National ATMsLeverage your home's equity to fund life's big moments.
HOME EQUITY LOANS
A Magnifi Home Equity Loan or Line of Credit (HELOC) offers the
flexibility you need to finance large expenses such as a home improvement project, college tuition, a
dream vacation, debt consolidation, and more.
Use the equity you have already invested in your
house to achieve your goals. It’s a line of credit you can use over and over.
Check
out our limited time offer below!
Your Home, Your Benefits
Limited-time offer! A new HELOC with intro rates as low as 4.99% APR* and no annual fee!
Tap into your home's equity for big moments - home improvements, tuition, vacations, or debt consolidation.
Your Home, Your Benefits
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Quick and Easy Access to Funds
Get the money you need when you need it.
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Competitive Rates
Magnifi keeps rates competitive and in line with the market.
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Fast Approvals
Locally issued approvals ensure a quick turnaround time.
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Payments that Fit Your Budget
Borrow when you need it to budget accordingly.
Magnifi Your Finances
Competitive Interest Rates
Your HELOC is competitively priced and adjusts with the market.
Withdraw Funds At Any Time
Withdraw funds from your line of credit at any time over 10 years. You can make additional payments to pay down the balance faster and reuse the line of credit over and over.
Access Your Funds 24/7
Access your HELOC funds 24/7 with digital banking online or the mobile app. Simply transfer funds to your checking account.
Increase Your Home Value
Use your HELOC to finance home improvements that can increase your home's value.
Frequently Asked Questions (FAQ)
A HELOC is a line of credit that is backed by the equity you have already
invested in your house.
For example, if you have paid down your mortgage loan
and/or the value of your house has increased, you can tap into those funds.
- You can submit an online application; if you’re a new member, you’ll also need to fund a $5 Membership Share account. Learn more
- Fill out the application, and we’ll work with you on how much you’re eligible for or want to borrow.
- We’ll quickly contact you to close your new HELOC.
After you close on your HELOC, you can quickly access your line of credit 24/7 on digital banking or the mobile app. Simply transfer the funds you need to your checking account so you can use your debit card or paper checks.
HELOC Rates
Effective Date 03/20/2025
Promotional HELOC Rates
| HELOC up to 80% LTV Credit Score | First 12 months, APR as low as |
After 12 months, APR as low as |
|---|---|---|
| Credit Score 760+ | 4.99% | 7.25%* |
| Credit Score 720-759 | 5.99% | 7.50%* |
*APR will vary with the market based on the Prime Rate. Promo HELOC rates after the 12-month intro period are calculated based on the Wall Street Journal (WSJ) Prime Rate, currently 7.50%. Credit score of 760+ = Prime - 0.25. Credit score of 720-759 = Prime.
APR = Annual Percentage Rate. Offer valid for applications received January 1 – April 30, 2025, and is subject to change without notice. APR may vary after account is opened but will never exceed 18% APR or the maximum allowed by law. Rates are based on credit history, loan-to-value, and other factors. HELOC loan amounts range from $10,000 to $125,000, with at least $10,000 in new loan proceeds with Magnifi. LTVs above 80%, non-primary residences, commercial, agricultural, large acreage properties, and/or credit scores under 719 are not eligible for this promotion. Members may be required to pay up to $499 towards closing costs, which does not include expenses related to property taxes, homeowner’s insurance, prepaid interest, and fees for a potential subordination agreement. Other restrictions may apply. All loans subject to approval. After the 10-year draw period, the amount owed will be repaid over 10 years. Membership eligibility and $5 share deposit are required. See your tax advisor for details regarding interest deductibility.
Standard HELOC Rates
| Home Equity Line of Credit | APR |
|---|---|
| HELOC - 80% Loan-to-Value | 7.25% |
| HELOC - 90% Loan-to-Value | 8.75% |
The typical cost of an appraisal or full title commitment is $50-$1,500 which would be the member's expense. Minimum Annual Percentage Rate = 7.25%. APR may vary based on credit score and loan-to-value ratio. APR may vary after account is opened but will never exceed 18% APR or the maximum allowed by law. Membership eligibility and $5 share deposit are required. Borrower must maintain adequate property insurance. On approved credit. Ask for details.
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Let's Meet
Schedule an appointment with a local team member to meet in person or virtually.
Schedule a Meeting
Current Members: Apply through digital banking
Other Loan Options
Join the Magnifi Family!
At Magnifi, you're not just a member-owner of an award-winning credit union, you become part of the Magnifi family and receive all the benefits and perks you need to succeed financially.
