Home Equity Loans & Lines Of Credit

The Money You Need Now

Borrowing against your home's equity is an easy way to use the investment you've already made to access funds for large expenses, things like renovations, repairs or even college tuition. Whether you're repairing your home's roof or renovating your master bathroom, MAX provides Home Equity Loans and Home Equity Lines of Credit to help you finance your needs.

Flexible Funds

A MAX home equity line of credit is an open-end loan, so you can advance anytime during the loan, and qualified borrowers enjoy no closing costs and no annual fees.*

*Certain restrictions apply.

Ways to Draw

Make a transfer via MAX Online or Mobile Banking
Call our myMAX Service Center at 334.260.2600 or 800.776.6776
Visit one of our convenient branches

Use our Calculators to help plan your next step.

Speak with a knowledgeable MAX financial consultant about how you can harness the power of your home's equity.

Jennifer Wadsworth , MAX Sales & Service Manager NMLS 681882

Compare Features

Headings	Home Equity Line of Credit (Interest Only)	Home Equity Line of Credit
How To Apply	We make it simple. You can apply online, call the myMAX Service Center, or visit the branch location most convenient to you!	We make it simple. You can apply online, call the myMAX Service Center, or visit the branch location most convenient to you!
Benefits	The MAX Home Equity Line of Credit is an open-end loan, so you can advance anytime during the loan. MAX also issues checks for the loan.	The MAX Home Equity Line of Credit is an open-end loan, so you can advance anytime during the loan. MAX also issues checks for the loan.
Rate Structure	Variable rate	Variable rate
Product Features	Revolving line of credit secured by equity; Advance against the loan	Revolving line of credit secured by equity; Advance against the loan
Product Features	The length of the draw period is five years and may be renewed annually thereafter. The length of the repayment period is fifteen years and runs concurrently with the draw period.	The length of the draw period is five years and may be renewed annually thereafter. The length of the repayment period is fifteen years and runs concurrently with the draw period.
Prepayment	No penalty	No penalty
Closing Cost	MAX will cover all closing costs as long as an initial $10,000 advance is made and a $10,000 balance is maintained for 18 months	Member must maintain a minimum balance of at least $8,200 for the first 12 months for MAX to cover fees.
Access to Funds	You can access your line of credit via myMAX Online & Mobile Banking, MAX branch locations, JennyMAX®, and/or checks.	You can access your line of credit via myMAX Online & Mobile Banking, MAX branch locations, JennyMAX®, and/or checks.
Payment Calculations	The monthly payment is interest only.	The minimum monthly payment is 1.5% of the current principle balance.
Late Charge	The late charge is 5% of the payment due.	The late charge is 5% of the payment due.
Billing Cycle	The sixth (6th) of each month to the fifth (5th) of the next month.	The sixth (6th) of each month to the fifth (5th) of the next month.
Minimum Rate Change	Maximum of 2% on initial rate change after special rate period, then 1% monthly thereafter	1% per rate change cycle
Minimum Annual Percentage Rate	The minimum annual percentage rate will be the "current" prime rate with a floor rate of 4.00%.	The minimum annual percentage rate will be the "current" prime rate plus any applicable margin, with a floor rate of 4.00%.
What You Should Know About Home Equity Lines of Credit » For qualified borrowers. Certain restrictions apply. Equal Housing Lender.