NOVARA Lending
Home equity loan or HELOC
Use the equity you've built in your home. A home equity loan gives you one lump sum repaid in fixed payments. A home equity line of credit (HELOC) gives you an approved limit to draw from when you need it, and you pay interest only on what you use. Both are secured by your home.
Secured by your home.
- Borrow
- $10,000 to $500,000
- Term
- 5 years to 20 years
- APR
- 7.49% to 10.99%
- Origination fee
- 0.75% of the amount
Estimate
See what it could cost
Move the amount and term to see a representative monthly payment from $10,000.
Home equity loan
One lump sum, fixed monthly payments.
Home equity line of credit
Draw what you need up to your limit; pay interest on what you use.
What it's for
- Major renovations
- Large planned expenses
- Consolidating higher-interest debt
Estimated monthly payment
$1,004.83
- APR
- 7.49%
- Payments
- 156
- Total interest
- $56,751.04
- Origination fee
- $750.00
- Total repayable
- $156,751.04
Representative example at the lowest rate. Your rate depends on our assessment, and your offer shows the exact payment, fees, and total cost before you accept.
Eligibility
Who can apply
- Verified NOVARA member in good standing
- You own the property and it's your main home
- Combined borrowing no more than 80% of the property's value
- Documented income that supports the payments
Documents
What you'll upload
- Proof of incomeYour last three pay slips, or a recent tax return if you're self-employed.
- Proof of ownershipThe title deed or your latest mortgage statement.
- Property valuation · if availableA recent independent valuation.
- Proof of addressA utility bill or lease from the last three months.
Questions
About the home equity loan or heloc
Other loans
Personal loan
For planned purchases, emergencies, or personal expenses, repaid in fixed monthly payments.
- Borrow
- $1,000 to $50,000
- APR from
- 8.99%
Auto loan
Financing for a new or used vehicle, secured against the vehicle you buy.
- Borrow
- $3,000 to $100,000
- APR from
- 6.49%
Mortgage
Long-term financing to buy a home, subject to valuation, affordability, and legal documentation.
- Borrow
- $50,000 to $1,500,000
- APR from
- 5.99%
Apply for a home equity loan in the app.
Sign in, choose the amount and term, and upload your documents. We'll keep you updated at every step.
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