Home Equity Loan Rates

*APR's (Annual Percentage Rate) listed above are for fixed rate Home Equity Loans that meet the following credit qualifications: Rate is available with a minimum credit score of 740 to qualify (other rates available based on credit score), loan-to-value up to 85%, property and flood insurance (if applicable) are required, and property is an owner occupied primary residence. Escrow accounts may be required for payment of property taxes and homeowners insurance for all new loans, and flood insurance if collateral is located in a flood zone. Rate includes a .25% discount for automatic debit of the payment from a MCB deposit account. If automatic payment deduction ever ceases at any point, the APR (Annual Percentage Rate) may increase. In order to receive the offered rate, a minimum of $5,000.00 borrowed is required. If refinancing existing MCB debt, $10,000.00 in new money is required. Home Equity APR is calculated based on a $100,000.00 loan with a $150.00 loan origination fee and $10.00 life of loan flood determination fee. Cost of appraisal, if required, and closing fees are the responsibility of the applicant. Cannot be a purchase money mortgage. All loans are subject to approval, and other terms, conditions, and fees may apply.  Rates are effective as of publication date and subject to change or be withdrawn without notice.

Residential Mortgage Loan Rates

*Mortgage APR (Construction) is calculated based on a $100,000.00 loan with a $500.00 loan origination fee and $10.00 life of loan flood determination fee. Mortgage APR (Purchase/Refinance) is calculated based on a $100,000.00 loan with a $250.00 loan origination fee and $10.00 life of loan flood determination fee. APR's (Annual Percentage Rate) listed above are for fixed rate Mortgage Loans that meet the following credit qualifications: Rate is available with a minimum credit score of 740 to qualify (other rates available based on credit score), loan-to-value up to 97% (subject to loan parameter qualifications) and property and flood insurance (if applicable) are required, and property is an owner occupied primary residence. Escrow accounts may be required for payment of property taxes, homeowners insurance, PMI (Private Mortgage Insurance, if applicable), and flood insurance if collateral is in a flood zone. Rate includes a .25% discount for automatic debit of the payment from a MCB deposit account. If automatic payment deduction ever ceases at any point, the APR (Annual Percentage Rate) may increase. Loan-to-value over 85% requires Private Mortgage Insurance (PMI). Maximum loan-to-value for Construction Loans is 85%. In order to receive the offered rate, a minimum of $5,000.00 borrowed is required. If refinancing existing MCB debt, $10,000.00 in new money is required. Cost of appraisal and closing fees are the responsibility of the applicant. Title insurance may be required. All loans are subject to approval, and other terms, conditions, and fees may apply. Rates are effective as of publication date and are subject to change or be withdrawn without notice.

Home Equity Line of Credit

*1.99% APR (Annual Percentage Rate) introductory rate period will be in effect for 3 months. After the 3 month introductory period, the variable APR will revert to Wall St. Journal Prime with a maximum APR of 16.00%. A $10,000.00 advance must be taken at closing in order to receive the introductory rate. Borrower is limited to a one time only discounted introductory interest rate and closing cost waiver. Refinancing of MCB debt requires $10,000.00 in new money. Lines closed within 36 months of origination date will be subject to a $250.00 early termination fee. A $25.00 annual fee will apply to all lines and charged on the anniversary date of the line. Credit qualifications, maximum 89% loan-to-value, property and flood insurance (if applicable) are required. Rate is effective as of publication date and subject to change or be withdrawn without notice.

What documents you will need to to supply to MCB to apply for a Mortgage and Home Equity Loan is listed on our Mortgage and Home Equity Checklist

Refer to our Schedule of Account Fees for monthly services fees.

Still unsure which loan solution is right for you?

Simply give us a call or stop in. We're happy to help guide you through your choices based on your needs.

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