Home Equity Loans

Home improvements...bill consolidation...your child's education...your dream vacation. No matter what your big ideas are, Neighbors Credit Union has a solution for you—a low-interest home equity loan.

At Neighbors, we build fixed and line of credit home equity loans to fit the unique needs and lives of our St. Louis community members, all in a friendly, smaller environment that reminds you of a home itself. Neighbors ensures its members receive the lowest available home equity loan rates with terms that best fit their situation. We are a not-for-profit, which gives us the freedom to do what's right for you.

Want $2,019 To Make Your 2019 Dreams Come True?

Do you have big ideas for a home rejuvenation, renovation or a long-awaited vacation? Whatever you have planned, we want to see it!  Share a photo of your improvement/project/idea on Neighbors’ Facebook, Twitter or Instagram pages with the #FlooredByNeighbors hashtag and open your Home Equity Line of Credit (HELOC) before June 30, 2019, and you will be entered to win $2,019.That is a lot of extra cash to turn your 2019 dream into a reality!

Our Home Equity Line of Credit offers:

  • A low 12-month introductory rate of 1.99% APR2
  • Variable rates as low as 5.50%2
  • No closing costs
  • Flexibility to borrow funds when you need them
  • Fast turnaround time

Whether you are looking to make repairs, update your landscaping, enhance your home’s curb appeal or even build an entirely new addition, our HELOC loan has you covered!

Click here for contest details or contact us at 314-892-5400 to get started on your Home Equity Line of Credit today!

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 that are fixed for 12 months as low as 1.99% APR with checking and direct deposit and no closing costs3
  • Without checking and direct deposit, the introductory rate would be 2.95% APR.3
  • Current variable rates as low as 5.50% APR3
  • No appraisal or balance transfer fees3
  • No sudden jumps in monthly payments - rate adjusts once a year
  • Free pre-approvals and fast turn around time

 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 home equity 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.

  • Low rates on our fixed Home Equity loan with no closing costs4
  • No appraisal or balance transfer fees4
  • No sudden jumps in monthly payments
  • Free pre-approvals and fast turn around time

 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 loan without paying for closing costs.3 It’s all about having a plan, before you ever sign the dotted line. Let’s dream, together.

If you have any questions, please contact us at (314) 892-5400.

Apply

 

Apply For A Home Equity Loan

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

  • Online - Apply online 
  • Mobile App – Apply on our mobile banking app
  • 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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1Odds of winning depending on amount of entries received. Must share picture on Neighbors social media platform and close on HELOC by June 30, 2019 to be entered.  2APR=Annual Percentage Rate. Rates are variable and accurate as of 06/01/2019. Introductory rate is applicable for first year of loan. Rate is subject to change and credit qualifications. Rate includes 0.25% discount for checking and direct deposit. No additional discounts. Had there not been a rate discount, the applicable rate would have been 5.50% APR. APR adjusts annually during the life of the loan based on the Prime Rate published in The Wall Street Journal, plus a margin based on creditworthiness. 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. Not valid for existing Neighbors HELOCs. Other rates and terms available. Member eligibility required. Restrictions apply. See Neighbors Credit Union for full details. 3APR=Annual Percentage Rate. Rates are variable and accurate as of 04/01/2019. Introductory rate is applicable for first year of loan with checking and direct deposit. 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 5.50% 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. 4APR=Annual Percentage Rate. Second Lien Home Equity Rates are variable and accurate as of 04/01/2019. 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.