Navy Federal Credit Union
Navy Federal Credit Union

Equity Loans At-a-Glance

Navy Federal mortgage programs are designed to fit your needs and include:

  • Great rates
  • Qualify with little or no money down
  • Special mortgage options for military personnel, including 100% financing
  • Personal guidance from first call to closing, 7 days a week
  • Navy Federal servicing for the life of your loan

Loan Application Checklist

Printable version

Loans with FIXED payments for the life of the loan

Loan

May be right for you if...

Benefits

Fixed-Rate Equity Loan You need a specific amount for a one-time purpose, such as home improvement or debt consolidation
  • Lump-sum loan amount at closing
  • Borrow up to 95%2 of the property value
  • Fixed payments for the life of the loan
  • Terms up to 20 years
  • Some restrictions apply in Texas
Apply now
Interest-Only Fixed-Rate Equity Loan You want lower payments up front and a fixed rate for the life of the loan
  • Lump-sum loan amount at closing
  • Borrow up to 80%2 of the property value
  • Fixed payments for the life of the loan
  • Terms up to 20 years
  • Some restrictions apply in Texas
Apply now
Home EquityLine of Credit You want to borrow only what you need, when you need it, such as paying college tuition
  • Borrow up to 95%2 of the property value
  • No interest is charged until the line is used
  • Variable interest rate subject to change on the first work day of every month
  • Access funds by checks, Navy Federal Online® or special Visa® Platinum credit card
  • Credit line remains open for 20 years
  • Not available in Texas
Apply now
Interest-Only Home EquityLine of Credit You want lower payments to repay only the accumulated interest
  • Borrow up to 80%2 of the property value (up to $250,000)
  • Accepts additional payments to reduce the principal balance
  • Access funds by checks, Navy Federal Online or special Visa Platinum credit card.
  • Credit line remains open for 20 years
  • Not available in Texas
Apply now

1. Limited offer. Navy Federal will pay closing costs (excluding government recording charges and title insurance) on new equity loan applications (Fixed Equity Loans/Lines of Credit). Loans paid off and closed in less than 3 years from the loan origination date will require reimbursement of all closing costs paid by Navy Federal. For line of credit amounts up to $500,000, closing costs typically range between $150 and $900. The closing costs depend on the location of the property and the amount of the Equity Loan. Offer excludes Equity Loans/Lines of Credit used for a home purchase and the appraisal fee, if an appraisal is necessary.

2. Some restrictions may apply. The maximum combined loan-to-value for investment properties is 70%.

A sample Fixed Equity Loan payment based on $100,000 at 7.00% APR for 20 years is $775.30.

  • Mortgages5/5 ARM as low as+
    3.484%APR
  • Auto Loansas low as+
    1.49%APR
  • Certificatesas high as
    3.00%APY
  • Checkingas high as
    0.45%APY
  • Credit Cardsas low as++
    7.99%APR
  • More Rates