Navy Federal Credit Union
Navy Federal Credit Union

Equity Loans At-a-Glance

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

  • 0.25% rate discount with automatic payments1
  • No lender closing costs2
  • No application fee, no hidden fees
  • Convenient payment methods
  • Navy Federal servicing for the life of your loan

Loan Application Checklist

Printable version

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 100%3 of the property value
  • Fixed payments for the life of the loan
  • Terms up to 20 years4
  • 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%3 of the property value
  • Fixed payments for the life of the loan
  • Terms up to 20 years5
  • 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%3 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 Home EquityLine Visa® Platinum credit card
  • Credit line remains open for 20 years6
  • 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%3 of the property value (up to $250,000)
  • Variable interest rate subject to change on the first work day of every month
  • Accepts additional payments to reduce the principal balance
  • Access funds by checks, Navy Federal Online, or Home EquityLine Visa Platinum credit card
  • Credit line remains open for 20 years7
  • Not available in Texas
Apply now

1Rate discount is applied after your application is accepted. Discount is available for new Equity Loan 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% APR discount will be removed, and your loan will revert to the original note rate. The minimum APR that can apply during the Home EquityLine of Credit Plan is 3.99%.

2Special 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 three years from the loan origination date will require reimbursement of all closing costs paid by Navy Federal. For loan amounts up to $250,000, 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.

3Some restrictions may apply. The maximum combined loan-to-value for investment properties is 70%.

4Rates are as low as 4.24% APR and are based on creditworthiness, so your rate may differ. A sample Fixed Equity Loan payment based on $100,000 at 6.5% APR for 20 years is $745.57.

5Rates are as low as 7.25% APR and are based on creditworthiness, so your rate may differ. A sample Interest Only Fixed Equity loan payment based on $40,000 at 7.00% APR for 1-5 Years is $233 and payment years 6-20 is $360. This sample payment includes the 0.25% rate discount for automatic payments.

6Home EquityLines of Credit are variable-rate loans. Rates are as low as 3.99% APR and are based on creditworthiness, so your rate may differ. The plan has a maximum APR of 18%.

7Interest-only Home EquityLines of Credit are variable-rate loans. Rates are as low as 4.50% APR and are based on creditworthiness, so your rate may differ. The plan has a maximum APR of 18%.

  • Mortgages5/5 ARM as low as+
    3.280%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