Home Equity Line of Credit (HELOC)

Home Equity Line of Credit


Now is the perfect time to use your home’s equity to consolidate debt, remodel your home, make home repairs, install a swimming pool, pay college tuition and more.  You have worked hard to build up the equity in your home, so why not put it to good use.   

We offer Home Equity Lines of Credit with variable and fixed rates:


  • Borrow up to $300,000 – First place lien
  • Borrow up to $100,000 – Second place lien  
  • Variable rate HELOC - 3.50% APR* Initial discounted rate for 36 months** and variable thereafter
  • Fixed rate HELOC - 6.35% APR* for 180 months
  • Repayment term – 15 years for variable and fixed rates
  • Borrow up to 90% of your home’s appraised value 
  • Draw on HELOC limit up to 5 years
  • May be tax deductible***

Apply today for a Home Equity Line of Credit


*APR = Annual Percentage Rate. 

**For Variable Rate HELOC:

The initial discounted rate will be in effect for the first 36 months.  Thereafter, the APR will be based on the prime rate plus 2%.  The prime rate is the highest prime rate published in the Money Rates Table of the Wall Street Journal on the last business day of each quarter.  Prime is a variable rate; the APR on your account may change annually.  However, the rate will not increase or decrease more than 1% per year.  If the initial discounted rate was not offered, the regular APR that would apply is 6.75% APR.  The maximum APR that can apply is 12%.  The present APR of 6.75% is current as of February 1, 2020. 

For Variable and Fixed Rate HELOCs:

Credit is subject to approval.  The minimum line of credit amount is $ 5,000.  The minimum amount required for the first advance is the total amount of the closing costs; there is no minimum advance amount thereafter.  Closing costs vary up to $4,000.  Flood and/or property hazard insurance may be required.  Other restrictions may apply.  Programs, rates, terms and conditions are subject to change without notice.  

***Please consult your tax advisor regarding the deductibility of interest and charges.  


Central Credit Union of FL NMLS# - 729868


Equal Housing Opportunity Logo

Serving Members

Since 1962