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Home Equity Line of Credit

For most of Call Federal members, buying a house is the single largest investment we make for ourselves and our families. Over time, the value built up in our homes can also become a tremendous asset. Our home equity products allow you to turn that value into much needed cash for home improvement projects, debt consolidation, college tuition, weddings, or a number of other expenses.

All Call Federal Home Equity Products offer: 

  • Low Interest Rates 
  • Affordable Payments
  • Low Closing Costs
  • Convenient Processing

Three Great Options

  • Classic HELOC15 (Variable Rate Home Equity Line of Credit):
    • Rate: The variable rate is based on the Wall Street Journal’s published prime rate* plus 0.50% and is subject to quarterly adjustment.**
    • Draw Period: Members will have access to funds for a period of eight years, in which payments will consist of principal and interest.
    • Repayment Period: After the end of the draw period members will have seven years to payback the full balance of principal and interest.
  • Member Advantage HELOC20 (Variable Rate Home Equity Line of Credit):
    • Rate:  The variable rate is based on the Wall Street Journal’s published prime rate* plus 0.50%, with the opportunity to receive a discount of 0.50% when payments are made automatically from a Call Federal checking account. The variable rate is subject to monthly adjustment.
    • Draw Period: Members will have access to funds for a period of ten years with the option of flexible interest only payments.
    • Repayment Period: After the end of the draw period members will have ten years to payback the full balance of principal and interest.
  • Second Mortgage: (Fixed Rate Home Equity Loan):
    • Rate: The Fixed Rate is determined daily and can vary based on loan- to-value (LTV), term of the loan, borrower’s creditworthiness, market conditions, and other factors may apply. (link to the rates)
    • Term: Up to 15 years. All funds are disbursed at the time the loan is processed.
    • Repayment: Principal and interest payments over the life of the loan.

It’s Easy to Apply

  • Apply Online!
  • Call us 804-274-1200 or 1-800-796-2328 (Choose Option 6 from the menu)
  • Visit us at any of our six branch locations


For more information, please email our Mortgage Department or call 804-274-1200 (option 2). 

Call Federal conducts business in accordance with the Federal Fair Housing Lending Laws.
Read more by clicking here

  * The Prime Rate is published in the Money Rates column of the Wall Street Journal.

** Quarterly adjustments will occur, if needed, every March 1st, June 1st, September 1st, and December 1st.

 
Call Federal Credit Union is an Equal Housing Lender licensed by the National Mortgage Licensing System under NMLS #407823.

Roger Beal Ball – NMLS# 412619

Deborah Morris Beasley – NMLS# 411227

Barbara Ramos Bell – NMLS# 1283028

Kelly Petra Brown – NMLS# 1281202

Kevin Michael Caldwell-NMLS# 1577156

Kimberly Dee Carneal – NMLS# 1283890

Margaret Rene Chennault – NMLS# 1053092

Stephanie Ann Couldrey – NMLS# 1551385

Kerri Ann Fortner – NMLS# 1280736

Chester Leonard Gilmore – NMLS# 622602

Sabrina Grace Mayo-NMLS# 1610950

Joanna Furr McVicker – NMLS# 816671

Brooke Michelle Miller – NMLS# 411226

Justin Parramore-NMLS# 1412983

Alton Darrell Robertson-NMLS# 1585675

Hanna Robowski-NMLS# 1585646

Colin Scott Schoenhaut-NMLS# 1580533

Christina Ann Shingleton-NMLS# 1575827

Tanya Faye Smith - NMLS #1612779

Brian Alexander Valz – NMLS# 588223

Wykeena Claiborne Wiggins – NMLS# 1398821