Home Equity Loans

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Are you sitting on an untapped financial resource that could be used to your advantage in helping you purchase the things you want, need and deserve? If you’ve got the equity, Nutmeg has two loan programs that may best fit your needs.

Considering refinancing from another lender? Click here to use our Home Loan Analysis to find out how much you can save. 

Home Equity Line of Credit

Our variable rate home equity line of credit carries a rate that is determined by the Wall Street Journal “Prime Rate”. With no points, no application fee, and no annual fee, this is one of the most flexible lines of credit in the market.*

  • No Application Fees
  • No Closing Costs
  • No Annual Fee
  • No Points
  • Up to $375,000 maximum line amount
  • Connecticut, owner occupied, property only

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*APR = Annual Percentage Rate. This is a variable rate and is determined by the Wall Street Journal Prime Rate. Minimum line amount is $10,000; Maximum line amount is $375,000. Seven year draw/Ten year repay. Offer available for owner occupied single family dwellings in Connecticut and owner occupied condominiums that meet the guidelines. Approval will be based on your credit score and other factors. Prepayment penalties will apply if the loan closed within the first 24 months. Interest may be tax deductible, please consult your tax advisor. Subject to appraisal and credit approval. Offer may be withdrawn at any time. Other terms and conditions may apply. We are an equal housing lender. Nutmeg State Financial Credit Union is federally insured by the National Credit Union Administration.

Fixed Home Equity Loan

For applicants with a fixed amount of money in mind and who prefer to lock their interest rate and term, a fixed rate second mortgage is recommended. Members may apply for 5, 7, 10 & 15 year terms. Home Equity Loans offer the following:**

  • No Application Fees
  • No Closing Costs
  • No Annual Fee
  • No Points
  • Up to $375,000 maximum loan amount
  • Connecticut, owner occupied, property only

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**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; Maximum loan amount is $375,000. Maximum term of the loan is 5 years at the advertised rate. Other rates and terms are available. Offer available for owner occupied single family dwellings in Connecticut and owner occupied condominiums that meet the guidelines. Offer does not apply to existing Nutmeg home equity loan balances. Other terms and conditions apply. Subject to appraisal and credit approval. Maximum Loan to Value ratio (“LTV”) of 90% applies. Interest may be tax deductible. Offer may be withdrawn at any time. 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.


For more information about our home equity loans, call us at 1.800.526.6933 or click here to apply for your loan online.

Click here for Home Equity Loan Rates. Or call 860.513.5000 (local) or 1.800.526.6933 (nationwide).

All rates are determined by the Board of Directors and are subject to change at any time. We are an equal opportunity lender.