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Other Loan Options

Looking for more than a mortgage? Consider other loan products that might be right for you.

Merck Sharp & Dohme Federal Credit Union is a full-service financial institution that has been serving its members since 1950. Like other financial institutions, they offer a full range of products and services.

Home Equity Loans

A Home Equity Loan is perfect for those who like stability and want to know where they stand financially month to month. Obtain fixed-rate loans up to maximum of 90% of your home's equity. Best of all, there are no closing costs associated with a Home Equity Loan.

  • Fixed Term of 5, 7, 10, or 15-Years
  • Fixed Rate
  • Fixed Payment

Home Equity Line of Credit

A Home Equity Line of Credit gives you the financing you need to live life without limits. Your home is a valuable resource and you can tap into the equity easily with a credit line.

  • Apply once for ten years. Use the funds as needed up to your limit.
  • Borrow up to 90% of your home's equity. The amount at which your home is valued less any loans owed on it.
  • It is a revolving line of credit. Which means you can use it over and over as you pay it down.
  • A lower rate than credit cards and many retail loans because it is secured against your home. Plus it may offer tax benefits*.
  • Draw funds only as you need them, whether it's all upfront or in increments through the years.

*consult with your tax advisor.

Personal Loans

Use a Personal Loan for vacations, furniture, a new computer, veterinary care, dental work, legal fees, credit consolidation, or whatever you may want or need. It may be your best choice for large purchases. Personal Loans are typically lower rates than credit cards because they are term loans with fixed payments over the life of the loan and not revolving credit.

  • Borrow up to $50,000*
  • Repayment terms up to 60 months
  • Use eSignature and save a trip to the branch to receive your funds

*The $50,000 limit is an aggregate of all unsecured loans (Credit Cards, Personal Loans, Easy-Access Line of Credit, etc.) and is based on your credit. The limit you may borrow could be less if you have other unsecured loans with MSDFCU.

Business Loans

Commercial and Investment Property Mortgages

  • Purchase, refinance, or expand properties
  • Competitive rates and terms
  • No prepayment penalties