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| Home Improvement Loans |
Thinking of adding a swimming pool? Maybe you need a new roof or would like to add on a room for your growing family. Whatever the reason, a Home Improvement Loan from Members Plus can help you make the repairs you need, affordably. This fixed rate, low interest loan will help you enhance your home. You can borrow a maximum of $25,000.00 for up to 10 years to meet your immediate needs in a timely fashion.
Plus, we offer weekly, biweekly or monthly payments options. Payments can be made through automatic payment transfer from your savings or checking account, or by using coupon books.
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Home Improvement Loan Requirements
1. Fully executed and completed Master Application package.
2. Estimate from contractor on their company letterhead.
3. Copy of deed to subject property.
4. Copy of most recent Tax Bill with current valuation.
5. Copy of most recent mortgage statement.
6. Copy of most recent year-to-date paystub.
7. Copy of most recent W-2 form.
8. Copy of Insurance Binder listing MPCU as second lienholder.
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Fees:
$176.00 Recording Fee
$25.00 Automatic Valuation Model Fee
$10.00 Flood Certification Fee
* If property is owned jointly, both parties must sign application. Owners must be living in the house for 90 days. The maximum loan to value ratio of 90% is based upon the lesser of the assessed value or the value derived from an automatic valuation model.
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| Call 781-905-1500 to get started today! |
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