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Home Equity Loan Rates

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Check today's home equity loan rates

Rates effective as of 02/01/19. Interest rates may change. Please see your account disclosure for additional details.

Traditional Home Equity Line of Credit: Loan Amounts from $10,000 to $500,000 for single family and townhomes
  Variable APR*
Based on current WSJ Prime Index & Margin (if any)
Up to  80% LTV 5.500%
80.01% - 90.00% LTV 7.150%
90.01% - 95.00% LTV 7.250%
95.01% - 100.00% LTV 7.350%

*APR = Annual Percentage Rate. The rate will be the greater of WSJ Prime Rate plus your margin (if any), or 4.00% (floor). Lifetime maximum variable APR is 18%. All rates includes a 0.25% discount for automatic payments from an NIHFCU account. If automatic payment ceases before line is paid in full and terminated, the interest rate will increase by 0.25%. The rate will depend on the borrower’s credit score, loan-to-value (LTV) ratio, property type, automatic payment, and other factors we may lawfully consider. The max LTV for condominiums is 75.00%.

MINIMUM LINE OF CREDIT: The minimum Traditional Home Equity Line of Credit is $10,000.00.

MAXIMUM LINE OF CREDIT: The maximum Traditional Home Equity Line of Credit is $500,000.00 for less than 85.01% loan-to-value. The maximum Traditional Home Equity Line of Credit is $250,000.00 for 85.01% to 100.00% loan-to-value.

FEES AND CHARGES: Closing costs may range from $500 to $2,700 depending on property location and loan amount. Ask about how NIHFCU can pay most or all of your closing costs.

Get a customized rate quote, or call us at 855.203.4747 or request a free, no obligation Home Equity Check-up

Prime -1% Home Equity Line of Credit: Loan Amounts from $50,000 to $250,000 for single family and townhomes
  Variable APR*
Based on current WSJ Prime Index & Margin (if any)
Up to  80% LTV 4.500%

*APR = Annual Percentage Rate. The rate will be the greater of WSJ Prime Rate plus your margin (if any) minus 1.00%, or 4.00% (floor/minimum rate). Lifetime maximum variable APR is 18%. All disclosed rates assume a 0.25% discount for automatic payments from an NIHFCU account. If automatic payment ceases before line is paid in full and terminated, the interest rate will increase by 0.25%. The actual rate will depend on the borrower’s credit score, loan-to-value (LTV) ratio, property type, automatic payment, and other factors we may lawfully consider. The maximum LTV for condominiums is 60.00%.

MINIMUM LINE OF CREDIT: The minimum Prime -1% Home Equity Line of Credit is $50,000.00.

MAXIMUM LINE OF CREDIT: The maximum Prime -1% Home Equity Line of Credit is $250,000.00.

MINIMUM AVERAGE MONTHLY BALANCE REQUIREMENT: Borrower must maintain an average monthly balance on the line of credit of not less than $40,000 for the first 3 years following closing.

FEES AND CHARGES: Closing costs may range from $500 to $2,700 depending on property location and loan amount. Ask about how NIHFCU can help to pay most or all of your closing costs.

Get a customized rate quote, or call us at 855.203.4747 or request a free, no obligation Home Equity Check-up

Home Equity Loan: Loan Amounts from $5,000 to $250,000 for single family and townhomes
Term Interest Rate++
(as low as)
APR++
(as low as)
Monthly Payment
Per $1,000 Borrowed
5 Year 4.24% 4.499% $18.53
10 Year 4.62% 4.875% $10.42
15 Year 5.12% 5.373% $7.97
20 Year 5.49% 5.743% $6.87

++APR = Annual Percentage Rate. The lowest APRs shown are those available to borrowers with excellent credit on owner-occupied homes with a LTV (loan-to-value) of 80% or below and a loan amount of $75,000. All rates includes a 0.25% discount for automatic payment. The rate will depend on the borrower’s credit score, LTV ratio, property type, automatic payment, and other factors we may lawfully consider. The max LTV for condominiums is 75.00%. Payment example: For a $75,000 home equity loan for a term of 5 years @ 4.24% interest rate, the monthly payment will be $1,389.38.

MINIMUM LOAN AMOUNT: The minimum Home Equity Loan is $5,000.00.

MAXIMUM LOAN AMOUNT: The maximum Home Equity Loan is $250,000.00.

FEES AND CHARGES: Closing costs may range from $325 to $3,800 depending on property location and loan amount. Ask about how NIHFCU can pay most or all of your closing costs.

Get a customized rate quote, or call us at 855.203.4747 or request a free, no obligation Home Equity Check-up

 

 

NIHFCU offers home equity loans and lines secured by owner-occupied primary residences in MD, DC, VA, and WV (coming soon to NC). Restrictions and conditions apply.

Questions? Call 301.718.4747 or 855.203.4747 toll-free
Email: HomeEquity@nihfcu.org