As house prices continue to rise, home equity loans are an affordable and accessible source of cash. One in four homeowners with a first mortgage are considered “equity rich1” — meaning as your home increases in value and you pay down your mortgage, you build equity.

A Home Equity Loan lets you borrow against your home’s value minus the amount you owe. You can use the money to make home improvements, pay off high-interest credit cards, help fund a college education, and more.

At CEFCU, you can apply for a Home Equity Loan or a Home Equity Credit Line. With a Home Equity Loan, you borrow a set amount at a fixed rate — perfect to finance something specific. For more flexibility, a Home Equity Credit Line lets you draw money multiple times from the credit line at a variable rate.

Get a competitive rate. Pay no hidden fees or early pay-off penalties. And, save money! CEFCU pays all closing costs for Home Equity Credit Lines.2 For more information or to apply, go to


1 Stricker, Christine. “Top ZIPS with Highest Shares of Equity Rich and Seriously Underwater Properties in Q4 2019.” ATTOMTM Data Solutions, 7 February 2020.

2 CEFCU’s closing cost assistance offer is available for a limited time for qualified CEFCU members in good standing who are opening a Home Equity Credit Line or Fixed-Rate Home Equity Loan of $10,000 or more using their owner-occupied home as collateral. To qualify, the home being used as collateral may not be for sale; Bridge Loans and Lot Loans are not eligible for closing cost assistance. Property insurance is required and not included in closing costs. Closing cost assistance excludes Transfer Taxes or Mortgage/Intangible Taxes (applicable in certain states but not applicable to Illinois or California properties). Contact CEFCU for details, including more specific information about third-party fees.