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Both lending solutions allow you to tap into the hard-earned equity youve built in your home.
Read on to learn all about Navy Federal Credit Unions HELOC and home equity loan options.
Quick Summary: Is Navy Federal Credit Union Right for You?
Navy Federal Credit Union offers both home equityloans and home equity lines of credit.
Below is a closer look at each.
After the draw period, borrowers must make payments to pay down the balance.
What Rates and Discounts Can You Get?
The variable interest rate for the HELOC currently starts at 7.750% APR.
For home equity loans, the fixed interest rate starts at 7.340% APR.
As of writing, Navy Federal doesnt offer any rate discount opportunities.
Are There Fees or Closing Costs?
Navy Federal pays the closing costs on all home equity loans.
With that, homeowners wont face an out-of-pocket cost at closing.
But expect to submit extra documents to verify your income.
Whats the program Process Like?
Before applying, youll need to be aNavy Federal Credit Union member.
NFCU is an industry leader when it comes to HELOC fees.
They charge no utility, origination or annual fees.
The credit union also covers all closing costs.
Navy Federal Credit Union offers a worthwhile option for members with qualifying financial situations.
Key Takeaways
FAQ
John Csiszarcontributed to the reporting for this article.
Data is accurate as of April 24, 2025, and is subject to change.
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