Home Equity Lines of Credit are variable-rate lines. Rates are as low as 7.750% APR 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 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. The closing costs depend on the location of the property, property type, and the amount of the Equity Line. 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. Primary residences are owner-occupied, principal residences only. Second home properties must be owner-occupied at some point during the year. Investment properties are non-owner occupied.
All lines for amounts less than $25,000 require a 1.00% increase in APR.
Second home lines require a 1.00% increase in APR and may be subject to other restrictions.
Investment lines require a 2.00% increase in APR with a maximum line amount of $100,000 and a maximum CLTV of 70%.
You must carry homeowners insurance on the property that secures this plan.
Home Equity Lines of Credit are not available in Texas.
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 and is updated to the published rate in the Wall Street Journal on the first workday of every month.↵
Special offer available for new applications on equity loans, equity lines of credit and first mortgage purchase loans only. The Navy Federal Loyalty Card will be mailed to you within six weeks after your loan closes with Navy Federal. Certain product exclusions may apply. One offer per closing. Senior enlisted member must be the primary borrower on the loan to qualify. Offer not available to Navy Federal employees when used in conjunction with employee discount.↵