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Need to remodel your kitchen, bathroom or paying on high interested debt? A home equity loan could be the perfect solution! Home equity loans rates are lower than personal loans, have higher loan limits and the paid interest could be tax deductible. Consult a tax advisor for this information.

  • Loan minimum $5,000
  • Loan maximum $50,000
  • Variable rate tied to prime rate as determine by the "money section" of the Wall Street Journal
  • Rate subject to change semi-annually
  • Minimum rate four percent
  • Maximum rate 15 percent
  • Loan to value ratio 80 percent
  • 15-year plan
  • Seven-year draw/eight-year repayment
  • Interest-only payments the first seven years (or $100 monthly minimum)


Conveniently apply online! Please be prepared to provide proof of income (i.e. your last two pay stubs, most recent W-2 or a statement from your financial institution showing two or more regular direct deposits). Proof of income can be uploaded via online banking. NIU employees (only) are welcome to fill out the NIU's income verification form.

Loan processing takes approximately 24-48 hours to respond to a request. We make every effort to determine how we can help your financial well-being. In the instance we are not able to offer the loan requested, we will sometimes counteroffer a product or service we feel would help you.

Apply Today