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 offer 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 cooperative, 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 the equity in your home (up to 95% of the value) anytime you need it with free checks, online advances and other advance options. 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! Download the Home Equity Checklist to make sure you have all of the correct documentation to complete your loan.

  • No sudden jumps in monthly payments - rate adjusts once a year after intro period1
  • Free pre-approvals and fast turnaround time
  • Flexible product options available

 Apply

 

1-Year Intro HELOC

  • Introductory rates are fixed for 12 months as low as 5.49% APR with checking and direct deposit and no closing costs1
  • Without checking and direct deposit, the introductory rate would be 5.99% APR1
  • Current variable rates after introductory period as low as 7.50% APR1
  • No closing costs or balance transfer fees1

 Apply

 

Home Equity Closed End

With a Home Equity Closed End loan, you can apply for a specific one time amount (up to 95% of your equity depending on credit worthiness) 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. Download the Home Equity Checklist to make sure you have all of the correct documentation to complete your loan.

  • Low rates on our fixed Home Equity loan with no closing costs2
  • No appraisal or balance transfer fees2
  • No sudden jumps in monthly payments
  • Free pre-approvals and fast turn around time

 Apply

 

Apply For A Home Equity Loan

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

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.

 

 

For Home Equity Loan Payoff Requests, please fax to 314-329-9896 or email to [email protected].

For Subordination Requests for Home Equity 2nd lien Loans, please email the completed Subordination Request Form, along with the ALL items listed on the form, to [email protected].

The Home Mortgage Disclosure Act (HMDA) Notice about our residential mortgage lending is available online for review.

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1APR=Annual Percentage Rate. * Rates effective 12/19/2024 and subject to change without notice. Introductory rate applicable for the first 12 months following loan open date.  5.49% APR is lowest introductory rate available and includes a .50% APR relationship discount for members with a checking account and direct deposit; 5.99% APR is lowest rate available for members without a checking account and 
direct deposit relationship.  Had there not been an introductory rate, the current best applicable rate would be 7.50% APR. Throughout the life of the loan, the APR may adjust annually based 
on the Prime Rate published in The Wall Street Journal plus a margin based on credit worthiness. Maximum APR is 15.00%. Rates are based on underwriting criteria; all loans subject to approval. 
No closing costs incurred when automated value model is used; if loan is paid off and closed within 36 months of opening, member is responsible for reimbursing the credit union for fees paid. 
Call 800-325-2697 for additional cost information/complete details.  NMLS#509288

2No closing costs incurred when automated value model is used; If loan is paid off and closed within 36 months from opening of loan, member must reimburse the credit union for fees paid.