Home Equity & Home Improvement Loans

Home Equity & Home Improvement Loans

Home Equity Rates

Using the Equity in your Home

Use the equity in your home to borrow from Milford Federal at preferred rates. Proceeds of these loans can be used for any purpose (a new roof, a second car, college education or a long overdue vacation). Interest is often tax deductible (applicants should check with their tax advisor).

Home Equity Loans

Loans offering attractive fixed rates for the life of the loan are available. Terms are available from 1 year to 20 years. Ideal for the home owners with immediate cash needs who want the comfort and convenience of fixed monthly payments.
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Home Equity Lines of Credit

A home equity line of credit (HELOC) is an open-ended loan secured by your home’s equity. A line of credit allows you to borrow again and again as needed, without reapplying. Interest is charged only on the amount you actually borrow with our revolving home equity line of credit. Simply write a check or transfer money to your Milford Federal checking account to get the funds you want and pay it back in monthly installments (of course, extra principal payments can be made at any time).
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Home Improvement Loans

Milford Federal can help you add value to your home with a new kitchen, an addition or simply new paint and wallpaper with a quick and easy financing program tailored to your specific needs. Terms on secured home improvement loans to $150,000 are available up to 20 years. If you need additional information, please contact us, or stop in at any of our four banking offices.

Learn more about our Home Improvement Loan Rates!