Put your home's equity to work for you
Latest Rates
All Rates5-year Home Equity
as low as5 year 100 LTV Home Equity
as low asInvestment Interest Only
as low as
Home Equity Line of Credit
Unlock the power of your home's equity with a HELOC! Once approved, your credit line becomes available for you to use whenever you need it. Enjoy the flexibility to borrow as needed up to your limit, with rates that adjust just once a year for peace of mind.
100% Loan to Value Home Equity Line of Credit (HELOC)
Our 100% Loan-to-Value Home Equity Line of Credit works just like a standard HELOC, but lets you borrow against more of your home’s value. Use it for home improvements. Plus, your rate only adjusts once a year, no matter how often the Prime Rate changes.
Make the most of your investment property
With our Interest-Only HELOC, you can borrow as needed—using your 1–4 family home or condo as collateral. It’s flexible, and your rate only adjusts once a year, no matter what the Prime Rate does.
Member Protect
Our borrowers may qualify for loss of life, disability and unemployment security protection on their loans. This program provides relief in the event that you lose your job due to no fault of your own, become disabled due to injury or illness, or pass away. This is a voluntary loan-payment protection product that helps you get relief from the financial burden of delinquency, default, or foreclosure if a protected life event unexpectedly happens to you.
I am a member of Central One Credit Union. Checked around other institutions and after a while said to myself you should go to your own bank which was the best decision.
Ready to tap into your home's equity?
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APR: Annual Percentage Rate
All loan programs, rates, terms and conditions are subject to change.Home Equity Line of Credit (HELOC) & 100% Home Equity Line of Credit Disclosures:
*Less first mortgage balance. Credit score of 660+ required. Other loan to value options available for credit scores below 660.
**Max loan amount is $250,000. Title search fees may apply for properties outside of Worcester County or properties obtained through a foreclosure deed.
Home Equity Line of Credit (HELOC) Disclosure: Variable interest rate as low as Prime minus 1%. Floor rate is 3.25% APR. The Prime Rate is published on the Wall Street Journal website; the current Prime rate can be found at the WSJ website. Rate will adjust only once per year, on the anniversary date of the account opening, even if the Prime Rate goes up!. Max APR is 17.5%. Actual rate will be determined based on credit history, term, loan to value and other factors. Home must be owner-occupied or second home. Borrow up to 80% of the appraised value of your home less first mortgage balance or 70% of the tax-assessment value less first mortgage balance. Only pay interest on the funds you borrow. Minimum line amount of $7,500. Flexible payment terms of up to 30 years. Interest may be tax deductible (consult your tax advisor). No closing costs for properties within Worcester County with loans of $250,000 or less (except appraisal and title search if required). Any loan amount over $400,000 will require an appraisal. Title search fees may apply for properties outside of Worcester County or properties obtained through a foreclosure deed. Property and flood insurance may be required. Other restrictions may apply.
100% Home Equity Line of Credit (HELOC) Disclosure: Variable interest rate as low as Prime minus 1%. Floor rate is 3.25% APR. The Prime Rate is published by the Wall Street Journal; the current Prime rate can be found at the WSJ website. Rate will adjust only once per year, on the anniversary date of the account opening, even if the Prime Rate goes up! Max APR is 17.5%. Actual rate will be determined based on credit history, term, loan to value and other factors. Borrow up to 100% of the appraised value of your home less first mortgage balance or 70% of the tax-assessment value less first mortgage balance. Only pay interest on the funds you borrow. Minimum line amount of $7,500. Flexible payment terms of up to 30 years. Interest may be tax deductible (consult your tax advisor). No closing costs for properties within Worcester County with loans of $250,000 or less (except appraisal and title search if required). Title search fees may apply for properties outside of Worcester County or properties obtained through a foreclosure deed. Property and flood insurance may be required. Professional estimates are required. Minimum credit score of 660. Other restrictions may apply.
Investment Interest Home Equity Line of Credit (HELOC) Disclosures:
1 Max loan amount is $250,000. Title search fees may apply for properties outside of Worcester County or properties obtained through a foreclosure deed.
2 Less first mortgage balance. Credit score of 660+ required. Other loan to value options available for credit scores below 660.
Variable interest rate as low as Prime plus 1%. Floor rate is 3.25% APR. The Prime Rate is published by the Wall Street Journal; the current Prime rate can be found at the WSJ website. Rate will adjust only once per year, on the anniversary date of the account opening, even if the Prime Rate goes up! Max APR is 17.5%. Actual rate will be determined based on credit history, term, loan to value and other factors. Minimum line amount of $7,500. Interest may be tax deductible (consult your tax advisor).2 Investment property must be 1-4 family homes or condos. No commercial retail property. Borrow up to 80% of the appraised value of your home less first mortgage balance or 70% of the tax-assessment value less first mortgage balance. Only pay interest on the funds you borrow. Other restrictions may apply.
Best uses of your Home Equity Line
A home equity line of credit (HELOC) is an open-ended line of credit in which your home serves as collateral.
Best uses
- Consolidate Debt: Pay off high-interest credit card balances, student loans or other expenses.
- Pay for Home Improvements: Use the funds to increase your home’s value and your living experience.
- Child’s Education Expenses: Reduce your child’s student loan burden with a lower rate HELOC.
- Financial Protection: Sleep soundly knowing you have access to cash when you need it.
Benefits
- Borrow up to 80% of the appraised value of your home or 70% of the tax-assessment value (Minimum line amount of $7,500)*
- Only pay interest on the funds you borrow
- Variable interest rate starting as low as Prime minus 1%
- 10-year draw period, followed by a 20-year repayment period
- Rate will adjust only once per year, on the anniversary date of the account opening, even if the Prime Rate goes up!
- Interest may be tax deductible (consult your tax advisor)
- No closing costs for properties within Worcester County, (except appraisal and title search if required)**
100% Loan to Value Home Equity Line of Credit (HELOC)
Just like our standard home equity line of credit (HELOC), the 100% Loan to Value Home Equity Line of Credit is an open-ended line of credit in which your primary residence, single family home, duplex or condo, serves as collateral.
Best Use
- Pay for home improvements: Use the funds to increase your primary home’s value and living experience.
Benefits
- Borrow up to 100% of the appraised or assessed value of your home*
- No application fee and no points
- Interest may be tax deductible (consult your tax advisor)
- No closing costs for properties within Worcester County, except appraisals**
Investment Property HELOC
Just like our standard home equity line of credit (HELOC), an Investment Interest Only HELOC is an open-ended line of credit in which your investment property, 1-4 family home or condo, serves as collateral.
Best Uses
- Pay for Home Improvements: Use the funds to increase your investment home’s value.
- Consolidate Debt: Pay off high-interest credit card balances, student loans or other expenses.
- Financial Protection: Sleep soundly knowing you have access to cash when you need it.
Benefits
- Borrow up to 80% of the appraised value of your home or 70% of the tax-assessment value (Minimum line amount of $7,500)1
- Only pay interest on the funds you borrow
- Variable interest rate starting as low as Prime plus 1%2
- 5-year draw period, followed by a 10-year repayment period
- Rate will adjust only once per year, on the anniversary date of the account opening, even if the Prime Rate goes up
- Interest may be tax deductible (consult your tax advisor)
Rates
| Loan Type | Term | APR as low as | More Information |
|---|---|---|---|
|
Home Equity Loan |
Up to 5 years |
|
Up to 70% of tax assessment
|
|
Home Equity Loan |
Up to 10 years |
|
Up to 70% of tax assessment
|
|
Home Equity Loan |
Up to 15 years |
|
Up to 70% of tax assessment
|
|
Home Equity Loan |
Up to 20 years |
|
Up to 70% of tax assessment
|
|
100% Loan to Value Home Equity Loan |
Up to 5 years |
|
N/A |
|
100% Loan to Value Home Equity Loan |
Up to 10 years |
|
N/A |
|
100% Loan to Value Home Equity Loan |
Up to 15 years |
|
N/A |
|
100% Loan to Value Home Equity Loan |
Up to 20 years |
|
N/A |
|
Mobile Home
|
Up to 5 years |
|
N/A |
|
Mobile Home
|
Up to 10 years |
|
N/A |
Rates effective as of: May 25, 2025
Rates are subject to change. APR: Annual Percentage Rate Home Equity Loan *If collateral is an investment property, rates are 1% higher than owner occupied rates listed above. **Less first mortgage balance. Credit score of 660+ required. Other loan to value options available for credit scores below 660. ***Any loan amount over $400,000 will require an appraisal. Title search fees may apply for properties outside of Worcester County or properties obtained through a foreclosure deed. Other conditions may apply. Not available on properties located in Texas. 100% Loan to Value Home Equity Loan-Maximum loan amount is $250,000. Title search fees may apply for properties outside of Worcester County or properties obtained through a foreclosure deed.
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Open Account
Ice Cream Day Dates
All Ice Cream Day events are from 4:00 – 6:00 pm.
June 12th- Auburn Branch, 63 Southbridge Street
July 24th- Westborough Branch, 40 South Street
July 31st- Milford Branch, 82 Prospect Street
August 7th- Northborough Branch, 148 Main Street
August 28th- Shrewsbury Branch, 714 Main Street
August 15th- Worcester (Saint Vincent Hospital) Branch – We’ll be serving Goody’s Kettle Corn at the branch all day!
Food Truck Dates
All Food Truck Events are from 11:00 am – 1:00 pm.
July 12th- Westborough Branch, 40 South Street: Tacoborough Food Truck
August 9th- Shrewsbury Branch, 714 Main Street: Savage Wraps Food Truck
August 14th- Worcester (Saint Vincent Hospital) Branch – Garden Fresh sandwiches in-branch
August 23rd- Auburn Branch, 63 Southbridge Street: Bird’s Nest Panini Food Truck
September 6th- Northborough Branch, 148 Main Street: Tacoborough Food Truck
October 4th- Milford Branch, 82 Prospect Street (Route 140): Braised Food Truck
Adjustable Rate Mortgages
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The 15/5 Adjustable Rate Mortgage offers a fixed APR of
for the first 15 years then adjusts to a new rate every 5 years. Term: Available for terms up to 40 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 15/5 Adjustable Rate Mortgage offers a fixed APR of
for the first 15 years then adjusts to a new rate every 5 years. Term: Available for terms up to 40 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 10/5 Adjustable Rate Mortgage offers a fixed APR of
for the first 10 years then adjusts to a new rate every 5 years. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 10/5 Adjustable Rate Mortgage offers a fixed APR of
for the first 10 years then adjusts to a new rate every 5 years. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 5/1 Adjustable Rate Mortgage offers a fixed APR of
for the first 5 years then adjusts to a new rate every 1 year. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 5/1 Adjustable Rate Mortgage offers a fixed APR of
for the first 5 years then adjusts to a new rate every 1 year. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 3/3 Adjustable Rate Mortgage offers a fixed APR of
for the first 3 years then adjusts to a new rate every 3 years. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 3/3 Adjustable Rate Mortgage offers a fixed APR of
for the first 3 years then adjusts to a new rate every 3 years. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 1/1 Adjustable Rate Mortgage offers a fixed APR of
for the first 1 year then adjusts to a new rate every 1 year. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
-
The 1/1 Adjustable Rate Mortgage offers a fixed APR of
for the first 1 year then adjusts to a new rate every 1 year. Term: Available for terms up to 30 years.
Rate caps: 2% per adjustment and 5% over the initial rate for the life of the loan.
Benefits: Central One’s ARMs often have lower down payment requirements, lower initial monthly payments and lower initial APRs than a 30 year fixed rate.
Calculate your monthly payment using the ARM Mortgage Calculator
Prior to applying, please make sure your credit is not frozen by the credit reporting agencies or we will not be able to process your application.
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