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Home Equity Line of Credit | Home Equity Loan

We Are Where You Are with Home Equity Options

At Centris Federal Credit Union, we’re dedicated to helping you achieve your financial goals, whether that’s debt consolidation, home renovations, or paying for unforeseen expenses. We’re in your community, living alongside you. We’re here to help you find the right home equity option.

Debt Consolidation

Home Renovations

Emergency Expenses

Dream Vacation

HELOC with Lock Option vs. Home Equity Loan

What is it?

Minimum Loan Amount

Interest Rate

Payment

Annual Fee

Intro Rate

Out-of-Pocket Fees

HELOC with Lock Option

A revolving line of credit that allows you to borrow against the line of credit up to a certain limit, make payments, and then take money out again for additional expenses

$10,000

Variable, with the option to lock in a portion at a certain rate

Variable, with the option to lock in a portion at a fixed rate and payment

$50 annually

First 12 months

Appraisel fees with potential for reimbursement

Home Equity Loan

A closed-end loan where you receive one lump sum of money with a fixed repayment term and interest rate

$10,000

Fixed

None

Appraisel fees with potential for reimbursement

Current Rates

Home Equity Loans

91-100% Loan-to-Value Financing

Term	Fixed APR
48-72 Months	As low as 11.74%*
73-120 Months	As low as 12.74%*

81-90% Loan-to-Value Financing

Term	Fixed APR
48-72 Months	As low as 7.24%*
73-120 Months	As low as 7.75%*

0-80% Loan-to-Value Financing

Term	Fixed APR
48-72 Months	As low as 4.75%*
73-120 Months	As low as 5.25%*

*Annual Percentage Rate (APR) is accurate as of Feb. 5, 2026. Federally insured by NCUA. All loans are subject to credit approval. Rate may vary based on creditworthiness, loan-to-value ratio, collateral condition and may be higher than rate listed above. To qualify for this rate, you must have $10,000 New Money. Taxes and insurance premiums not included in payment. Actual payment obligation will be greater. Closing Costs/Fees vary based on loan amount, location, and loan-to-value ranging between $450-$625. For example, a $10,000 loan for a term of 72 months with an 11.74% APR for 91-100% loan-to-value financing would have a monthly payment amount of $196.01. For example, a $10,000 loan for a term of 72 months with a 7.24% APR for 81-90% loan-to-value financing would have a monthly payment amount of $172.68. For example, a $10,000 loan for a term of 72 months with a 4.75% APR for 0-80% loan-to-value financing would have a monthly payment amount of $160.53. Programs, rates, terms and conditions are subject to change without notice. Inquire at Centris Federal Credit Union for complete terms and conditions at (800) 334-2328. Corporate NMLS 490617. Offer valid through May 5, 2026.

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Home Equity Line of Credit

Term	APR
12 Month Introductory Rate	Variable* as low as 4.25% APR
Rate After Introductory Period	Variable* as low as 7.49% APR

*VARIABLE RATE INFORMATION: The Annual Percentage Rate (APR) is accurate as of Feb. 5, 2026. Eligibility for the introductory rate requires automatic payments and must be $10,000 in new money at the minimum. The introductory rate will be in effect for 12 months. Thereafter, rates range from 7.49% to 10.99% APR and are subject to change at any time. "As low as" rate assumes excellent borrower credit history. An annual fee of $50 is due annually. The maximum APR that may apply is 18%. Closing Costs/Fees vary based on loan amount, location, and loan-to-value ranging between $450-$625. During the draw period, the lock option may be used for up to five (5) advances at any one time. Minimum lock amount $5,000. The cost to unlock each lock option is $100. Minimum amount for a home equity line of credit is $10,000. The rates may vary based on individual credit worthiness and underwriting factors. Programs, rates, terms and conditions are subject to change without notice. All loans subject to approval. Other restrictions may apply. Inquire at Centris for complete terms and conditions at (800) 334-2328. Offer valid through May 5, 2026.

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Tips from Centris Experts

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They are the one loan that can truly fit any member need. Anything that you need a home equity can fit it!

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They’ve got low rates, they’ve got really flexible payments and terms, and so many uses.

Home Equity Loan & Line of Credit Frequently Asked Questions

What is the difference between a Home Equity Loan and a Line of Credit?

A home equity loan is where you borrow a lump sum of money with a locked-in rate. A home equity line of credit is a revolving credit line so you can borrow it as you need it and only pay interest on the amount you’ve borrowed, similar to a credit card.

Is it better to get a Home Equity Loan or refinance my mortgage?

It really depends on your financial journey and goals. When you refinance your mortgage loan, your old mortgage is closed out a new mortgage loan is opened, which could mean the terms of your entire mortgage loan will change. A cash-out refinance pays out some of the equity in your home as cash resulting in a new mortgage. This may be a good option if you plan on staying in your home for longer than a year or you need a substantial sum of money for a specific purpose like a home renovation project. Using your home as collateral, a home equity loan gives you a lump sum of money from the equity you’ve built up in your home as a separate loan from your mortgage, often referred to as a second mortgage. It doesn’t have any impact to the terms of your original mortgage loan. Both options have benefits and things to consider. Talk to one of our experts to find out which option may be best for you.

Is a Home Equity Loan or Line of Credit (HELOC) a better option?

It’s best to research both a home equity loan and a home equity line of credit to find the option that makes the most sense for your situation and financial needs. A home equity line of credit is best for those instances when you aren’t exactly sure how much you’ll need to borrow or when you’ll need it whereas a home equity loan is best for the situations where you know the exact amount you need to borrow, and it would work best as a lump sum upfront. A home equity loan also gives you the peace of mind knowing your exact monthly payments and when you’ll have the loan paid off and a home equity line of credit gives you access to a revolving lower-interest credit line for varying or unexpected expenses. Schedule a meeting with one of our experts to help you find the option that best fits your needs and financial goals.

Home Equity Line of Credit

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Home Equity Loan