The key difference between a home improvement loan and a house fairness mortgage is that the latter is secured by your house equity. This impacts every facet of the mortgage, from the appliance process to the quantity you’ll have the ability to borrow to the interest rate you may pay . Navy Federal does require higher mortgage minimums for longer-term loans. Loans with fee terms over 60 months require a $25,000 minimal, and terms over 84 months require a $30,000 minimum. Besides competitive interest rates, we also like that borrowers with average credit score scores are eligible and funding is…