Since an equity loan or HELOC uses your home as collateral, the interest rate is generally lower than other types of loans—saving you money. Plus, the interest may be tax deductible. Consult your tax advisor for details.
Decide which option is best for you:
|Home Equity Loan||Home Equity Line of Credit (HELOC)|
|Fixed rate||Variable rate|
|Available on primary residence1||Available on primary residence1|
|Apply once for a specific amount||Apply once, draw funds as needed|
|We'll pay up to $1,000 toward closing costs2||We'll pay up to $1,000 toward closing costs2|
|Earn up to 10,000 points on your NOW REWARDS Visa®||Earn up to 2,500 points on your NOW REWARDS Visa®|
Home equity loans and HELOCs not available in Texas.
1 Loan is limited to an 80% combined loan-to-value ratio (CLTV).
2 Northwest Federal will pay a $1,000 maximum closing cost credit towards Northwest Federal home equity loan and home equity line of credit (HELOC) secured by a primary residence. Credit may not exceed the actual costs and cannot be used to pay for the real estate appraisal (if one is required) and/or interim interest. This promotion cannot be combined with other offers and is subject to change without notice.
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