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Transform, Transition, or Treat Yourself to a New, Improved Home 

Have you been thinking about making some changes to your home? Remodeling or renovating your home has never been easier with a Home Equity Loan from Mid Minnesota Federal Credit Union. We have many great options to choose from, including our Traditional Home Equity Loan, Home Equity Line of Credit and Property Improvement Loan.

Did you know the equity in your home can be used for home improvements, college tuition, debt consolidation, a vacation... virtually anything? It’s true! And, with three unique options, we have one that should fit nicely. 

Traditional Home Equity

The Traditional Home Equity Loan allows borrowers to lock into a fixed rate. You can borrow against the equity in your home for any reason -- not only home improvements -- and enjoy tax-deductible interest!

Click here for current rates or payment information.

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Home Equity Line of Credit (HELOC)

If you need more flexibility in your borrowing, our Traditional Home Equity Line of Credit (HELOC) may be a better fit. Similar to a traditional home equity loan, the HELOC gives you access when you need it and you only need to pay monthly payments based on your balance after advances. The HELOC is a variable rate program. 

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Interest ONLY Home Equity Line of Credit (HELOC)

If you like the Traditional HELOC, but want to make smaller payments, MMFCU also offers an *Interest-Only Home Equity Line of Credit. It offers the same great features as the Traditional HELOC, but with smaller payments because borrowers are only required to pay the monthly interest due based on the balance. It is important to note that interest only payments will not pay off the amount borrowed, therefore a balloon payment will result. 

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Property Improvement Loan

Are you wanting to increase the value or equity of your home? Our Property Improvement Loan is a great option. You can build a shed, construct a deck, remodel the kitchen, pave the driveway or fix the roof with a loan that fits your needs. 

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For more information about everything related to home loans, from the basics, to current rates, to purchasing or refinancing, visit our convenient and educational Home Loan Center. We’ve pooled together resources and information and condensed it all into one, centralized location. It has all the best resources you need to make your home dreams come true!

You can apply for any of our home improvement loans online, at one of our convenient locations, or over the phone. No matter where you are in your financial journey, you can lean on us to help you build the best future for you. Your dreams are within reach!

Protection Services

For just a few pennies a month, you can rest assured your purchase is protected. Mid Minnesota offers several Protection Services designed to give you peace of mind. That makes sense, and cents!

Equal Housing Lender. Subject to credit approval. Consult your tax advisor about options that are deductible. See rates page for current rates. The HELOC is a variable rate product based upon the Prime Rate. The maximum HELOC rate is 18.0% APR. Home equity programs may be subject to nominal closing costs of approximately $150 per $20,000 borrowed.