Home Equity

Vacations, College, Cash—What’s Inside Your Home?

You put plenty of time, money and effort into your home. And now that you’ve built some equity, it’s time to make those “someday” dreams happen! Open the door to opportunity—with a home equity loan or line of credit from NRLFCU.  We will lend you up to 100% of the value of your home and beyond.

Your home is more than a dwelling—it’s a great financial resource.  Put that equity to work for you and get cash for just about anything. From a new kitchen to a classic car. College tuition to a wildlife safari. We’ll walk you through the loan process and help you pick the best home equity loan or line of credit for you.

OPTIONS AT YOUR DOORSTEP

We offer a wide variety of home equity programs. What’s more, all home equity loans and lines of credit are available for non-owner occupied properties, too.  Choose from:

1. Home Equity Line of Credit with a variable- or fixed-rate up to 100% LTV.

  • Qualify and you can borrow from $10,000 up to $500,000 in a variable rate line of credit.
  • Save on closing costs. NRLFCU pays up to $1,500.
  • Rate is based on the prime rate and has a lifetime cap of 15% APR. Check out the current rates.
  • Access your line for up to 10 years then take another 15 years to repay the amount you actually use.

2. Equity Express with a variable-rate home equity line of credit, up to $50,000.

  • Qualify and you can borrow from $5,000 up to $50,000 or 80% loan to value (LTV), whichever is less.
  • Save on closing costs. NRLFCU pays up to $1,500.
  • Rate is based on the prime rate and has a lifetime cap of 15% APR.
  • Access your line for up to five years then take another 10 years to repay the amount you actually use.

3. Home Equity Loan with a fixed rate and term.

  • Qualify and you can borrow from $10,000 up to $500,000.
  • Save on closing costs. NRLFCU pays up to $1,500.
  • Low fixed interest rate stays the same for the 10-year term.
  • Access your line for up to five years then take another five years to repay the amount you actually use.

4. Unsecured Home Improvement Loan with no equity required and loan amounts up to $25,000.

  • Qualify and you can borrow up to $25,000 for home improvements only.
  • No equity required.
  • Save with NO closing costs.
  • Low fixed interest rate stays the same for the life of the 10-year loan.

CASH, SWEET CASH

Many other financial institutions let you finance only 80% loan-to-value (LTV). But at NRLFCU, you can finance up to 100% through most of our programs and, in most cases, we will pay all closing costs.

Ready to do the math? Our easy Equity Available calculator can help.