Interest-Only Home EquityLine of Credit

Payments stay low during the 20-year draw time on our Interest-Only Home EquityLine 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 EquityLine Visa® Platinum credit card.
(Home EquityLine of Credit is not available in Texas.)

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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 on new Equity Loan applications (Fixed Equity Loans and Lines of Credit). Offer excludes Equity Loans/Lines of Credit used for a home purchase, government recording charges, 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 typically range between $150 and $900. Closing costs depend on the location of the property, property type and the amount of the Equity Loan.

3Interest-Only Home EquityLines of Credit are variable-rate loans. Rates are as low as 4.50% APR and are based on an evaluation of credit history, CLTV (combined loan-to-value ratio) 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%.