Interest-Only Fixed Equity Loan

An Interest-Only Fixed Rate Loan reduces your monthly expenses up front with set, interest-only payments the first five years of the loan. Beginning the sixth year, your payment increases to include principal and interest.

Unlike adjustable rate and other interest-only products on the market, the payments and interest of a Navy Federal Interest-Only Fixed Equity Loan are known up front for the life of the loan. There are no surprises. No hidden fees. You can enjoy the security of knowing how to budget your payments up front. And it gives you the flexibility to manage your finances more effectively.

• .25% rate discount with automatic payments¹
• 20-year term
• Borrow up to 80%² of the property value
• Fixed rate for the life of the loan
• Payments known up front
• Limited-time offer! Pay no lender closing costs on your Equity Loans³

View payment example.

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1. Rate discount is applied after your application has been accepted. Discount is available for new Equity Loan applications. You must set up and maintain monthly recurring automatic payments from your Navy Federal checking account for the life of the loan, otherwise your rate will increase by .25% to your original Note rate. Maximum 80% combined loan-to-value (CLTV). The minimum APR that may be imposed is 3.99%. The maximum APR that may be imposed is 18%.

2. Some restrictions may apply. The maximum combined loan-to-value for investment properties is 70%.

3. Limited offer. Navy Federal will pay closing costs (excluding government recording charges and title insurance) on new equity loan applications (Fixed Equity Loans/Lines of Credit). Loans paid off and closed in less than 3 years from the loan origination date will require reimbursement of all closing costs paid by Navy Federal. For loan/line amounts up to $250,000, closing costs typically range between $150 and $900. The closing costs depend on the location of the property and the amount of the Equity Loan. Offer excludes Equity Loans/Lines of Credit used for a home purchase and the appraisal fee, if an appraisal is necessary.

A sample Fixed Equity Loan payment based on $100,000 at 7.00% APR for 20 years is $775.30.