Home Equity Loans

Home improvements...bill consolidation...your child's education...your dream vacation…Neighbors Credit Union has a solution to your big ideas—a low-interest, tax-deductible2 home equity.

At Neighbors, we build fixed and line of credit home equity loans to fit the unique needs and lives of our members, all in a friendly, smaller environment that reminds you of a home itself. Neighbors is also not-for-profit, which gives us the freedom to do what's right for you.

 

Home Equity Line of Credit (HELOC)

With a Home Equity Line of Credit (HELOC), you can access this revolving line of credit (up to 90% of your equity) anytime you need it, including with free checks and online advances. This loan is ideal for you if you plan on accessing your funds for varying amounts at varying times. You can use the funds for anything you choose!

  • Introductory rates as low as 2.95% APR that are fixed for 12 months with no closing costs1
  • Current variable rates as low as 4.25% APR1
  • No appraisal or balance transfer fees
  • No sudden jumps in monthly payments - rate adjusts once a year
  • Free pre-approvals and fast turn around time
  • Tax deductible interest2

 Apply

 

Home Equity Closed End

With a Home Equity Closed End loan, you can apply for a specific one time amount (up to 90% of your equity) and payments won't change for the life of the loan. This loan is ideal for you if you know exactly how much you need and only require a one-time payout. In return, your payments will be a fixed amount over set period of time, giving your budget more stability.

  • Rates as low as 4.74% APR on our fixed Home Equity loan with no closing costs3
  • No appraisal or balance transfer fees
  • No sudden jumps in monthly payments
  • Free pre-approvals and fast turn around time
  • Tax deductible interest2

 Apply

 

8-Year & 12-Year Home Refinances

At Neighbors, we believe your home equity can make big dreams come true - including retiring without mortgage payments. With this special first-lien loan, you can take advantage of historically low rates and refinance your existing mortgage without paying for closing costs. It’s all about having a plan, before you ever sign the dotted line. Let’s dream, together.

  • Low, fixed rate as low as 4.00% APR4 for 8 years
  • Low, fixed rate as low as 4.25% APR4 for 12 years

If you have any questions, please contact Elizabeth at 314-892-5400, ext. 11045.

Apply

 

Apply For A Home Equity Loan

There are several easy ways to apply for a Neighbors Credit Union loan.

  • Online - Apply online and receive a response in seconds.
  • Mobile App – Apply on our mobile banking app and receive a response in seconds
  • Phone - Call 1-888-207-5363 anytime of day, seven days a week.
  • Fax - Pick up a loan application from one of our locations and fax it to 314-892-9839.
  • Branch - Visit one of our locations and speak with a Member Service Representative.

Apply     Calculator     Educational Resources     ECOA Information

 

NMLS

The Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act) established a national registry for mortgage loan originators called the Nationwide Mortgage Licensing System and Registry (NMLS). This registry is maintained by the federal government and assigns each registered professional a unique identification number that is provided to consumers upon request and on certain loan documentation. Additionally, each financial institution is provided with a unique identification number. The Credit Union’s NMLS ID number is 509288.

 

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1APR=Annual Percentage Rate. Rates are variable and accurate as of 01/03/2017. Introductory rate is applicable for first year of loan. Rate is subject to change and is subject to credit qualifications. Other rates and terms are available. No additional discounts. Had there not been a rate discount, the applicable rate would have been 4.25% APR. The APR will adjust annually during the life of the loan based on the Prime Rate published in The Wall Street Journal, plus a margin that is based on credit worthiness. Maximum APR is 15.0%. If loan is paid off and closed within 24 months from opening of loan, member must reimburse the credit union for fees paid. Consult a tax advisor concerning tax deductibility. Refinancing of current Neighbors Credit Union HELOCs is ineligible. Other rates and terms are available. Membership eligibility required. Restrictions apply. Contact Neighbors Credit Union for details.
2Consult a tax advisor concerning tax deductibility.
3APR=Annual Percentage Rate. Rates are variable and accurate as of 01/20/2014. Rate is for a second lien loan fixed home equity loan. Refinances of existing balances is ineligible. Other rates and terms are available. If loan is paid off and closed within 24 months from opening of loan, member must reimburse the credit union for fees paid. Membership eligibility required. Restrictions apply. Contact credit union for details.
4APR=Annual Percentage Rate. The APRs shown are the lowest available. Rates and terms subject to credit qualifications and other factors and are subject to change. Rate is for a Home Equity Closed End Fixed-Rate, First Lien loan. Refinancing of existing Neighbors Credit Union loans ineligible unless an additional advance of at least $40,000 is taken. Rate includes .25% discount for checking, direct deposit and automatic payments and an additional .25% off for 80% or less loan to value. If loan is paid off and closed within 24 months of opening of loan, member must reimburse the credit union for fees paid. Consult a tax advisor concerning tax deductibility. Additional rates and terms available. Membership eligibility required. Restrictions apply. Contact credit union for full details.