M&F Bank home equity lines of credit (HELOCs) are subject to credit approval under the M&F Bank underwriting guidelines including qualifying lines with certain loan-to-value, debt to income and other underwriting criteria. Certain other conditions and restrictions such as repayment selections, lien position, line size, closing costs and other loan guidelines may apply. Annual Percentage Rate (“APR”) shown below is available as of December 11, 2025, to well qualified applicants for variable rate lines of credit in the amount of $20,000 to $250,000 secured by single 1-family owner occupied residential property. This promotion applies only to new lines of credit and is available for single family, owner occupied, primary residence only; excludes investment property, second and vacation homes, condos and residential lots. Annual Percentage Rate is Prime + .50% or 7.25% APR. To receive this rate, you must take an initial draw at closing from the new line of credit of greater than or equal to $20,000. Each HELOC is subject to a 10-year draw period followed by a 10-year repayment period. Prime rate is a variable rate based on the US Prime Rate published on the first day of each month in the Eastern Edition of the Wall Street Journal. As of December 11, 2025, the Prime Rate is 6.75%. The minimum line size associated with this rate is $20,000, and the maximum line size associated with this rate is $250,000. You are eligible for a rate reduction of 1/8% if payment is set up on automatic draft from an M&F Bank checking account. The maximum APR that can be charged is 16%. Your APR may be higher based on the prevailing variable rate index value. Property insurance and flood insurance where applicable may be required. Closing costs and other fees are estimated to range from $400 to $1,500, depending on the amount of your line. M&F Bank will pay all closing costs not to exceed $1,500 for lines up to $250,000. The combined loan-to-value or LTV ratio (that is the ratio of the debt secured by your residence (including the new HELOC) to the value of that residence) must not exceed 85%. Offer may be withdrawn at any time without notice. Approval is subject to credit qualifications. Consult with a tax advisor to determine whether the interest you pay is tax deductible.
