Home Equity & Home Equity Line of Credit

Home Equity Loans

A home equity loan allows you to borrow money by using the equity in your home as collateral. A home equity loan from MCT comes with a fixed rate, so always know your monthly payments. Home equity loans give you a simple option for home improvement projects or unexpected expenses.

Take advantage of our great rates and flexible payment terms, including the option to enroll in automatic deductions.

Low-to-Moderate Income Option Available: MCT’s Community Advantage Home Equity Loan is designed to help low-to-moderate income individuals with flexible financing options to make obtaining a home equity loan more accessible. Different from other conventional loans, MCT’s Community Advantage program offers more lenient credit and income guidelines. Learn more here.

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Home Equity Line of Credit

How does it work?

• Borrow a pre-determined limit of money as you need over time with a revolving line of credit.
• Only make payments on amount you borrow
• MCT advantage: option to carve out any amount and convert it to a fixed rate, up to your available line of credit.
• There’s no penalty for prepayment, no annual fee and no closing costs!*

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 at a variable rate. 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 for lines under $250,000*. For lines over $250,000, title insurance is required to be purchased by the borrower(s).

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.

MCT Advantage: Carve out any amount and convert it to a fixed rate, 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.

* MCT pays all closing costs, with the exception of title insurance fees. For lines over $250,000, title insurance is required to be purchased by the borrower(s). 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.