Membership in Northrop Grumman Federal Credit Union means co-ownership in one of the strongest credit unions in the country.
HELOC
The NGFCU™ Home Equity Line of Credit (HELOC) with its generous $650 fee allowance* provides a variety of flexible options to help with home improvements, auto purchases, college education, bill consolidation, weddings, and any number of other significant events that occur in daily living. Your home and a NGFCU™ HELOC can provide lower costs and tax deductibility† for virtually every borrowing need.
*The fee allowance must be reimbursed by borrower if line is closed within 2 years of the original note date.
†Check with your tax advisor for your individual tax situation.
Summary
The HELOC provides a revolving line of credit up to $200,000, secured by home equity. Members accrue interest only on the amount of pre-approved funds used. The HELOC has one of the lowest rates available and a variable rate cap of 3% per year and 6% for the life of the loan.
Members can elect a very low fixed rate on 60% of the HELOC approved limit. See more details below.
Qualifying properties include owner-occupied, 1 to 4 units in Arizona, California, Colorado, Florida, Illinois, Maryland, Oklahoma, Pennsylvania, Virginia, Washington and Washington, D.C. Subject to credit worthiness, income and equity verification.
NGFCU™ HELOC offers cash for any purpose:
Home improvement
Autos, trucks, boats, and RVs
Special vacations
Unique investment opportunities
Help building your business
College tuition
Consolidate monthly payments
Pay medical bills
Meet unexpected obligations
and offers a variety of benefits to members:
A generous $650 fee allowance* to cover application fees and closing costs
Revolving line of credit up to $200,000 based on the equity (minimum $25,000 revolving line)
10 year draw period
Low minimum monthly payment
No prepayment penalty
No yearly "maintenance" fee
Up to 15 year repayment term
Low variable rate
Maximum rate cap of 3% per year and 6% for the life of the loan
Interest may be tax deductible; consult your tax advisor for actual deductibility
Loan to value ratio up to 80% less the balance of the 1st Trust Deed
Owner occupied 1 to 4 units
Elect a very low fixed rate:
Up to 60% of approved limit
Minimum draw $10,000 per disbursement
Up to three (3) separate fixed rate disbursements (no add-ons)
Rate determined on the 5th of each month
Fixed advances must have a maturity date on or before the maturity date of the master HELOC
Mailing Address
Box Number 47009
Gardena, CA 90247-6809
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Are you still paying a high interest rate on your InfiBank One Card?
Apply for the NGFCU MasterCard
and get a 4.99% APR for the first 5 billing cycles. Click here to apply for the NGFCU MasterCard and get the value you deserve.
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other web sites linked from the
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other web sites linked from the
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other web sites linked from the
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other web sites linked from the
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other web sites linked from the
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other web sites linked from the
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You are leaving the Northrop Grumman Federal Credit Union web site.
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other web sites linked from the
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other web sites linked from the
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other web sites linked from the
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You are leaving the Northrop Grumman Federal Credit Union web site.
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other web sites linked from the
Northrop Grumman Federal Credit Union web site.
You are leaving the Northrop Grumman Federal Credit Union web site.
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