Navy Federal Credit Union is a credit union, not a bank, and that is the first thing to know about it. You cannot borrow here unless you can join, and Navy Federal limits membership to people connected to the armed forces: active duty across all six services, veterans regardless of length of service, immediate family including spouses, siblings, parents, children, grandparents and grandchildren, and Department of Defense civilians including contractors, retirees and annuitants. If none of those describes you, the rates below are not available to you at any credit score.
It offers two home equity products, a line of credit and a fixed-rate lump sum loan, and is actively taking applications for both.
The line of credit has a 20-year draw period followed by a 20-year repayment period. That draw period is double what every other lender recorded on this site offers, and it is worth understanding rather than skimming: it means two decades during which you can keep borrowing, and a fortieth year before the balance is finally due.
Every rate Navy Federal publishes is a floor. Its rates table is headed “APR As Low As”, and it publishes no range for any of its seven advertised rates. The 7.000% on the line of credit assumes a 750 credit score, a primary residence and a 70% maximum high credit loan-to-value, and Navy Federal adds “so your rate may differ.” We show these figures as floors rather than as rates because that is what they are.
Two of its disclosures are easy to misread and we have not recorded either at face value. Navy Federal says a HELOC “has a minimum APR of 3.99% and a maximum APR of 18%”. That is the band the rate may move within over the life of the plan, not a rate anyone is offered, and it appears nowhere below as a rate. It also says you can “borrow up to 95% of your home’s equity” on the line and “100% of your home’s equity” on the loan. Equity is not the same quantity as combined loan to value, and Navy Federal publishes no CLTV, LTV or HLTV limit anywhere, so no maximum CLTV is recorded here.
It charges no application, origination, annual or inactivity fee on the line of credit, and no application or origination fee on the loan, and states that it pays closing costs on both. Costs that fall to the member anyway, such as escrow, prepaid interest and insurance, are third-party costs rather than Navy Federal charges and are described below rather than counted as fees.
HELOCs are not available in Texas. Navy Federal states that about the line of credit only. It says nothing about Texas and the fixed-rate loan, and we have not assumed anything. It publishes no list of the states it does lend in, for either product.
Navy Federal home equity products at a glance
Last checked: August 26, 2026
Navy Federal Fixed-Rate Equity Loan
Home Equity Loan
A fixed-rate lump sum loan in 5, 10, 15 and 20 year terms, each advertised at its own floor rate starting from 7.340% APR for the 5-year term. Amounts run from $10,000 to $500,000. Navy Federal charges no application or origination fee and states it will pay all closing costs, though its own wording about what a member may pay differs from the wording on its line of credit. Borrowing is limited to Navy Federal members. Navy Federal does not publish a maximum CLTV, a minimum credit score or the states it lends in, and says nothing about Texas for this product.
- APR or rate as low as 7.34%
- Fixed or variable rate Fixed
- Borrowing range $10,000 to $500,000
- Application fee None
- Origination fee None
The lender also states: Navy Federal lends only to its members, so eligibility is a condition on borrowing at all, not a detail. From its own membership page: "Who can join Navy Federal? ... Active Duty—including members of the Army, Marine Corps, Navy, Air Force, Coast Guard, National Guard and Space Force. Veterans—no matter how long you served, you're in! Immediate Family Members—including spouses, siblings, parents, children, grandparents and grandchildren. Department of Defense (DoD) Civilians—including employees, contractors, retirees and annuitants." On the product itself, Navy Federal publishes: "Borrow up to 100% of your home's equity". Equity is not the same quantity as combined loan to value, and Navy Federal states no CLTV, LTV or HLTV limit anywhere, so no maximum CLTV is recorded here and none should be worked out from that sentence. Terms of 5, 10, 15 and 20 years are offered and each carries its own advertised floor rate. The 7.340% is an advertised floor for the 5-year term, not a rate on offer. The full disclosure reads: "Home equity loans are fixed-rate loans. Rates are as low as 7.340% APR and assume a 750 FICO, primary residence, and a 70% maximum HLTV on a 5-year term. Rates are based on loan term, credit history, loan-to-value (LTV)/combined loan-to-value (CLTV)/high credit loan-to-value (HLTV) ratio, loan amount, and occupancy, so your rate may differ. ... Navy Federal will pay for all closing costs on fixed-rate equity loan applications. For loan amounts up to $250,000, closing costs that members may pay typically range between $300 and $2,000. ... The member is responsible for escrow payments and/or prepaid costs, if required, including property taxes and assessments, homeowners’ and flood insurance premiums, association fees/dues and assessments, and prepaid interest. You must carry homeowners’ insurance on the property that secures this plan." Navy Federal says nothing about Texas for this product; its Texas exclusion is stated for the line of credit only, and nothing is inferred here.
The lender also states: The 7.650% is an advertised floor for this term, not a rate on offer. Navy Federal states that rates "are based on loan term, credit history, loan-to-value (LTV)/combined loan-to-value (CLTV)/high credit loan-to-value (HLTV) ratio, loan amount, and occupancy, so your rate may differ." Navy Federal lends only to its members, so eligibility is a condition on borrowing at all, not a detail. From its own membership page: "Who can join Navy Federal? ... Active Duty—including members of the Army, Marine Corps, Navy, Air Force, Coast Guard, National Guard and Space Force. Veterans—no matter how long you served, you're in! Immediate Family Members—including spouses, siblings, parents, children, grandparents and grandchildren. Department of Defense (DoD) Civilians—including employees, contractors, retirees and annuitants."
The lender also states: The 7.950% is an advertised floor for this term, not a rate on offer. Navy Federal states that rates "are based on loan term, credit history, loan-to-value (LTV)/combined loan-to-value (CLTV)/high credit loan-to-value (HLTV) ratio, loan amount, and occupancy, so your rate may differ." Navy Federal lends only to its members, so eligibility is a condition on borrowing at all, not a detail. From its own membership page: "Who can join Navy Federal? ... Active Duty—including members of the Army, Marine Corps, Navy, Air Force, Coast Guard, National Guard and Space Force. Veterans—no matter how long you served, you're in! Immediate Family Members—including spouses, siblings, parents, children, grandparents and grandchildren. Department of Defense (DoD) Civilians—including employees, contractors, retirees and annuitants."
The lender also states: The 8.350% is an advertised floor for this term, not a rate on offer. Navy Federal states that rates "are based on loan term, credit history, loan-to-value (LTV)/combined loan-to-value (CLTV)/high credit loan-to-value (HLTV) ratio, loan amount, and occupancy, so your rate may differ." Navy Federal lends only to its members, so eligibility is a condition on borrowing at all, not a detail. From its own membership page: "Who can join Navy Federal? ... Active Duty—including members of the Army, Marine Corps, Navy, Air Force, Coast Guard, National Guard and Space Force. Veterans—no matter how long you served, you're in! Immediate Family Members—including spouses, siblings, parents, children, grandparents and grandchildren. Department of Defense (DoD) Civilians—including employees, contractors, retirees and annuitants."
Sources checked: August 26, 2026
Reviewed by Michael Yanda
Last reviewed: August 26, 2026
How we produce these figures: methodology and data standards
Detailed terms
Standard terms we checked the lender's page on August 26, 2026.
- Minimum borrowing amount
- $10,000
- Maximum borrowing amount
- $500,000
- APR or rate
- as low as 7.34%
- Fixed or variable rate
- Fixed
Applies when: Applies to the 10-year term. Navy Federal advertises a different floor rate for each term it offers.
- Minimum borrowing amount
- $10,000
- Maximum borrowing amount
- $500,000
- APR or rate
- as low as 7.65%
- Fixed or variable rate
- Fixed
Applies when: Applies to the 15-year term. Navy Federal advertises a different floor rate for each term it offers.
- Minimum borrowing amount
- $10,000
- Maximum borrowing amount
- $500,000
- APR or rate
- as low as 7.95%
- Fixed or variable rate
- Fixed
Applies when: Applies to the 20-year term. Navy Federal advertises a different floor rate for each term it offers.
- Minimum borrowing amount
- $10,000
- Maximum borrowing amount
- $500,000
- APR or rate
- as low as 8.35%
- Fixed or variable rate
- Fixed
Fees
- Application fee
- None
- Closing costs paid to a third party
- None Navy Federal states it pays these: "Navy Federal will pay for all closing costs on fixed-rate equity loan applications. Covered closing costs include lender fees and fees paid to third parties, such as settlement fees, credit reports, flood determinations, property valuations (including appraisals, if required), title searches, lender's title insurance, recording, mortgage transfer taxes, and government charges." Its next sentence is worded differently from the equivalent one on its line of credit: here it says "closing costs that members may pay typically range between $300 and $2,000", where the HELOC disclosure omits "that members may pay". Navy Federal does not reconcile the two, and neither do we. Separately, and not covered: "The member is responsible for escrow payments and/or prepaid costs, if required, including property taxes and assessments, homeowners' and flood insurance premiums, association fees/dues and assessments, and prepaid interest."
- Origination fee
- None
Information we could not verify publicly 11
We could not confirm the following in the lender's published materials. That does not mean no requirement exists, so ask the lender directly if you need one of these figures.
- State availability
- Eligible property types
- Occupancy requirements
- Introductory or promotional APR
- Maximum CLTV
- Maximum LTV
- Minimum credit score
- Maximum debt to income
- Draw period
- Repayment period
- Appraisal or valuation
Source & evidence source: lender · checked August 26, 2026 · researched by Chris, our AI research agent · reviewed by Michael Yanda
Navy Federal Fixed-Rate Equity Loan, 5-year term
Product details, from the fixed-rate page: "No closing costs · Borrow up to 100% of your home's equity · Available min/max loan amount: $10,000 - $500,000 · Fixed rate for the life of the loan · No application or origination fee · Lump sum amount · Term: 5-, 10-, 15-, 20-year". The rate is published as "Rate: APR as low as: 7.340%" with "Rate above for 5-year term", and in a rates table whose column header reads "APR As Low As": "Fixed Equity 5 Years | 7.340% | $500,000". Navy Federal states no effective date of its own for these figures.
Navy Federal Fixed-Rate Equity Loan, 10-year term
From the rates table, under a column headed "APR As Low As": "Fixed Equity 10 Years | 7.650% | $500,000".
Navy Federal Fixed-Rate Equity Loan, 15-year term
From the rates table, under a column headed "APR As Low As": "Fixed Equity 15 Years | 7.950% | $500,000".
Navy Federal Fixed-Rate Equity Loan, 20-year term
From the rates table, under a column headed "APR As Low As": "Fixed Equity 20 Years | 8.350% | $500,000".
Navy Federal Home Equity Line of Credit
HELOC
A variable-rate line of credit tied to the U.S. Prime Rate, with a 20-year draw period followed by a 20-year repayment period. That draw period is double what every other lender recorded here offers. Navy Federal advertises rates as low as 7.000% APR and publishes no rate range, so every figure below is a floor rather than a rate. It charges no application, origination, annual or inactivity fee and states it will pay all closing costs. Interest-only and investment-property versions are priced separately and carry lower maximum amounts. Borrowing is limited to Navy Federal members. HELOCs are not available in Texas. Navy Federal does not publish a maximum CLTV, a minimum credit score or the states it lends in.
- APR or rate as low as 7% tied to U.S. Prime Rate
- Fixed or variable rate Variable
- Draw period 20 years (240 months)
- Repayment period 20 years (240 months)
- Borrowing range $10,000 to $500,000 (conditions apply)
- Annual fee None
- Application fee None
- Origination fee None
Different limits apply where occupancy is Investment Property.
The lender also states: Navy Federal lends only to its members, so eligibility is a condition on borrowing at all, not a detail. From its own membership page: "Who can join Navy Federal? ... Active Duty—including members of the Army, Marine Corps, Navy, Air Force, Coast Guard, National Guard and Space Force. Veterans—no matter how long you served, you're in! Immediate Family Members—including spouses, siblings, parents, children, grandparents and grandchildren. Department of Defense (DoD) Civilians—including employees, contractors, retirees and annuitants." On the product itself, Navy Federal publishes: "Borrow up to 95% of your home’s equity". Equity is not the same quantity as combined loan to value, and Navy Federal states no CLTV, LTV or HLTV limit anywhere, so no maximum CLTV is recorded here and none should be worked out from that sentence. The 7.000% figure is an advertised floor, not a rate on offer. Its full disclosure reads: "Home equity lines of credit (HELOC) are variable-rate lines. Rates as low as 7.000% APR and 8.000% for interest-only assume a 750 FICO, primary residence, and a 70% maximum HLTV. Rates are based on credit history, loan-to-value (LTV)/combined loan-to-value (CLTV)/high credit loan-to-value (HLTV) ratio, loan amount, and occupancy, so your rate may differ. A HELOC has a minimum APR of 3.99% and a maximum APR of 18%. ... Navy Federal will pay for all closing costs on HELOC applications. ... The member is responsible for prepaid interest and escrow payments for first-lien HELOCs. Members must carry homeowners’ insurance on the property that secures the HELOC. For loan amounts up to $250,000, closing costs typically range between $300 and $2,000. Applications for a HELOC include a request for a Home Equity Credit Card. All loans subject to approval. Offer is subject to change or cancellation without notice. Rates are subject to change. HELOC loans are not available in Texas." The 3.99% is the lowest rate the plan may ever reach over its life, not a rate anyone is offered today, and the 18% is the corresponding lifetime ceiling. Neither is an advertised rate.
The lender also states: Navy Federal's own warning about this version: "Members who choose to proceed with an interest-only HELOC may experience significant monthly payment increases when the line of credit enters the repayment phase." The 8.000% is an advertised floor and assumes "a 750 FICO, primary residence, and a 70% maximum HLTV", and Navy Federal adds "so your rate may differ". Navy Federal lends only to its members, so eligibility is a condition on borrowing at all, not a detail. From its own membership page: "Who can join Navy Federal? ... Active Duty—including members of the Army, Marine Corps, Navy, Air Force, Coast Guard, National Guard and Space Force. Veterans—no matter how long you served, you're in! Immediate Family Members—including spouses, siblings, parents, children, grandparents and grandchildren. Department of Defense (DoD) Civilians—including employees, contractors, retirees and annuitants."
The lender also states, where occupancy is Investment Property: The 9.000% is an advertised floor. Navy Federal states that rates "are based on credit history, loan-to-value (LTV)/combined loan-to-value (CLTV)/high credit loan-to-value (HLTV) ratio, loan amount, and occupancy, so your rate may differ." Navy Federal lends only to its members, so eligibility is a condition on borrowing at all, not a detail. From its own membership page: "Who can join Navy Federal? ... Active Duty—including members of the Army, Marine Corps, Navy, Air Force, Coast Guard, National Guard and Space Force. Veterans—no matter how long you served, you're in! Immediate Family Members—including spouses, siblings, parents, children, grandparents and grandchildren. Department of Defense (DoD) Civilians—including employees, contractors, retirees and annuitants."
Detailed terms
Standard terms we checked the lender's page on August 26, 2026.
- Minimum borrowing amount
- $10,000
- Maximum borrowing amount
- $500,000
- APR or rate
- as low as 7%
- Fixed or variable rate
- Variable
- Draw period
- 20 years (240 months)
- Repayment period
- 20 years (240 months)
Applies when: Applies to the interest-only version of the line, which Navy Federal prices and caps separately from its standard line. The maximum amount is half that of the standard line.
- Minimum borrowing amount
- $10,000
- Maximum borrowing amount
- $250,000
- APR or rate
- as low as 8%
- Fixed or variable rate
- Variable
Applies when: occupancy is Investment Property
- Occupancy requirements
- Investment Property
- Minimum borrowing amount
- $10,000
- Maximum borrowing amount
- $100,000
- APR or rate
- as low as 9%
- Fixed or variable rate
- Variable
Fees
- Annual fee
- None
- Application fee
- None
- Closing costs paid to a third party
- None Navy Federal pays these rather than the member. It states: "Navy Federal will pay for all closing costs on HELOC applications. Covered closing costs paid to third parties include settlement fees, credit reports, flood determinations, property valuations (including appraisals, if required), title searches, lender's title insurance, recording, and government charges." The same disclosure then says "For loan amounts up to $250,000, closing costs typically range between $300 and $2,000", which is the size of the bill Navy Federal is covering. Separately, and not covered: "The member is responsible for prepaid interest and escrow payments for first-lien HELOCs" and "Members must carry homeowners' insurance on the property that secures the HELOC." Those are third-party costs of closing, not Navy Federal charges, and no figure is published for them.
- Inactivity fee
- None
- Origination fee
- None
Information we could not verify publicly 8
We could not confirm the following in the lender's published materials. That does not mean no requirement exists, so ask the lender directly if you need one of these figures.
- State availability
- Eligible property types
- Introductory or promotional APR
- Maximum CLTV
- Maximum LTV
- Minimum credit score
- Maximum debt to income
- Appraisal or valuation
Source & evidence source: lender · checked August 26, 2026 · researched by Chris, our AI research agent · reviewed by Michael Yanda
Navy Federal HELOC, standard terms
Product details, from the HELOC page: "No closing costs · Convenient access to your funds with the included Home Equity Credit Card · Borrow up to 95% of your home’s equity · Min/max loan amount: $10,000 - $500,000 · Variable rate based on the U.S. Prime Rate · No application, origination, annual or inactivity fee · Interest-only option available" and "Term: 20-year draw period, followed by 20-year repayment period". The rate is published under a heading that reads "Rate: APR as low as: 7.000%", and on the rates page in a table whose column header is literally "APR As Low As". Navy Federal publishes no rate range for this product and states no effective date of its own; its rates page says only "Rates displayed are effective as of today’s date", which is why no lender effective date is recorded and currency is measured from the date we read the page.
Navy Federal HELOC, interest-only option
From the rates table, under a column headed "APR As Low As": "Home Equity Line - Interest Only | 8.000% | $250,000". The disclosure states "Rates as low as 7.000% APR and 8.000% for interest-only assume a 750 FICO, primary residence, and a 70% maximum HLTV."
Navy Federal HELOC, investment property
From the rates table, under a column headed "APR As Low As": "Home Equity Line - Investment | 9.000% | $100,000". Occupancy is recorded from the product name Navy Federal itself uses.
What these terms mean
- CLTV, combined loan to value
- Everything secured against the property, added together, divided by the property value. A maximum CLTV of 85% on a $500,000 home means the first mortgage plus the new borrowing cannot exceed $425,000.
- LTV, loan to value
- The same idea for a single loan rather than the combined total.
- Draw period and repayment period
- The draw period is when you can take money out. When it ends, the repayment period begins, you can no longer draw, and payments are often significantly higher.
- Our interpretation
- A figure we worked out from what the lender published, rather than a number the lender states outright.
Our guide to how a HELOC works explains these in more depth.
About this information
Financial data is based on information published by the lender. Important conditions that affect a rate, limit, or other figure are shown with that information. We identify values we have interpreted or calculated rather than treating them as directly published by the lender.
We are not a bank, a lender or a broker, we have no relationship with the lenders listed here, and this is not a recommendation. Terms change. Always confirm directly with the lender before applying.