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 allow 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 Loan3 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 at closing and enjoy a fixed rate for the life of the loan with set monthly payments.
Loan Details:
- Borrow up to 100% of your home's equity4
- Min/Max Loan Amount: $10,000 - $500,000
- Fixed rate for the life of the loan
- No application or origination fee
Rate:
APR as low as: 4.990%Term:
5-, 10-, 15-, 20-year
Home Equity Line of Credit
Our Home Equity Line of Credit5 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 Loan Amount: $10,000 - $500,000
- Variable rate, based on the U.S. Prime Rate
- No application, origination, annual or inactivity fee1
New! Enjoy a Smooth Loan Experience With HomeSquad
Step-by-Step Guidance and 24-7 Access to Your Loan Status
Home Equity Resources
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How to Apply for a Home Equity Loan or Line of Credit
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 -
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
Disclosures
Home Equity Lines of Credit are variable-rate loans. Rates are as low as 4.250% APR with a plan maximum of 18% APR. For loan amounts of up to $250,000, closing costs that members must pay typically range between $300 and $2,000.
↵Consult with your tax advisor.
↵Rates are as low as 4.990% 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. Rates are subject to change—information provided does not constitute a loan commitment.
A sample Fixed-Rate Equity Loan payment based on $100,000 at 6.00% APR for 20 years is $716.43.
Fixed-Rate Equity Loans are available for primary residences and second homes. Second-home loans and all loans for amounts less than $25,000 require a 1.00% increase in the interest rate and may be subject to other restrictions.
↵Some restrictions may apply.
↵Home Equity Lines of Credit are variable-rate loans. Rates are as low as 4.250% 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. The plan has a maximum APR of 18%. For loan amounts of up to $250,000, closing costs that members must pay typically range between $300 and $2,000. Members may borrow against their available credit line for a period of 20 years, after which any existing balance must be paid in full within the following 20 years. Rates are subject to change—information provided does not constitute a loan commitment.
Home Equity Lines of Credit are available for primary residences and second homes. Second-home loans and all loans for amounts less than $25,000 require a 1.00% increase in the interest rate and may be subject to other restrictions. You must carry homeowners insurance on the property that secures this plan. Home Equity Lines of Credit are not available in Texas.
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