Home Equity Line of Credit
A Home Equity Line of Credit from Members Source Credit Union allows qualified borrower’s to use the equity in their home* to establish a line of credit.
For additional information, please call our loan department at 219-756-4141 or 800-260-5183.
- Borrow up to 80% of appraised value of the home*(less first mortgage)
- Unlimited number of advances from available balance
- Funds may be advanced for up to 120 months
- Can be used for any purpose
- May be tax deductible
*Home shall be secured by a mortgage lien on an owner occupied single family home, condominium, townhouse, or duplex, provided the home is the borrower’s primary residence and is located with the areas defined in the credit union’s loan policy. Rental property, mobile homes, and seasonal homes are excluded.
NMLS # 487142