County Educators Federal Credit Union

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Home Loans (Real Estate)
1st Mortgages

Click here to visit our 1st Mortgage Department where you can learn about our 1st Mortgage programs, view current rate information, calculate payments and even apply online!

Home Equity Line of Credit and 2nd Mortgages

Some Benefits of a CEFCU Home Equity Line of Credit or 2nd Mortgage are:

  • 80% loan-to-value borrowing power
  • Interest is usually tax deductible*
  • Worry-Free Payments with Payroll Deduction/Direct Deposit/Automatic Share Transfer
*Check with your tax advisor about tax deductible interest eligibility

To select which of these loans best fits your needs, compare the differences.

Home Equity Line-of-Credit           Rates

  • Variable rate adjusts annually.
  • Term: five-year draw period, ten-year payback period.
  • Open-End Loan (line-of-credit): A loan from which funds may be withdrawn at any time up to a specified amount during a specified period (five-year draw period) and are made available again as principal is repaid.

Helpful Hint - Most financial institutions change the interest rate on a Home Equity Line-of-Credit whenever prime changes, on a monthly or quarterly basis. Our Home Equity Line-of-Credit product gives you the benefit of a great rate and the peace of mind of knowing that your rate will change on an Annual Basis (not whenever prime changes). This gives you the benefit of a fixed rate loan and the freedom of the open line-of-credit option.

Second Mortgage           Rates

  • Fixed rate for entire term
  • Terms: up to ten-years
  • Closed End Loan: A loan granted for a specific period of time (terms up to ten-years) at a set rate of interest whereby all funds are disbursed at loan closing.

Glossary of Home Loan (Real Estate) Terms           Home Loan (Real Estate) FAQS

For members who wish to request an advance on an existing Home Equity Line-of-Credit, download, complete and submit a Home Equity Line-of-Credit Advance Request Form.

For members who would like to apply, E-mail us a request for a Home Loan application package.



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The Credit Union is an Equal Housing Lender.
We do business in accordance with the Federal Housing Law and the Equal Credit Opportunity Act
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.
National Credit Union Administration, A U.S. Government Agency.
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