What Is a Home Equity Line of Credit (HELOC)?

A HELOC lets you borrow as needed from a line of credit, up to a set maximum credit limit.
You'll pay only for the funds you use.

Features of Home Equity Lines of Credit from Navy Federal

  • Ability to borrow up to 95% of your home’s equity1
  • Variable rate based on the prime rate
  • 20-year draw period, followed by 20-year repayment period
  • No application, origination, annual or inactivity fee2 3
  • Convenient ways to access your funds
  • Navy Federal servicing for the life of your loan

Common Uses of Home Equity Lines of Credit

  • Home Improvements

  • Emergency Fund

  • Medical Expense

  • Tuition

Home Equity Offers and Benefits

  • Personal guidance from first call to closing
  • Special savings on closing costs2
  • Interest that may be tax deductible4
  • 0.25% Rate discount with automatic payments5
  • No application or origination fee2 3
  • Navy Federal Servicing for the life of your loan
Learn More about Home Equity Offers & Benefits

HELOC Rates6

Loan TypeAPR as Low asMinimum/Maximum Loan AmountMaximum CLTV
Home Equity Line5.750%$10,000 - $500,00070%
Home Equity Line6.250%$10,000 - $500,00080%
Home Equity Line6.750%$10,000 - $500,00090%
Home Equity Line7.250%$10,000 - $250,00095%
Home Equity Line Investment7.750%$10,000 - $100,00070%
Interest Only Home Equity Line6.750%$10,000 - $250,00070%
Interest Only Home Equity Line7.250%$10,000 - $250,00080%
Interest Only Home Equity Line Investment8.750%$10,000 - $100,00070%

Rates as of July 22, 2019 ET.

Combined Loan-to-Value Ratio (CLTV): 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 a home equity line of credit.

Navy Federal's Home Equity Line Visa® Platinum Card

Our card is an easy, convenient way for making purchases with your equity line.

Learn More about Navy Federal's Home Equity Line Visa® Platinum Card

Interest-Only Home Equity Line Of Credit (HELOC)

Payments stay low during the 20-year draw period on our Interest-Only Home Equity Line of Credit, allowing you to begin repaying only the accumulated interest. You can also make additional payments to reduce your loan’s principal balance.

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 Home Equity Lines of Credit are variable rate loans. Rates are as low as 5.750% APR with a plan maximum of 18% APR.

4 Consult with your tax advisor.

5 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.

6 Home Equity Lines of Credit are variable-rate loans. Rates are as low as 5.750% 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%. The APR listed does not include the advertised 0.25% rate discount. 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, 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. You must carry homeowners insurance on the property that secures this plan. Home Equity Lines of Credit are not available in Texas. Interest-Only Home Equity Lines of credit are not available for second homes.

7 Payments are interest-only for 20 years and then change to principal and interest for the remaining 20 years.

Lifetime Floor: The minimum APR that can apply during the Home Equity Line of Credit Plan is 3.99%. Our Home Equity Line APR varies based on the U.S. prime rate, which is currently 5.50% and is updated according to the published rate in the Wall Street Journal on the first work day of every month.