No Equity Required     Home Equity Line of Credit     Fixed Rate

Home Purchase/Refinance     Recreational Property

No Equity Required

• Mini-Home Equity Line of Credit (Mini-HELOC) Borrow up to $15,000.00 without having any equity in your residence. Closing costs are minimal (usually $44) and best of all...this revolving credit line can be used over and over again for up to five years! This means that you’ll enjoy up to twenty years of potential tax deductibility (consult a tax advisor regarding the deductibility of interest)! Great news for all of those members that have already taken advantage of the Mini-Mortgage...no more re-financing! The Mini-HELOC has a variable interest rate (that will never exceed 15.00%), even lower than that of the Mini-Mortgage, with payments of a low 1.35%* of the outstanding balance! For example with a loan balance of $15,000 your monthly payment would be estimated at just $202.50 per month!
  
• 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 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 (usually $41), you may even be eligible for added tax benefits (consult a tax advisor regarding the deductibility of interest). This is a quick and easy loan that usually takes under a week from start to finish.

Click here for Mini-HELOC and Mini-Mortgage rates.

Home Equity Line of Credit (HELOC) If you need a loan with flexibility, a great interest rate, and possible tax benefits (consult a tax advisor regarding the deductibility of interest), a HELOC may be just right for you. A HELOC is a loan that is secured by your primary residence in the state of Alaska that has the added feature of a “draw period” for the first five years of the loan. This means that if you have funds available on your HELOC, you can continue to borrow against the revolving credit line with little or no paperwork at your convenience. Closing costs are minimal and can be anywhere from $292.00 to $1008.00 depending on the amount of the loan. Borrow up to $100,000 by financing up to 80% of the equity in your home (value x 80% - other mortgages on home) for up to 20 years at a low variable interest rate that will never exceed 15.00%.

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Fixed Rate Second Mortgage

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Home Purchase/Refinance

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Recreational Property Owning a great piece of recreational property may be easier than you think with financing from Northern Skies FCU. Finance up to 75% of the value of the property with minimal closing costs. Enjoy affordable payments with a low fixed interest rate and terms of up to 144 months.

Click here for Recreational Property rates.