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Home Equity Loans

 

A Northwest Home Equity Loan gives you the freedom to do things you’ve always wanted to do.

  • CONSOLIDATE YOUR BILLS INTO ONE LOWER MONTHLY PAYMENT
  • HOME IMPROVEMENT
  • BUY A NEW CAR
  • TAKE A VACATION
  • PAY EDUCATION OR MEDICAL EXPENSES

For current rate information, stop in to your local office or call 1-888-884-4626 Monday - Friday, 9:00 am to 5:00 pm.
 
CLICK HERE FOR A LIST OF REGISTERED MORTGAGE BANKERS

Click on the tabs below for detailed product information.


  • Let's roll up our sleeves and make it happen... 

     


     


    Great Rates, Low Fees 
    Take advantage of our lowest rates. 

    Convenience 
    Apply on your time, the way you want. 

    Close on your time, too, wherever you want – 
    We’ll send someone directly to you. 

    Speed 
    From application to closing, we’ll work with you 
    to deliver what you need on time. 

    Expert Advice 
    A dedicated Northwest mortgage professional 
    will keep you informed and answer your 
    questions along the way.


    For more information information on our current 
    mortgage promotions and rates click
    here.



    *HOME EQUITY LOAN: Closed-end home equity loan Annual Percentage Rate (APR) as of 9/27/16 applies to 60-month, 120-month, 180-month or 240-month term on a minimum of $5,000 in new borrowings with automatic transfer service from a Northwest checking account, funds cannot be used to satisfy an existing Northwest loan account, 85% maximum loan-to-value, and 660 minimum FICO® score. Not for the purchase of homes. Valuation fee from $60-$525 will apply. Rates and terms may vary by property type, loan amount, LTV ratio and FICO® score. One- or two-unit owner occupied properties only. Maximum loan amount is $500,000. Title insurance may be required on loans $250,000 or greater. Other rates and terms are available. Property insurance is required and flood insurance may be required. Offer may be changed or withdrawn at any time. Consult a tax advisor regarding deductibility of interest and charges. Examples: The monthly payment on a 2.375% APR 60-month loan of $5,000 with no debt protection is $88.46; the monthly payment on a 2.875% APR 120-month loan of $5,000 with no debt protection is $47.99; the monthly payment on a 3.500% APR 180-month loan of $5,000 with no debt protection is $35.74; the monthly payment on a 3.875% APR 240-month loan of $5,000 with no debt protection is $29.97. Payments do not include amounts for taxes and insurance premiums, actual obligation will be greater. Debt protection is optional. Listed APRs are not available for Choiceline fixed-rate lock-in. See Northwest for details. **HOME EQUITY LINE OF CREDIT: Variable Annual Percentage Rate (APR) 0.99% or 1.99% introductory APR for six (6) months followed by Wall Street Journal Prime Rate plus 0.00%, currently 3.50% as of 3/4/16. Fixed term line of credit of $50,000 or more (for 0.99% APR) or $25,000 to $49,999.99 (for 1.99% APR) in new borrowings with a ten (10) year draw period that is an open-end variable rate followed by a fifteen (15) year repayment term with principal and interest payments at a fixed rate then in effect for fifteen (15) year fixed-rate equity loans (currently 4.625% as of 3/4/16). Minimum monthly payment quoted is for interest-only payments. Maximum APR is 18.00% (16.00% in New York), minimum APR is 2.50%. Offer requires an 85% maximum loan-to-value ratio, a minimum 700 FICO® score and automatic transfer service from a Northwest checking account. One- or two-unit owner-occupied properties only. Not for home purchase. Valuation fee from $60 to $525 will apply and a $25 annual fee will be charged. Minimum monthly payment is $50. If you cancel the line-of-credit before three (3) years, you will be required to reimburse Northwest for all third-party origination fees, less valuation fee, which typically range from $0 to $600. Refinance of existing Choiceline will include early termination fees, if applicable. Refinance of new borrowing requirement based off existing Choiceline available limit. Customer may opt to lock-in balance at any time, up to three advances, at rates then in effect for fixed-rate home equity loans from one (1) to fifteen (15) years during the initial ten (10) year draw period. A $75 fee applies to each lock-in. Maximum loan amount is $500,000. Other rates and terms are available. Title insurance may be required on loans $250,000 or greater. Property insurance is required and flood insurance may be required. Offer may be changed or withdrawn at any time. Consult a tax advisor regarding deductibility of interest and charges. Payments do not include amounts for taxes and insurance premiums, actual obligation will be greater. Debt protection not available. See bank for details. Northwest Bank is Member FDIC


  • Use your home to finance the things you want in life with a fixed rate loan set with a fixed payment for a fixed term.

    • Fixed, competitive rates.
    • $5,000 minimum loan amount.
    • Flexible terms and monthly payments to fit your budget.
    • Interest may be tax deductible.
    • Fees:
      • $100 origination fee
      • $60 - $525 valuation fee

  • ChoiceLine gives you the choice of allowing the balance on your home equity line of credit to vary with interest rates nationwide or to “lock” the rate, when you choose.

    • Variable rate line of credit, with fixed rate Lock-In option, it's your Choice.
    • Take advantage of the low, variable rate to consolidate debt, improve your home, pay education expenses, and almost anything else.
    • For peace of mind, "lock in" all or part of your balance to a fixed rate, term, and payment when the time is right.
    • Your ChoiceLine is accessed through the use of special checks — use your convenient personal checks to write your own loans whenever you need them.
    • Until you use your credit, there are no interest charges.
    • Once approved, your ChoiceLine is available to work for you when you need it.
    • Obtain overdraft protection on your personal checking accounts at Northwest.
    • Fees:
      • $100 origination fee
      • $60 - $525 valuation fee
      • $25 annual fee

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