Home Equity Line of Credit - Century Federal Credit Union
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Home Equity Line of Credit (HELOC)

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Home Equity Line of Credit (HELOC) with a Fixed Rate Lock Option

What is Home Equity?

Home equity is the appraised value of your home minus any outstanding mortgage or loan balances that is secured by the property. In most cases, home equity builds over time as you pay down your mortgage balance or complete home improvements that add value to the property. Home equity is an important asset for homeowners since it can be used to open a home equity line of credit.

How Does Home Equity Work?

Whether you’re looking to free up cash for a home renovation or find ways to consolidate debt, borrowing against the value of your home could be an economic friendly option. While you’re paying your mortgage, you build equity that you can use to open a home equity line of credit (HELOC). Using the equity in your home to open a home equity line of credit provides homeowners with a flexible financial tool that can be used for expected and unexpected life events. The more you pay toward your mortgage each month, the greater chance you have at rapidly increasing your available equity.

If you’re considering using your home’s equity, consider the following:

  • Calculate your equity. Subtract your mortgage balance from your home’s current market value. To get an estimate of your home’s current value, use the Mortgage Equity Calculator tool.
  • Consider the benefits of a home equity loan. Century Federal Credit Union’s Home Equity Line of Credit (HELOC) with a Rate Lock Option: Lock in a fixed rate when you draw on your line of credit for up to 10 years!1
  • Consider the alternatives. Let the Home Team guide you toward personal loan options or other debt consolidation alternatives with Century Federal.
With a Century Federal HELOC:
  • Borrow and lock in a great rate on your credit line up to 3 times during the draw period
  • Fixed Rate Lock Options for terms up to 10 years/120 months
  • Easily transfer funds from your HELOC to your Century Federal Checking or Savings accounts through our Online Banking system or by visiting any Century Federal branch.

Contact the Home Team

Calculate Your Loan Payments

Cruise into Savings

For a limited time, when the Century Federal Home Team helps you cash in on your home’s equity, you will automatically be entered in a drawing for the chance to win a five (5) day, four (4) night luxury cruise for two (2) people2 to Mexico, the Bahamas, or the Western Caribbean!

Not ready to cruise just yet? No problem! You'll have 18 months to go on your cruise vacation.
Don’t miss the boat. Cruise in to Century Federal Credit Union today!


  • Must draw a minimum of $10,000 to qualify for Rate Lock Option
  • Must draw a minimum of $10,000 to qualify for entry into cruise giveaway 

Cruise Information



2Promotional period is 4/1/2022 – 5/31/2022. To qualify for the cruise giveaway, line of credit must be booked by 5/31/2022. Must be 18 years of age or older to participate. Must be a member in good standing to qualify. Terms and conditions are subject to change at any time. Additional criteria may apply. Offer of credit subject to credit approval. Minimum draw of $10,000 required. Draws in the amount of $10,000 and more will qualify 5-day/4-night cruise certificate giveaway for two persons. ($50 rate lock fee applies.) Upgrades available at additional cost to member. Tax and port fees not included. Cruise certificate must be registered with Pacific Coast Travel within 45 days of receipt. Cruise must be completed within 18 months of loan signature date. Full terms and conditions listed on each certificate. Employees of the credit union are not eligible. A total of four (4) Cruise Certificates will be awarded. 

For cruise package FAQs, click here.