Three Reasons to Tap Into Your Home's Equity

The equity in your home is a ready source of low cost funds for almost any purpose. Here are 3 good reasons to consider tapping into your home's equity.

1. You have a major expense that requires financing. Things like:

  • home repair or improvement to add an extra bedroom or a pool
  • energy upgrades like solar panels
  • special events such as a wedding
  • the opportunity to build a business

2. Consolidate other high interest debt to lower your rate.

The national average annual percentage rate for credit cards is 17.27% according to You might have student loans, retail store credit cards or other high cost debt too. Consolidating with a home equity line of credit at a much lower rate makes good financial sense.

3. Take advantage of today's low rates.

Interest rates are still low, so now is a good time to consider a home equity line of credit. For example, NGFCU recently dropped its HELOC variable rate form 4.00% Annual Percentage Rate (APR) to 3.75% APR.1 Rates may rise again in the future, so it might be a smart move to lock up a low rate soon.

Does a HELOC make sense for you? Contact us to find out. Call 800.633.2848 or email If you are ready to refinance, you can apply online.

1. APR = Annual Percentage Rate. As of March 5, 2020, this interest rate is 4.00% variable and subject to change monthly. The APR is based on the average of the 11th District Cost of Funds and US Treasury Securities adjusted to a constant maturity of 1 year, rounded to the nearest 0.25%, with an added margin of 2.75 percentage points. Maximum rate increase cap of 3 percentage points per year and 6 percentage points for the life of the loan. Maximum CLTV is 70%.

If you are using a screen reader and need assistance using this website, please call 800-633-2848.

Mailing Address
Box Number 47009
Gardena, CA 90247-6809
Call Center
Monday - Friday
5 a.m. - 6 p.m. Pacific

If you are using a screen reader and are having problems using this website, please call 800-633-2848 for assistance.
©2017 Northrop Grumman Federal Credit Union. All Rights Reserved.