Use your home's equity for good.
M1 offers two great ways to use the equity you've already put into your home – find out which is best for you!
Why use your home's equity?
You've already invested in your home – now, it's time to cash in.
Lower rates
Than typical personal loans
Flexible access
To your funds over time
Use as needed
Cover expenses like home reno, additions, debt consolidation, and so much more.
HomeFix
A traditional, fixed-rate home equity loan designed for members who prefer predictable payments and a lump-sum disbursement. This option is ideal for large, one-time expenses like home renovations or debt consolidation.
HomeLine
A flexible, revolving credit line that allows members to borrow as needed, ?up to a set limit. This option is best suited for ongoing or unpredictable ?expenses, offering convenience and control over borrowing.
How it works
? Apply – Fill out an application online or in person. Our lenders will work with you to help you understand your home’s equity.
? Get your results – If approved, you’ll receive a credit limit based on your equity.
? Withdraw + Spend Funds – Once approved and your line of credit is accessible, you may begin to withdraw funds – and then spend them on whatever you need.
? Repay – When it comes time to repay, you can set up a payment plan or repay in one lump sum. You’ll only pay interest on the money you withdraw – not the entire limit.
What our members say
"Great credit union and super friendly staff. Always there to help with you."
Tiffany D.
Member
"The people that work here are awesome! Very personable and you feel like family. Could not be happier with this small town feel with big city offering credit union."
Edward H.
Member
"I've have been a member for 25 years. They have always been very helpful! I wouldn't dream of leaving Michigan One!"
Joanne B.
Member
Frequently Asked Questions
Get answers to common questions about M1 home equity loans & HELOCs
What is a line of credit?
A line of credit (in this case, called a HELOC) is a revolving line of credit that lets you borrow against the equity in your home, similar to a credit card.
How can I use the funds from a Home Equity Loan or HELOC?
You can use Home Equity funds for anything—common uses include home renovations, debt consolidation, education expenses, or emergency costs.
How is HomeFix different from Homeline?
Unlike a lump-sum, HomeFix home equity loan, a Homeline HELOC offers ongoing access to funds during a draw period, and you only pay interest on what you use.
What are the repayment terms?
Most HELOCs have a draw period (often 10 years) followed by a repayment period where you repay both principal and interest.
Bank where you're known with M1
We're here for every Michigander with friendly, local service, financial expertise, and resources that make a real difference in your daily life.
? Better rates – We're not-for-profit, meaning more of your money stays right in your pocket.
? Better service – Unlike big banks, we're all local and ready to help.
? Better community – Your finances are a big part of daily life. Keep it local with M1!