Interest-Only Home Equity Line of Credit

Payments stay low during the 20-year draw time on our Interest-Only Home Equity Line of Credit, allowing you to begin repaying only the accumulated interest. Make additional payments to reduce the principal balance, too. Access your funds by writing a check or using your Home Equity Line Visa® Platinum credit card.
(Home Equity Line of Credit is not available in Texas.)

Get Started

1Receive a 0.25% rate discount on your Home Equity Line. Rate discount is applied after your application is accepted. Discount is available for new Home Equity Line 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%.

2Special offer. Navy Federal will pay most closing costs on new Equity Loan applications (Fixed Equity Loans and Lines of Credit) including settlement fees, flood determination fee, title search and notary fees. Offer excludes government fees and recording charges, 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. For loan amounts up to $250,000, closing costs that members must pay typically range between $150 and $1,200. Closing costs depend on the location of the property, property type and the amount of the Equity Loan. Offer is not valid for Fixed Equity Loans/Lines of Credit used for a home purchase.

3Interest-Only Home Equity Lines of Credit are variable-rate loans. Rates are as low as 4.75% 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%.

4Some restrictions may apply. The maximum combined loan-to-value for investment properties is 70%.