Home Equity Line of Credit (HELOC)
A Home Equity Line of Credit from Mauch Chunk Trust Company lets you access the equity in your home through a revolving line of credit. Simply write a check whenever you need the extra cash over the draw period. There’s no prepayment penalty, no annual fee and no closing costs!*
When it comes to remodeling your home, consolidating debt, or making other major purchases, a Home Equity Line of Credit from MCT is a smart financing option. It offers low fixed rates, plus the flexibility of accessing your line of credit whenever you need it, up to your available credit line.
In addition to a great low rate, your credit line lets you set up Fixed-Rate Locks for $10,000 or more, up to your available line of credit. You’ll always know exactly what your payment is and as you pay off your fixed-rate lock balance, your line of credit funds become available to use again.
Your revolving line of credit has a variable annual percentage rate (APR) indexed to the Wall Street Journal Prime Rate. You can lock in segments of your HELOC loan within your approved credit limit at a fixed rate and term up to five times during the draw period.
View our current HELOC rates
*MCT pays all closing costs. If you terminate your account within 36 months of opening it, you will be required to pay an Early Closure Fee consisting of (1) a $200 base fee, plus (2) any closing fees MCT paid on your behalf. APR (Annual Percentage Rate): Will be based on the Wall Street Journal Prime, as published daily. Your APR may vary and rates are subject to change. Maximum APR is 18%. Requirements: Minimum loan amount is $10,000. Only for loans secured by the borrower’s primary or secondary residence (excluding investment properties) in Pennsylvania. Homeowners insurance is required. Subject to credit approval and underwriting standards of Mauch Chunk Trust Company.