Home Equity Loans and Lines of Credit for Smarter Borrowing
Need to borrow money for a big-ticket item like a renovation project or a special anniversary trip? Use your home and its equity to access a cost-effective home equity loan or line of credit. With competitive rates and repayment terms, you can save money on interest payments and get the fees refunded based on qualification.*
Home Equity Loan
Borrow a lump sum amount to pay for a large one-time purchase. Our home equity loan is available for up to 100 percent of the appraised value of your home with terms ranging from one to 10 years.
Home Equity Line of Credit
Another way to access the equity in your home is with a home equity line of credit (HELOC). It allows you to borrow a set amount, and then withdraw money as you need it. You have up to five years to access the funds and up to 10 years for repayment. Interest accrues only on the amount you use, not necessarily on the entire line of credit.
Qualifying HELOCS have a .99% introductory APR for the first 12 months with a variable rate as low as 5.00% APR thereafter**. With manageable payments, HELOCS provide immediate access to money when you need it.
Rates may vary based on individual creditworthiness, term of loan and underwriting factors. Subject to credit approval. *Loan must disburse at $20,000 or higher new money to Centris to be eligible for refund of fees. Fees that are eligible for a refund include: appraisal, title search/insurance, flood and filing fees. Fees will be refunded directly to the member or credited to the principal balance of the loan; however they were paid to Centris. Programs, rates, terms and conditions are subject to change without notice. Inquire at Centris for complete terms and conditions at (800) 334-2328.
**The Annual Percentage Rate (APR) is accurate as of April 26, 2019 and may vary quarterly. The APR is based on the Wall Street Journal Prime Rate. The introductory rate will be in effect for 12 months. Thereafter, the APR will be based on the prime rate plus a margin of up to 2.00%. The maximum APR that may apply is 18%. Loan, fees and closing costs may vary between $400-$500. Minimum loan amount for home equity and/or home equity line of credit is $1000. $5000 new money required to receive the introductory rate of .99% on home equity line of credit.
