Home Equity Loans

Get the money you need with a rate as low as

8.19%APR2

HOME EQUITY LOAN FEATURES

Up to 100%
Borrow up to 100% of your home’s combined loan-to-value1 at competitive rates
Terms Up to 20 Years
Terms from 5 to 20 years (lower rate for shorter terms). Pay off ahead of time without penalty2
Rate Discount
If you have a Coastal first mortgage,
you’ll enjoy a .25% rate
discount3
Up to
of your home's combined loan-to-value1 with a rate as low as

100% Home Equity Loan Features

  • Financing available up to 20 years
  • Loans from $5,000 up to $250,000 for qualified borrowers3
  • .25% discount if you have a Coastal first mortgage
  • All standard closing cost are paid by Coastal on new Equity Loans opened4
  • Eligible on primary residences 
  • We will waive your closing costs on the equity line if you close your first mortgage and HELOC with Coastal at the same time

90% Home Equity Loan Features

  • Financing available up to 20 years
  • Loans from $5,000 up to $250,000 for qualified borrowers3
  • .25% discount if you have a Coastal first mortgage
  • All standard closing cost are paid by Coastal on new Equity Loans opened4
  • Eligible on primary residences 
  • We will waive your closing costs on the equity line if you close your first mortgage and HELOC with Coastal at the same time

80% Home Equity Loan Features

  • Financing available up to 20 years
  • Loans from $5,000 up to $250,000 for qualified borrowers3
  • .25% discount if you have a Coastal first mortgage
  • All standard closing cost are paid by Coastal on new Equity Loans opened4
  • Eligible on primary residences 
  • We will waive your closing costs on the equity line if you close your first mortgage and HELOC with Coastal at the same time

Bank Better With a Coastal Home Equity Loan

  • Loans from $5,000 up to $250,000 for qualified borrowers3
  • All standard closing costs are paid by Coastal on new home equity loans opened4
  • We will waive your home equity closing costs if you close your first mortgage and home equity loan with Coastal at the same time
  • Use money for major home improvements, college expenses or to consolidate high-interest debt
  • A lump sum loan means a fixed monthly payment, making it easier to set your family’s budget
  • Interest on the loan might be tax-deductible (consult your tax advisor for full details)

Resource Center

How Coastal Can Help You Consolidate Your Debt

A recent survey showed that 3 in 10 Americans have more credit card debt than emergency savings. Perhaps you don’t have credit card debt, but you’re dealing with debt from student loans or auto loans.

Home Equity Line of Credit vs. Home Equity Loan

A home equity line of credit (HELOC) is a continuous, revolving credit line, while on the other hand, a home equity loan is a lump sum of money that is paid off with fixed payments. The big question is, which is right for you? Let’s weigh the pros and cons of each so you can decide which one makes the most sense for you.


We have a home equity and car loan with Coastal. We've had an excellent experience to date with them!
A Coastal Member

Frequently Asked Questions

A home equity loan is one-time disbursement of loan proceeds secured by your home. Both the interest rate and monthly payments are fixed, ensuring a predictable repayment schedule for the life of the loan.
Property must be a primary residence located in North Carolina, South Carolina, or Virginia.  Eligible property types are single family detached, Townhouses and Condominiums only.
You do not need to have a first mortgage with Coastal to obtain a Home Equity.
Because of the competitive interest rates and potential tax advantages of home loans, they are convenient ways to finance home improvements/repairs, education, purchasing a vehicle, buying a second property or consolidating higher interest rate balances.  Member should consult a tax advisor for additional information.
You can borrow as little as $5,000 or up to $250,000 depending on your credit history, available equity in the property and your current monthly debt up to 100% of the Loan to Value (LTV).  Higher loan amounts may be available if your first mortgage with Coastal.

1 All loans are subject to approval.

1. All applicants must meet underwriting criteria. Loan or line amount may be less than 100% of your home’s combined loan-to-value. To calculate your combined loan-to-value (CLTV), first establish the value of your home and the amount of any outstanding mortgage(s) you have on the property. Dividing the mortgage total by the home value is your loan-to-value (LTV). Your room to borrow is the amount you can add to your debt without going over your maximum CLTV. For example, if you have a $100,000 mortgage on a home that is worth $200,000, your LTV is 50%. If your lender is offering you a CLTV of 80%, that means you could borrow as much as $60,000, since ($100,000+$60,000)/$200,000 = 80%.

2. APR = Annual Percentage Rate. The APR for a Coastal Federal Credit Union Home Equity Loan is fixed and is based on Coastal Federal Credit Union’s Qualified Loan Program and include the Relationship Pricing discount. Qualification for Relationship Pricing is based on having a 1st. Mortgage with Coastal Federal Credit Union. The minimum APR for a Home Equity loan is 8.19% with relationship pricing. The maximum APR for a Home Equity loan with no discounts is 11.60%. Your rate may vary and is determined by your credit qualifications, amount financed, collateral, loan terms, Relationship Pricing and combined loan-to-value. Please stop by your local branch or call our 24-hour call center at 800-868-4262 for more information. A payment example of a Home Equity Loan: As of June 1, 2023, an amount financed of $50,000 at a term of 180 months at 80% of your home’s combined loan-to-value with an APR of 8.85% would result in 180 equal monthly payments of $504.75. All applicants must meet underwriting criteria. Loan amount may be less than 100% of your home’s combined loan-to-value.

3. Eligible on primary residences. All applicants must meet underwriting criteria. Loan amount may be less than 100% of your home’s combined loan-to-value. Rates are subject to change daily. Lending area located in North Carolina, Virginia, and South Carolina. Coastal membership must be established prior to scheduled closing. No refinances of purchase money seconds within 12 months of the closing date. Property insurance is required. Flood Insurance may be required. The minimum loan amount for a Home Equity Loan is $5,000. All lending services are subject to credit approval. Contact a Coastal representative for specific rates and terms. Certain restrictions may apply. To qualify for Relationship Pricing the borrower must have a Coastal first mortgage or close this loan simultaneously with a new Coastal first mortgage.

4. All standard closing costs for properties located in North Carolina are paid by Coastal. Non-standard costs such as a full appraisal, title insurance, attorney fees and closing costs for properties located in Virginia or South Carolina must be paid by the borrower. To learn more about what closing costs applies to you, please contact your local branch or call our home equity team at 919-800-4750 to discuss.

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