Real Estate Loans

Real Estate Loans

Your home is more than a place to hang your hat. You can use it to secure financing to pay for that new car, help you afford tuition, take a vacation, pay off your credit cards...just about anything! We offer competitive rates and terms to make sure your payments fit your budget. You work hard for your house—isn't it time it worked hard for you? With a home equity loan or line of credit, it can!

No Equity Required

Mini-HELOC (Home Equity Line of Credit)

Borrow up to $15,000.00 without any equity in your residence. Closing costs are minimal and since this is a revolving credit line, it can be used over and over again for up to five years.


  • Access funds easily
  • Low closing costs
  • Use it as you need it
  • 5-year draw period
  • Competitive variable interest that's only charged on what you use
  • Interest payments may be tax deductible*
  • Pay it off and use it again
  • No need to re-apply

Mini-Mortgage

No equity – no problem! Whether you need a loan to pay off those high interest bills, for home improvements, or whatever, a Mini-Mortgage is a great fixed-rate program for any homeowner. Borrow up to $15,000 using your primary residence in the state of Alaska as collateral on a loan for up to 48 months. In addition to low closing costs, you may even be eligible for added tax benefits*.


  • Use funds for most anything
  • Competitive fixed rate
  • Interest payments may be tax deductible*
  • Personal service
  • Local decisions
  • Quick approvals
  • Easy to apply

*Consult your tax advisor.


Northern Skies is an Equal Housing Lender

Home Equity

Home Equity Line of Credit (HELOC) - Draw funds as you need them up to a pre-approved amount. Unlike a standard home equity loan, you only pay interest on the amount that you use rather than the whole amount. You can access funds easily when you need them with little or no paperwork.


  • Generous credit lines based on home's value
  • Access funds easily
  • Low closing costs
  • Use it as you need it
  • 5-year draw period
  • Competitive variable interest that's only charged on what you use
  • Interest payments may be tax deductible*
  • Pay it off and use it again
  • No need to re-apply
  • Personal service
  • Local decisions
  • Quick approvals
  • Easy to apply

Fixed Rate - If you're looking to lock in at a low-rate and don't need to access additional funds ... our Fixed Rate loan option may be just right for you.


  • Based on home's equity
  • Use funds for most anything
  • Competitive fixed rate
  • Flexible terms
  • Interest payments may be tax deductible*
  • Personal service
  • Local decisions
  • Quick approvals
  • Easy to apply

*Consult your tax advisor.


Northern Skies is an Equal Housing Lender

Recreational

Owning a great piece of recreational property may be easier than you think with financing from Northern Skies FCU. Enjoy affordable payments with a low fixed interest rate and generous terms.



Northern Skies is an Equal Housing Lender