The University of Michigan Credit Union is a home equity loan from University of Michigan Credit Union. The ongoing APR is 7.75% - 14.00% APR (10 year); 8.25% - 14.50% APR (15 year). Typical credit limit: Borrow up to $750,000 (investment property up to $49,900); up to 95% of your home's equity less any current mortgage balance. Loan terms: Fixed loan term: choose from 10 or 15 year terms.