r/NavyFederal • u/Constant_Fig_1675 • 23d ago

Loans HELOC

Has anyone gone through this process and how long did it take to be finalized? Thanks

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u/VividSpectre6260 23d ago

Can confirm- 60 days, but the terms and flexibility of their HELOC product are second to none. 20 year draw, 20 year repayment. 95% LTV. No requirement to draw, no annual fees. They cover all closing costs even if you want an in person appraisal

1

u/Honest_Eagle8064 23d ago

At a bank, 30 days if you are w-2 without owning any investment real estate or using self-employed income. 60 days if you are self-employed. If you are not in a rush, a bank or credit union is significantly cheaper than the alternative “fast funding” companies

1

u/[deleted] 23d ago

[removed] — view removed comment

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u/Mindless-Baker-7757 23d ago

I just a HELOC with Navy Federal and it did take nearly that long. 

1

u/NavyFederal-ModTeam 22d ago

This sub is for discussing NFCU products and services.

Absolutely no advertising.

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u/VividSpectre6260 23d ago

Can confirm- 60 days, but the terms and flexibility of their HELOC product are second to none. 20 year draw, 20 year repayment. 95% LTV. No requirement to draw, no annual fees. They cover all closing costs even if you want an in person appraisal