Home Equity Loans
Open the Door to Your Home's Equity
Open the Door to Your Home's Equity
Great options to help you benefit from the equity you've earned.
What Is Home Equity?
Home equity is the difference between how much you owe on your mortgage and how much your home is worth. Navy Federal has home equity loan options that could help you to use your home’s equity to help you pay for life’s big expenses.
Home Equity Loan Types and Rates
Fixed-Rate Equity Loan
The best part about our Fixed-Rate Equity Loan1 is stability. This is a great option if you’re in need of a specific amount of money for a one-time expense. You'll get a lump sum amount and enjoy a fixed rate for the life of the loan with set monthly payments.
Home Equity Line of Credit
Our Home Equity Line of Credit3 offers flexibility. If you expect to have ongoing expenses, this option is for you. Borrow as you need, when you need it, up to your maximum credit limit.
Loan Details:
- Borrow up to 95% of your home’s equity4
- Min/Max Line Amount: $10,000 - $500,000
- Variable rate, based on the U.S. Prime Rate
- No application, origination, annual or inactivity fee3
- Interest-only option available3
Common Uses of Equity Loans
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Home Improvements and Repairs
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Debt Consolidation
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Large Purchases
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Life Events
Home Equity Loan Features
- Personal guidance from first call to closing
- No application or origination fee1
- Navy Federal servicing for the life of your loan

See What Our Members Have to Say
"Great company. Made the process very easy and enjoyable. Highly recommend to all my friends."5
-Navy Federal Member James
Home Equity Loan FAQs
How do I apply for a Home Equity Loan or Line of Credit (HELOC)?
Please visit our resource page to learn more about the home equity process and what steps you need to take.
What are today's interest rates?
You can view today's rates here.
How long does it take to close?
Processing times are currently estimated to take 40 to 55 calendar days to close on a new home equity loan or Home Equity Line of Credit (HELOC) once we receive your application. However, closing times vary based on many factors, so check with your Equity Processor early in the process to better understand when you can expect to close.
What are the fees associated with closing?
Navy Federal doesn’t require origination and application fees. Closing costs are costs paid to third parties rather than an application or origination fee retained by Navy Federal. Typical closing costs you’ll need to cover include:
- credit report fee
- flood determination fee
- government fees and recording charges
- taxes (e.g., transfer taxes)
- property valuation
- title search/insurance (if required)
- fees associated with condominium properties (if required)
Occasionally, there may be exceptions or unique situations when you’re charged other closing fees. Consult with your Processor for the fees you’ll need to pay.
Home Equity Resources
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How to Apply for a Home Equity Loan or Line of Credit (HELOC)
Review our step-by-step guide to help you through the home equity loan process.
Learn Moreabout How to Apply for a Home Equity Loan or Line of Credit (HELOC) -
What Is Home Equity?
Learn about home equity and how you can use it.
Learn Moreabout What Is Home Equity? -
Registered Mortgage Loan Originators
See our list of licensed Mortgage Loan Originators.
Learn Moreabout Registered Mortgage Loan Originators
Ready to apply or have a question?
Stateside member reps are here for you 24/7. Reach us online, over the phone or at a branch. Contact us.
If you're ready to apply for an equity loan or want to check the status of your loan, please call us at 1-877-573-2324.
Disclosures
Home Equity Loans are fixed-rate loans. Rates are as low as 6.640% APR and are based on an evaluation of credit history, CLTV (combined loan-to-value) ratio, loan amount and occupancy, so your rate may differ. For loan amounts of up to $250,000, closing costs that members must pay typically range between $300 and $2,000. Closing costs are costs paid to third parties rather than an application or origination fee retained by Navy Federal. The closing costs depend on the location of the property, property type, and the amount of the Equity Loan. Rates are subject to change—information provided does not constitute a loan commitment. A sample Fixed-Rate Equity Loan monthly payment based on $100,000 at 7.650% APR for 20 years is $814.79. Taxes and insurance not included; therefore, the actual payment obligation will be greater. You must carry homeowners insurance on the property that secures this plan.
↵Some restrictions may apply. The maximum CLTV for primary and second home properties is 100%. Factors that may impact the amount of equity that can be borrowed include evaluation of credit history, CLTV ratio, occupancy, loan amount, and loan term (5, 10, 15, 20 years).
↵Home Equity Lines of Credit are variable-rate lines. Rates are as low as 8.000% APR and 8.750% for Interest-Only Home Equity Lines of Credit and are based on an evaluation of credit history, CLTV (combined loan-to-value) ratio, line amount and occupancy, so your rate may differ. The plan has a minimum APR of 3.99% and a maximum APR of 18%. Members who choose to proceed with an Interest-Only Home Equity Line of Credit may experience significant monthly payment increases when the line of credit enters into the repayment phase. For line amounts of up to $250,000, closing costs that members must pay typically range between $300 and $2,000. Closing costs are costs paid to third parties rather than an application or origination fee retained by Navy Federal. The closing costs depend on the location of the property, property type, and the amount of the Equity Line. Rates are subject to change—information provided does not constitute a loan commitment. You must carry homeowners insurance on the property that secures this plan. Home Equity Lines of Credit are not available in Texas.
↵Some restrictions may apply. The maximum CLTV for primary and second properties is 95% and for investment properties is 70%. Factors that may impact the amount of equity that can be borrowed include evaluation of credit history, CLTV ratio, occupancy, and loan amount.
↵The views expressed in the reviews are solely those of the individuals posting them. The testimonials are substantively the words of the individual reviewer, but may have undergone minor clerical revisions to ensure readability, add context, or protect private information. Any imagery displayed is for decorative purposes only and is not necessarily associated with the reviewer.
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