Home Equity Line of Credit

Put your home's equity to work

with a Home Equity Line of Credit from Central One Federal Credit Union.

A home equity line of credit (HELOC) is an open-ended line of credit in which your home serves as collateral.
Similar to a credit card, you can borrow what you need, as you need it, until you reach your credit limit.

Today's rate is as low as 3.25 % APR*

Apply Online Today!

Benefits of a Home Equity Line of Credit

  • Borrow up to 80% of the appraised value of your home or 70% of the tax-assessment value(Minimum line amount of $7,500)**
  • Only pay interest on the funds you borrow
  • Variable interest rate starting as low as Prime minus 1%*
  • 10 year draw period, followed by a 20 year repayment period
  • Rate only adjusts once per year, on the 15th of the month in which the line was opened, even if Prime goes up!*
  • Interest may be tax deductible (consult your tax advisor)
  • No closing costs for properties within Worcester County, (except appraisal and title search if required)***

Best Uses of Your Home Equity Line

Consolidate Debt: Pay off high-interest credit card balances, student loans or other expenses.

Pay for Home Improvements: Use the funds to increase your home's value and your living experience.

Child's Education Expenses: Reduce your child's student loan burden with a lower rate HELOC.

Financial Protection: Sleep soundly knowing you have access to cash when you need it.


Apply Online

or  Call 800-527-1017

Why Choose Central One?

Central One is a not-for-profit federal credit union owned by our members. Learn More

Your rate can only adjust once per year, even if Prime goes up multiple times.

Lending decisions are made locally and your account is never sold to the big banks.

Only pay interest on the funds you borrow.

We offer affordable Credit Disability Protection that covers you in case of involuntary unemployment, disability or death. Only pay for the protection on funds you borrow, not on the line itself.


Ready to Apply?

Call a Loan Specialist at
800-527-1017
Visit your
local branch



Home Equity Line of Credit (HELOC) Disclosures:

*Variable interest rate as low as Prime minus 1%.  Floor rate is 3.25% APR. The Prime Rate is published by the Wall Street Journal; the current Prime rate can be found at the WSJ website. Rate adjustment occurs once per year during month of account anniversary month. Max APR is 17.5%. Actual rate will be determined based on credit history, term, loan to value and other factors.  Minimum line amount of $7,500.  Flexible payment terms of up to 30 years.  Interest may be tax deductible (consult your tax advisor).

**Home must be owner-occupied or second home.  Borrow up to 80% of the appraised value of your home less first mortgage balance or 70% of the tax-assessment value less first mortgage balance. 70% is the maximum loan-to-value on condominiums, less first mortgage balance. Only pay interest on the funds you borrow.   

***No closing costs for properties within Worcester County with loans of $250,000 or less (except appraisal and title search if required).  Any loan amount over $250,000 will require an appraisal. Title search fees may apply for properties outside of Worcester County or properties obtained through a foreclosure deed. Property and flood insurance may be required. 

Other restrictions may apply. All loan programs, rates, terms and conditions are subject to change. C all a lending specialist at 800-527-1017 for more information.