Home Equity Loans

Your home can help!

North Shore Federal is the premier home equity lender on the North Shore.

Home Equity Loans

Choose from a variety of interest rates and terms, with very low closing costs of approximately $150 (closing costs based on loan amount of $50,000 or less), make this loan suitable for a wide variety of financing needs.

  • Interest is usually tax deductible*
  • Fast turnaround time
  • Repayment terms from 2 to 15 years

Home Equity Line of Credit**

The ultimate in value and convenience, the Home Equity Line of Credit combines the power of your home's equity with the flexible features of a Line of Credit. Access your credit limit, pay it off at anytime and use again as needed! Due to favorable tax treatment and flexible terms, this loan is very popular with our members for financing major purchases, such as cars and boats.

  • Interest is usually tax deductible*
  • Fast turnaround time
  • Low, minimum monthly payment: 1% of loan balance+
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What you should know about Home Equity Loans

Home Equity Disclosure Information

Click the here for important disclosure information pertaining to home equity loans.

Contact your NSFCU Mortgage Lender for additional information.


* Interest payments on home equity loans are tax deductible as defined by the federal government. Consult your tax advisor to determine the extent of your benefit.

** The Home Equity Line of Credit has a variable rate feature and the annual percentage rate (corresponding to the periodic rate) and the minimum monthly payment can change as a result. The annual percentage rate includes only interest and not other costs. The annual percentage rate is based on the value of an index. The index is the base rate on corporate loans posted by at least 70% of the 10 largest U.S. banks known as the Wall Street Journal U.S. Prime Rate and is published daily in the Wall Street Journal. To determine the annual percentage rate that will apply to your line of credit, we add a margin to the value of the index and then round to the nearest .001 percent. Ask us for the current index value, margin and annual percentage rate. After you open a line of credit, rate information will be provided on periodic statements that we send you.

+ You can obtain credit advances from your Home Equity Line of Credit for 10 years. During this period, payments will be due monthly. Your minimum monthly payment will equal 1.00% of the principal balance outstanding on the last day of the billing cycle. The minimum payment will be rounded to the nearest $0.01. The minimum monthly payments may not be sufficient to fully repay the principal that is outstanding on your line of credit at the end of 10 years. If they are not, you will, to the extent permitted by law, be required to pay the entire balance in a single payment. Minimum Payment Example: If you made only the minimum monthly payment and took no other credit advance, it would take 10 years to pay off a credit advance of $10,000.00 at an Annual Percentage Rate of 3.75%. During that period, you would make 119 payments varying between $100.00 and $44.31, with a final payment of $4,413.89.