What Is a Fixed-Rate Equity Loan?

Our Fixed-Rate Equity Loan is a great option if you need money for a one-time expense. You'll get a lump sum amount at closing. With a fixed interest rate for the life of the loan and set monthly payments, you’ll know exactly what to expect.


  • Ability to borrow up to 100% of your home’s equity1
  • Fixed rate with set monthly payments
  • Lump sum amount available at closing
  • 5-, 10-, 15- and 20-year terms available

Common Uses of Fixed-Rate Equity Loans

  • Home Improvements and Repairs

  • Debt Consolidation

  • Large Purchases

  • Life Events

Home Equity Offers and Benefits

  • Personal guidance from first call to closing
  • Special savings on closing costs2
  • Interest that may be tax deductible3
  • 0.25% Rate discount with automatic payments4
  • No application or origination fee
  • Navy Federal Servicing for the life of your loan
Learn More about Home Equity Offers & Benefits

Fixed-Rate Home Equity Loan Rates5

Loan TypeAPR as Low asMinimum/Maximum Loan AmountMaximum CLTV
Fixed Equity 5 Yrs4.990%$10,000 - $500,00070%
Fixed Equity 5 Yrs5.490%$10,000 - $500,00080%
Fixed Equity 5 Yrs6.990%$10,000 - $250,00090%
Fixed Equity 5 Yrs7.990%$10,000 - $100,000100%
Fixed Equity 10 Yrs5.300%$10,000 - $500,00070%
Fixed Equity 10 Yrs8.300%$10,000 - $100,000100%
Fixed Equity 15 Yrs5.600%$10,000 - $500,00070%
Fixed Equity 15 Yrs8.600%$10,000 - $100,000100%
Fixed Equity 20 Yrs6.000%$10,000 - $500,00070%
Fixed Equity 20 Yrs8.500%$10,000 - $150,00095%
Fixed Equity Investment 15 Yrs8.630%$10,000 - $100,00070%
Interest Only Fixed Equity7.380%$10,000 - $250,00070%
Interest Only Fixed Equity7.880%$10,000 - $250,00080%

Rates as of January 29, 2020 ET.

Combined Loan-to-Value Ratio: CLTV is a term used by lenders to represent the total amount of loans compared to the value of the property securing the loan. The CLTV includes the total amount from all loans borrowed divided by the total value of the property. For example, if a property owner takes out two separate $20,000 loans on a property worth $100,000, the CLTV would be calculated as $20,000 + $20,000/$100,000 or more simply, $40,000/$100,000 or 40%.

Additional rates and terms are available. Call us at 1-888-842-6328.

Apply for an equity loan Now

Interest-Only Fixed-Rate Equity Loan

Our Interest-Only Fixed-Rate Equity Loan is a good option if you want lower payments up-front and a fixed rate for the life of the loan. You begin with low, interest-only payments for the first five years, then move to principal-and-interest payments starting the sixth year.

  • 20-year term available
  • Ability to borrow up to 80% of your home's equity1

Home Equity Resources

View More Home Equity Resources


1 Some restrictions may apply. The maximum CLTV for investment properties is 70%.

2 Navy Federal will pay most closing costs on new Equity Loan applications (Fixed-Rate Equity Loans and Home Equity Lines of Credit), including settlement fees, flood determination fee, title search and notary fees. Offer excludes government fees and recording charges, credit report fees, taxes, and when required, appraisal fees, title insurance and any fees associated with condominium properties. Loans paid off and closed in less than three years from the loan origination date will require reimbursement of all closing costs paid by Navy Federal. Reimbursement does not apply to Texas equity loans and loans paid off with a Navy Federal equity/mortgage loan. For loan amounts of up to $250,000, closing costs that members must pay typically range between $150 and $1,200 ($250 and $1,900 in NY, ID and TX). Closing costs depend on the location of the property, property type and the amount of the Equity Loan. Offer is not valid for Fixed-Rate Equity Loans/Home Equity Lines of Credit used for a home purchase. Offer is subject to change or cancellation without notice.

3 Consult with your tax advisor.

4 Rate discount is applied after your application is accepted. Discount is available for new Fixed Equity Loan and Home Equity Line of Credit applications. You must set up and maintain monthly recurring automatic payments from your Navy Federal checking account for the life of the loan; otherwise, the 0.25% rate discount will be removed, and your loan will revert to the original note rate. The minimum APR that can apply during the Home Equity Line of Credit plan is 3.99%. Offer must be accepted prior to loan closing, and is subject to change or cancellation without notice.

5 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. The APR listed does not include the advertised 0.25% rate discount. For loan amounts of up to $250,000, closing costs that members must pay typically range between $150 and $1,200 ($250 and $1,900 in NY, ID and TX). 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, second homes and investment properties. 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.
For Interest-Only Fixed-Rate Equity Loans, payments are interest-only for 5 years and then change to principal and interest for the remaining 15 years.
Interest-Only Fixed-Rate Equity Loans are not available in Texas for second homes or investment properties.