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Home Equity Line of Credit

Going back to school to follow the dream that got away? Or is it your pricey honor to finance your daughter's wedding? You've worked hard, budgeting and saving to pay off your home. Put those payments to dual use with a Home Equity Line of Credit from Magnolia FCU.

We'll take a look at your existing mortgage payments and loan you cold cash based on the amount and length of time you've paid. The funds are easily withdrawn and there's no application fee. You'll want to go back in time just to give your young, responsible self a big hug!

Summary
  • Competitive rates for several ongoing or seasonal needs:
  • Education expenses
  • Major life events
  • Major home improvements
  • Debt consolidation
  • Emergency reserve
  • And much more!
  • The existing equity in your home is used as collateral backing
  • A wide range of terms customized to your unique situation
  • Funds available anytime without reapplying; apply once, then use repeatedly thereafter
  • Revolving credit — as principal is repaid, more becomes available for use
  • Funds easily available via in-person, by transfer via online or mobile banking to your Magnolia checking or savings account, or by phone with one of our call center representatives
  • Education expenses
  • Major life events
  • Home remodel projects
  • Debt consolidation
  • And much more!
  • The interest paid might be tax deductible*
  • Set up automatic payments to be deducted from your account monthly
  • No application fee
  • Possible tax advantages
  • Local, Mississippi decision making and processing
  • Friendly, helpful service from start to finish

*Consult a tax advisor.

Credit Protection

MEMBERS CHOICE® Credit Life and Disability Protection
There's no way to predict an injury, illness or an unexpected death, but you can take steps along the way to protect your family if the unexpected were to occur. Credit Insurance may help to make make your loan payment or reduce or pay off the loan entirely in the event of death or disability of the borrower.

Your purchase of Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. CDCL-1199678.1-0515