Fixed Home Equity
Home equity, the difference between your home’s value and what you still owe on a mortgage, can be a powerful financial resource. A Fixed Home Equity Loan* lets you borrow a specific amount of that equity as a second mortgage. At closing, a legal claim called a “lien” is recorded that shows the loan is secured by your home.
Unlike a Home Equity Line of Credit (HELOC), a Fixed Home Equity loan allows you to receive one lump sum at closing to be used as needed. You’ll begin accruing interest right away and repay in equal monthly payments at a fixed APR** over a set term.
Members typically choose a Fixed Home Equity Loan for more immediate, upcoming costs like a roof replacement or planned remodeling project, or to consolidate high-interest debt.
Fixed Home Equity Loan
Our Fixed Home Equity Loan is available for 5, 7, 10 and 15-year terms. Click here to see our rates. Great features include:
- No Application Fees
- No Closing Costs**
- No Annual Fees**
- No Points**
✅ Official Secure Application – Nutmeg State Financial Credit Union
You are now leaving our main website and entering our trusted, encrypted loan application portal,
powered by MeridianLink — our secure, long-standing partner.
All information you submit is used solely for your home equity loan application with
Nutmeg State Financial Credit Union and is protected by bank-level security.
Federally Insured by NCUA
500 Enterprise Dr, Suite 4A, Rocky Hill, CT 06067 | 860-513-5000
Questions? Call our Lending Team directly at 860-513-5000 or visit one of our branches.
Why Members Choose a Fixed Home Equity Loan from Nutmeg
- Predictable Payments: One fixed APR and a stable payment for the life of the loan.
- Great For Defined Needs: Borrow once, use once – ideal for a single project or purchase.
- Flexible Terms: Choose the repayment term that fits your budget.
- Local Guidance: Work with our Connecticut lending team from application to closing.
Popular Uses of a Fixed Home Equity Loan
- Renovations or repairs
- Consolidating higher-rate debt
- Education costs
- Major life events
- Emergency expenses
Talk to a Live Person
Call 860-513-5003 for one-on-one guidance from our friendly lending team! We’re happy to walk through example payments and scenarios.
Yes. It’s a home-secured loan and places a lien on your property until paid in full.
Property insurance is required; flood insurance may be required if applicable.
Consult your tax advisor; deductibility depends on your situation.
Any outstanding balance must be paid off at or before closing.
This is a lump-sum loan with a fixed interest rate. A HELOC is revolving credit, typically with a variable APR.
*Connecticut owner-occupied property only.
**APR = Annual Percentage Rate. The APR and monthly payment for your loan request will be based on your credit score and other factors. Your actual rate may be higher than the advertised rate depending on your individual credit score. Minimum loan amount is $10,000 and the maximum is $500,000. Payment example: $50,000 loan at a 6.25% APR for 84 months equals a monthly payment of $147.33. This payment does not include taxes or insurance. Subject to appraisal and credit approval. Maximum loan-to-value ratio (LTV) of 100% applies. Must be a member to qualify. We are an Equal Housing Lender. Nutmeg State Financial Credit Union is federally insured by the National Credit Union Administration.
If the line of credit or loan is paid off within 2 years, you will be responsible for reimbursing Nutmeg State Financial Credit Union for certain third-party fees related to the origination of the loan. These third-party fees typically range from $500 to $1,000 depending on the loan amount and property.
No minimum fee, no fixed fee, no transactional fees, no activity fees, and no loan fee are imposed by Nutmeg State Financial Credit Union. Property insurance is required.
Offer is subject to credit approval. Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. We will ask for your name address, date of birth, and other information including valid identifying documents to identify you. NON-MEMBERS: Membership required. Membership at Nutmeg State Financial Credit Union is open to you if you are a member of the Community Impact Fund, or if you live, work, worship, attend school or volunteer in Hartford County, Middlesex County, Tolland County, New Haven County or the Fairfield County towns of Bridgeport, Shelton, Stratford, Trumbull, Fairfield, Norwalk and Westport, CT. Membership requires a savings (share) account with a $5 minimum balance requirement.
All loan applications are subject to credit approval. Additional terms, conditions, and eligibility requirements apply. Nutmeg State Financial Credit Union does not guarantee loan approval for all applicants.