mill City loans. Payment is 1% of the outstanding balance or $100, whichever is greater. No closing costs. The appraisal fee is the responsibility of the applicant regardless of whether the loan is consummated. Appraisal costs range from $75 to $600. Consult your tax advisor for deductibility options. Additional discounts do not apply. Rates and terms are subject to change without notice. Ask a credit union representative for complete details.

**LTV – Loan-to-value. This reflects the dollar amount of your mortgage loans compared to the value of the home.

Home Equity Line of Credit (HELOC) Rates APR* Introductory rate – fixed for 12 months Adjustable Rate after 12-month introductory period. APR* as low as
80% LTV** 4.50% 5.50%
85% LTV** 4.50% 6.50%

1 Rates and Payment Disclosures