Money to make home your happy place.
Your home provides you with a safe, comfortable place to live. It can provide you with financial benefits as well. The equity you've built up can unlock low-cost loans that may be used to cover repairs, additions, big-ticket purchases, family celebrations, college tuition - and pretty much anything else you can think of.
Home Equity Loan
- Get funds in one lump sum
- Maximum loan size depends on your home's equity
- Competitive, fixed interest rates
- No prepayment penalty
- Home Equity Loan interest may be tax-deductible; consult your financial advisor
HELOC (Interest-Only)
- Line of credit you can access as often as you would like for any purpose
- Access funds through special checks, digital banking tools, or at MAX branches
- 4.50% introductory APR** variable rate after that
- The monthly payment is interest-only
- No prepayment penalty
- Initial draw period is 5 years and can be renewed annually thereafter
- Repayment period is 15 years and runs concurrently with the draw period
- Must have an initial draw of $10,000 and maintain a minimum balance of at least $10,000 for the first 18 months for MAX to cover closing costs*
- The minimum annual percentage rate will be the "current" prime rate with a floor rate of 4.00%
HELOC
- Loan funds you can access as often as you would like for any purpose
- Access funds through special checks, digital banking tools, or at MAX branches
- Minimum monthly payment is 1.50% of current principal balance
- No prepayment penalty
- Initial draw period is 5 years and can be renewed annually thereafter
- Repayment period if 15 years and runs concurrently with the draw period
- Must have an initial draw of $10,000 and maintain a minimum balance of at least $8,200 for the first 12 months for MAX to cover closing costs*
- Maximum rate change of 1.00% per monthly cycle
- The minimum annual percentage rate will be the "current" prime rate plus any applicable margin, with a floor rate of 4.00%
Speak to a Mortgage Specialist at 334-260-2600, Mon-Fri 8AM-5PM CST
* MAX will cover up to $1,000 in closing costs for HELOCs. Customers are responsible for any remaining closing costs. Certain restrictions apply.
** APR=Annual Percentage Rate. Promotional rate on interest-only HELOCs of 4.50% APR for the first 6 months of the loan. APR for all transactions and balances will be based upon your contracted rate which will be a variable rate based upon The Wall Street Journal prime rate which was 8.25% as of 5/3/2023, but will never be more than the maximum APR (Annual Percentage Rate) of 18% or less than 4.00%. This is a variable rate loan. Your loan has a balloon payment. At the end of the loan term, any balance remaining will have to be paid. Most consumers with a balloon note refinance their loan before the final balloon payment becomes due. A minimum outstanding balance of $10,000 must be maintained for the first 18 months on interest only HELOCs and $8,200 for the first 12 months on regular HELOCs to avoid closing costs. Closing costs may range from $115-$1150. This convenient line of credit is available when you need it. Home owners insurance required. For qualified borrowers, certain restrictions apply.
For qualified borrowers. Certain restrictions apply. Equal Housing Lender.
MAX Credit Union is a full-service financial institution serving Central and East Alabama, including Montgomery, AL; Auburn, AL; Opelika, AL; Prattville, AL; Wetumpka, AL; Tallassee, AL; and Troy, AL.
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With products and services to fit every lifestyle and life stage, we are ready to help you manage and grow your money with ease.

Nothing wrong with a little extra cash.
Personal Loans that are designed with your interests in mind. We can help you reach goals, build credit, and achieve dreams.