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Home Equity Line of Credit (HELOC)
Our low variable-rate HELOC lets you borrow what you want, when you need it – giving you full control of your finances and the interest you pay. Draw funds whenever you need them for repairs, improvements or to consolidate your expenses into one manageable low monthly payment. Plus, we’ll pay your closing costs!1,3
Benefits & Highlights
- No closing costs1,3, provided the line stays open for at least 24 months (Member is responsible for appraisal fee and interim interest expense)
- No points
- Loan amounts from $5,000 to $350,000
- Available on owner-occupied properties in DC, MD, VA, PA and FL2
- Free, personalized access checks that can be used anytime, anywhere
- The ability to borrow up to 80% of the value of the property, less the outstanding first mortgage
- Interest paid may be tax deductible (consult your tax advisor for details)
BONUS BENEFIT
Earn 2,500 mileage points on your NWFCU Member Rewards MasterCard®. More.
1 Member is responsible for appraisal fee and interim interest expense. Refinancing an existing NWFCU HELOC may incur closing costs. No closing cost offer is only available for owner-occupied properties.
2 Contact the Mortgage Department to see if other states have been added.
3For line of Home Equity Lines of Credit amounts up to $350,000, closing costs typically range between $150 and $4,200. The closing costs depend on the location and occupancy of the property and the amount of the Equity Loan.
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