Home Project Financing Center
When it comes to starting your home renovation or repair, there are lots of ways to pay for it.
The best plan of attack is to do a little recon to determine the best fit.
Our Home Project Financing Center brings you all the information you need in one handy place. Quickly see financing options and the renovation projects best suited for each.
Great Financing Options, No Matter How Big or Small Your Home Improvement Project
Use Your Home's Equity
Home equity loans—sometimes called home improvement loans—allow you to borrow against the equity in your home. Navy Federal offers 2 types: Fixed-Rate Home Equity Loan and Variable-Rate Home Equity Line of Credit.
Home Equity Loan
A great option if you’re planning to spend a specific amount on a one-time project. You’ll pay $0 in closing costs,Footnote 1 receive your funds in one lump sum and enjoy a fixed interest rate for the life of your loan; plus, you may qualify for a tax benefit on the interest you pay. Footnote 2
CREDIT AMOUNT: $10K-$500K
Home Equity Line of Credit (HELOC)
A good choice if you expect to have ongoing home-improvement projects. You can borrow the amount you need when you need it up to your credit limit; plus, you’ll pay $0 in closing costs,Footnote 3 and you may qualify for a tax benefit on the interest you pay. Footnote 2
CREDIT AMOUNT: $10K-$500K
A cash-out refinance is another way to tap into the equity in your home. Find out if this option makes sense for you.
Home equity loans are best for:
Lower rates
Larger renovations and big expenses
Good to excellent credit
Personal loans are best for:
Getting money quickly
Home renovations & timely repairs
Average to excellent credit
Pay With Your Credit Card
Credit cards offer a variety of advantages, including fast funding and the opportunity to earn rewards. You can use your current Navy Federal card or apply for a new one online.
Platinum Credit Card
A great option for emergency repairs and planned bigger projects. Because our Platinum credit card features our lowest available credit card APR, you could save money if you need to pay over time with a credit card. Shop through Member Deals (including Home Depot and Lowes), and you can get a credit that will be applied to your account balance!Footnote 6
MAXIMUM AVAILABLE CREDIT LINE: $50KFootnote 7
Learn More about the Platinum Credit Card
Navy Federal Rewards Credit Cards
Our rewards credit cards are a good choice for smaller purchases that you can pay off quickly—and you'll earn points when you spend!
MAXIMUM AVAILABLE CREDIT LINE: $80KFootnote 8
Credit cards are best for:
Getting rewards
Emergency repairs or small renovation costs that you’re able to pay off quickly
Good to excellent credit
Compare Your Financing Options
| Loan Type | APR | Terms | Funding Timing | Limit |
|---|---|---|---|---|
| Fixed-Rate Equity Loan | As low as 7.340% Fixed rate | 5-, 10-, 15-, 20-yearFootnote 1 | 30-40 days | Up to 100% of your home’s equityFootnote 9 |
| Home Equity Line of Credit (HELOC) | As low as 7.750% Variable rate |
20-year draw period, followed by 20-year repayment period | 30-40 days | Up to 95% of your home's equityFootnote 9 |
| Personal Expense Loan | 8.99%-18.00%Footnote 10 14.29%-18.00%Footnote 11 Fixed rateFootnote 12 |
Up to 60 mos.Footnote 10 , Footnote 11 | Same day in most cases | $250 to $50,000 |
| Navy Federal Credit Cards | 11.99%-18.00% Variable rateFootnote 13 | N/A | Immediately for cardholders; within 7 days for new cards | Varies |
Home Improvement Resources
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How to Decide if Home Remodeling Makes Financial Sense
Ask yourself what value you could gain from an investment standpoint so you get the best return on your home improvements.
Keep Reading about How to Decide if Home Remodeling Makes Financial Sense -
A Homeowner’s Seasonal Home Maintenance Checklist
There are costs that accompany upkeep, but maintenance can actually save you money! Make sure you know which chores are most important each season.
Keep Reading about A Homeowner’s Seasonal Home Maintenance Checklist -
7 Affordable Improvements to Help Boost Your Home’s Value
Look at your home as an investment and continue to reinvest in it to raise your equity. You can start with small projects before pursuing larger upgrades.
Keep Reading about 7 Affordable Improvements to Help Boost Your Home’s Value
Disclosures
Home Equity Loans are fixed-rate loans. Rates are as low as 7.340% 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. 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. Navy Federal will pay for all closing costs on new Fixed-Rate Equity Loan applications dated on or after June 1, 2023. Covered closing costs include lender fees and fees paid to third parties, such as settlement fees, credit reports, flood determinations, property valuations (including appraisals, if required), title searches, lender’s title insurance, recording, mortgage transfer taxes, and government charges. For loan amounts of up to $250,000, closing costs that members may pay typically range between $300 and $2,000. The member is responsible for escrow payments and/or prepaid costs, if required, including property taxes and assessments, homeowners’ and flood insurance premiums, association fees/dues and assessments, and prepaid interest. You must carry homeowners’ insurance on the property that secures this plan. All loans subject to approval. Offer is subject to change or cancellation without notice.
↵The interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes. Consult with your tax advisor for more information about tax deductibility.
↵Home Equity Lines of Credit (HELOC) are variable-rate lines. Rates are as low as 7.750% 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. HELOC has a minimum APR of 3.99% and a maximum APR of 18%. Members who choose to proceed with an Interest-Only HELOC may experience significant monthly payment increases when the line of credit enters the repayment phase. Navy Federal will pay for all closing costs on HELOC applications dated on or after June 3, 2024. Covered closing costs paid to 3rd parties include settlement fees, credit reports, flood determinations, property valuations (including appraisals, if required), title searches, lender’s title insurance, recording, and government charges. The member is responsible for prepaid interest and escrow payments for 1st lien HELOCs. Member must carry homeowners’ insurance on the property that secures the HELOC. For loan amounts up to $250,000, closing costs typically range between $300 and $2,000. Applications for a HELOC include a request for a HELOC Platinum Credit Card. All loans subject to approval. Offer is subject to change or cancellation without notice. Rates are subject to change. HELOC loans are not available in Texas.
↵The maximum loan amount is $50,000 for an individual, $150,000 with a co-applicant.
↵$250 minimum loan amount applicable to loan terms of up to 36 months. $25,000 minimum loan amount for 61- to 84-month terms and $30,000 minimum loan amount for 85- to 180-month terms
↵Rewards are subject to change and vary by merchant. Reward types are based on the purchasing credit card. cashRewards, cashRewards Plus, and cashRewards Secured cards receive cash back, Platinum receives a statement credit, and all others receive points. Program excludes Navy Federal Business and Home Equity Line Visa® Platinum credit cards and Navy Federal Debit Cards.
↵$50,000 is the maximum available credit line for existing cardholders. New Platinum credit card accounts are eligible for a maximum initial credit line of $30,000.
↵Advertised maximum available credit line not available on all cards. $80,000 is the maximum available credit line for existing Visa Signature® Flagship Rewards cardholders. The maximum available credit line for existing cashRewards, GO REWARDS®, and More Rewards accounts is $50,000. New cashRewards, GO REWARDS, Flagship Rewards, and More Rewards credit card accounts are eligible for a maximum initial credit line of $30,000.
↵Product features subject to approval, which is based on an evaluation of credit history, CLTV (combined loan-to-value) ratio, loan amount, line amount, and occupancy.
↵8.99%-18.00% APR range available for loan terms up to 36 months.
↵14.29% - 18.00% APR range available for loan terms between 37 and 60 months.
↵Rates are subject to change and based on creditworthiness, so your rate may differ. Personal Loan rates range from 8.99% to 18.00% APR. Payment Example: A loan amount of $5,000 for 36 months has a payment range from $160 to $183 and finance charge range from $763 to $1,598.
↵As of 05/12/2025, cashRewards Secured card rate is 18.00% APR and will vary with the market based on the U.S. Prime Rate. All other Navy Federal credit card rates range from 10.99% APR to 18.00% APR, are based on product type and creditworthiness, and will vary with the market based on the U.S. Prime Rate. ATM cash advance fees: None if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per domestic transaction or $1.00 per foreign transaction. $49 annual fee for Visa Signature® Flagship Rewards.
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