PRIME LINE HOME EQUITY

Primeline Home Equity Line of Credit offers a simple way to access the equity in your home and will save you money over other equity loan offers. When your Primeline is approved, you’ll receive a Gold MasterCard™ to allow easy access wherever MasterCard™ is accepted. You can borrow against the available equity in your home and you’ll enjoy rates as low as Prime.

Use our Financial Calculators to determine how much you could qualify to borrow.

Apply by calling 901.385.5200, visit one of our local branches or for preapproval Click here to complete a loan application form online.

Prepare the following information beforehand to save time in your application process:

• Personal information for everyone on application
• Income amounts from your job and other sources
• Balance owed on current mortgage(s)
• Estimated market value of you home

To make the application process go as smoothly as possible, start gathering the following documents to submit with your application:

• Last two paycheck stubs.
• W-2s for the last two years
• Detailed delinquency letter explaining all derogatory credit.
• If self-employed, signed and dated tax returns for the last two years (including all schedules) and current profit and loss statement.
• Rental Income: signed and dated tax returns including all schedules for pervious two years and current signed and dated lease agreements.
• Documentation supporting all types of income to be considered for this loan: Child Support (case number), Alimony, Social Security, Pension etc.
• Bonus and Commission Income. (Provide annual amounts for previous two year period)
• Current Homeowners Insurance policy.

If you are unsure which mortgage products fit your needs, talk with one of the experienced employees in MATCU’s Mortgage Lending Department online or call (901) 385-5200 or (800) 532-9025.

Prime Rate is as of January 21, 2010 at 3.25% APR. Rate is subject to change without notice. Memphis Area Teachers' Credit Union has a floor rate of 4.00% APR. APR=annual Percentage rate. An interest rate floor is the minimum interest rate possible for an adjustable rate mortgage.