Home equity is the difference between the current market value of your home and what you owe. As the value of your home is maintained or if it increases, and you pay down your first mortgage, you build equity. You may be able to use the equity in your home to:

  • Consolidate higher-interest debt, such as loans or credit cards.
  • Complete a home improvement project.
  • Help finance a college education or wedding.
  • And more!

Do You Know How Much Equity You Have In Your Home?

Available equity example
AVAILABLE EQUITY EXAMPLE
Appraised home value $100,000
Multiply by 0.90 (or 90%) 0.90
Available equity $90,000
Balance due on first mortgage -$70,000
Approximate amount available as a Hybrid Home Equity Line of Credit $20,000

Other Savings

In addition to competitive rates, with a CEFCU Hybrid Home Equity Line of Credit, there’s:

  • No annual fee.
  • No early payment penalty.
  • No termination fee.

Convenient Ways To Apply

Apply for a CEFCU Hybrid Home Equity Line of Credit: