Home Equity

Home Equity Loans

Access cash to consolidate debt, pay for home renovations and more. Choose the home equity loan that works for you:

  • Home Equity Line of Credit* – Establish a credit line you can access any time for any purpose based on the equity you have in your home. No application fees and no out of pocket costs to establish!
  • Home Equity Fixed Rate & Term – Borrow a lump sum of money based on the equity you have in your home and repay in a specified time frame.  This type of home equity loan is great when you know exactly how much you need to borrow – and you can choose the time frame for repayment.
  • Home equity loans allow you to borrow money based on the value of your home to pay off debt, make home improvements or finance other large purchases.
  • *Choice Checking or Classic Checking required.

Apply online now, call to make an appointment at (603)224-7731 or visit us in Concord or Lee.

Home Equity Line of Credit (HELOC)

Rates effective June 1, 2024.

Loan To
Value Ratio
TermAPRIndex + Margin
1-80%Revolving4.99%*Prime +0

*HELOC discounted rate of 4.99% APR (Annual Percentage Rate) is fixed for the first 12 months. After the 12 months, the rate will vary based on the Wall Street Journal Prime Rate published on the last business day of the month. Prime Rate as of 7/27/2023 is 8.50%. The APR may increase after the loan is closed; maximum APR is 18% or the maximum permitted by law. The minimum line of credit is $25,000 and the maximum line of credit is $400,000. You are not required to carry a balance. During the 10-year draw period, if you made only the minimum monthly payment and took no other credit advances it would take 20 years to pay off a credit advance of $10,000 at an ANNUAL PERCENTAGE RATE of 7.5%. During that period, you would make 120 payments of $57.53 to $63.70, followed by 119 payments of $118.71 and one (1) final payment of $117.42. No closing costs at consummation, however you will be required to reimburse us for up to $1,050.00 in closing costs if the line is paid off and closed in the first three years. A tax adviser should be consulted regarding deductibility of interest or charges for HELOCs. HELOC is available for: 1-4 family residential properties or condos. Property cannot be listed for sale. Homeowner’s insurance is required. Flood insurance is required if the property is in a flood zone. NHFCU may lend to members only. Promotion starts 1/1/2024 and all rates, terms, and conditions are subject to change or be discontinued without notice.

Home Equity Fixed Rate, Closed End – First Lien

Rates effective June 1, 2024.

Loan To
Value Ratio
Term
(Months)
RateAPR*
1-60%60-844.79%*4.81%
85-1205.29%*5.31%
121-1805.79%*5.81%
61-80%60-845.29%*5.31%
85-1205.79%*5.80%
121-1806.29%*6.30%
Home Equity Fixed Rate, Closed End – Second Lien

Rates effective June 1, 2024.

Loan To
Value Ratio
Term
(Months)
RateAPR*
1-60%60-844.99%*5.01%
85-1205.49%*5.50%
121-1805.99%*6.00%
61-80%60-845.49%*5.51%
85-1205.99%*6.00%
121-1806.49%*6.50%
  • Up to 80% Combined Loan-to-Value or $400,000, whichever is less.
  • Min Loan $25,000
  • Max Loan $400,000
  • Cannot be in a flood zone

Payments don’t include amounts for taxes or insurance.

Payment estimates: Home Equity Loan 1st Lien: A $25,000 first lien home equity loan at 4.79% APR at 84 monthly payments of $350.89. Total finance charge is $4,474.41 for a total of all payments of $29,474.41.

Home Equity Loan 2nd Lien: A $25,000 second lien home equity loan at 4.99% with 84 monthly payments of $353.23. Total finance charge is $4,671.34 for a total of all payments of $29,671.34.

*Annual Percentage Rate. Fixed Rate Home Equity Loans. Annual Percentage Rate (APR) includes charges to process your loan. Other rates and terms may be available. Minimum amount is $25,000. Maximum loan amount is based on 80% CLTV (combined loan-to-value), or $400,000, whichever is less.

All rates and terms are subject to change without notice.  All loans are subject to credit requirements and NHFCU may lend to members only.  Property insurance is required. Flood insurance is required if the property is in a flood zone.

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