Second Mortgage

Good idea

A Credit Union second mortgage or home equity loan is a great way to pay off existing high interest debt, finance an auto purchase, tuition, or home repair.

Fees & Costs

*Second mortgage loans over $50,000 in first lien position or without verifiable title insurance on a First Mortgage will require title insurance.  This is a one-time premium paid by the member at closing and the cost is determined by the amount of the loan.  Second mortgage loans will receive a lender credit up to $500.00 to be used towards closing cost. (if closing cost are less than $500.00 you will only receive credit for the actual cost)  Average closing costs $441, plus the cost of title Insurance if applicable*

Equity Requirements/Terms

  • Borrow up to 90% of the appraised property value, less the balance of the first mortgage.
  • Maximum term: 20 years
  • Maximum Loan Amount: $200.000.00
  • Minimum Loan Amount: $10,000.00
  • Taxes and insurance premiums are not escrowed and are the responsibility of the borrower


Rates above reflect our lowest rates. Actual rate is determined by member's credit score. Rates subject to change without notice.

The payments do not include amounts for taxes and insurance premiums, and the actual payment obligation will be greater.

Flood Insurance

All second mortgage loans require a flood search to determine whether the property is located in a flood zone. Member paid flood insurance may be required.

Rewrite Policy For existing NFFCU Mortgages

An additional 5% of outstanding balance or $5,000 must be borrowed, whichever is greater.

Home Insurance

Proof of home insurance is required prior to the closing. The amount of insurance must be equal to the amount of your loan or the policy must contain a guaranteed replacement clause. For a no obligation quote click here:

*APR= Annual Percentage Rate. Your rate will be determined by your credit score, loan to value and term of loan. Maximum loan to value is 90%. Offer valid on Home Equity Loans of $10,000.00 or greater. Other great rates and terms available. Rates subject to change without notice. Title insurance may be required. Homeowner’s insurance is required. Consult a tax advisor regarding the deductibility of interest.

Payments do not include amounts for taxes and insurance premiums and the actual payment obligation will be greater.

Effective date: 10-25-19



  • Equal Housing Lender NCUA
  • Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. government agency