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Equity Loans At-A-Glance
Navy Federal equity loans are a great value, including:
- Rates are the lowest you will find anywhere—you'll be amazed at how we compare to other lenders
- No lender closing costs1
- Credit limits up to 90%2 of home value
- Navy Federal servicing for the life of your loan
Use the following chart to compare features for our equity programs.
| Loan |
May be right for you if... |
Benefits |
Fixed Equity
Apply Now |
- You need a specific amount for a one-time purpose, such as home improvement or debt consolidation
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- Lump sum loan amount received at closing
- Borrow up to 90%2 of the property value
- Fixed payments for the life of the loan
- Terms up to 20 years
- Some restrictions apply in Texas
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Interest-Only Fixed Equity
Apply Now |
- You want lower payments up front and a fixed rate for the life of the loan
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- Lump sum loan amount received at closing
- Borrow up to 90%2 of the property value
- Fixed payments for the life of the loan
- Terms up to 20 years
- Some restrictions apply in Texas
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Home EquityLine of Credit
Apply Now |
- You want to borrow only what you need, when you need it, such as paying college tuition
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- Borrow up to 80%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 15 years
- Not available in Texas
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Interest-Only Home EquityLine of Credit
Apply Now |
- You want lower payments to repay only the accumulated interest
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- 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 5 years
- Not available in Texas
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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 loan/line 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.
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. |
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