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Home Equity Loan & Lines of Credit

Turn Your Home’s Value into Opportunity

Your home’s equity isn’t just value – it’s opportunity. Whether you’re consolidating debt or making renovations, let us help you take the next step,

 

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$500 Off Closing Costs

with a Home Equity Loan.
Rates as low as 5.75% APR.1

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5.25% APR Intro Rate

for the first 12 Months with an Interest-Only Home Equity Line of Credit. After Intro Rate, APR can range from 7.50% to 9.175% based on Prime Rate and other criteria.2

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House

Home Equity Loan

Unlock your home’s value with a lump sum of cash at a fixed interest rate, offering stability and predictable monthly payments — ideal for major expenses like renovations or debt consolidation. Get all the funds upfront and enjoy immediate access to the money you need.

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Traditional Home Equity Line of Credit (HELOC)

Tap into your home’s equity as needed with the flexibility of a variable interest rate and ability to borrow multiple times during the draw period. Take advantage of a revolving credit line that gives you ongoing access to funds whenever you need them.

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Interest-Only Home Equity Line of Credit (HELOC)

Access your home’s equity with the flexibility of borrowing as needed during the initial draw period. With interest-only payments upfront, this revolving credit line offers lower monthly payments, making it an ideal option for managing large expenses or unexpected financial needs.

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Join us at the Richmond Home + Garden Show

Visit the Richmond Raceway Complex, February 28th – March 2nd, for home and garden inspiration to help you love your space even more. Enjoy exclusive ticket discounts just for you!

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Compare Your Options

Consider your options when tapping into your home’s equity.

  • Terms

    Terms

  • Draw Period

    Draw Period

  • Repayment

    Repayment

  • Terms

    Fixed Rate / Up to 15 Years

  • Draw Period

    Full disbursement upon processing

  • Repayment

    Principal + interest payments over the life of the loan

  • Terms

    Variable Rate / 15 Years

  • Draw Period

    8 Years (Pay monthly principal + interest)

  • Repayment

    7 Years to pay full balance

INTEREST-ONLY HELOC

  • Terms

    Variable Rate / 20 years

  • Draw Period

    10 Years (Option to pay interest-only)

  • Repayment

    10 Years to pay full balance

Calculators

Let the numbers lead you home.

Need A Little More Information?

At Call Federal, our mission is to serve our members, not outside stockholders. This member-centric approach enables us to offer competitive rates on loans, higher rates on deposits, and fewer fees to our members in the Greater Richmond metro area. We also strive to provide a streamlined and hassle-free experience.

Advantages of a Call Federal Home Equity Loan:

  • Not-for-Profit Benefits: As a credit union, we reinvest our revenue back into our membership, delivering enhanced value.
  • Competitive Rates and Lower Fees: Benefit from favorable loan rates and reduced or no fees on select accounts.
  • Personalized Support: We take the time to understand your unique financial situation, working with you to improve your credit and secure the financing you need.
  • Transparent Communication: We ensure all terms, conditions, and any applicable restrictions are clearly explained, fostering trust and confidence.

By choosing a Call Federal Home Equity Loan, you’re partnering with a financial institution dedicated to your success, offering practical solutions and exceptional service.

Please contact us to discover how we can assist you and your family in securing an affordable payment, enabling you to leverage your home equity to achieve your dreams.

Choosing between a Call Federal Interest-Only HELOC, a traditional HELOC, or a Home Equity Loan depends on your financial goals and how you plan to use the funds. Here’s a quick guide to help you decide:

HELOC:
Ideal for ongoing expenses like home projects or unexpected costs, a HELOC provides a revolving line of credit with a set limit. You can withdraw funds as needed during the draw period and pay interest only on the amount you use. It offers maximum flexibility for evolving needs.

Home Equity Loan:
Best for fixed expenses such as major renovations or debt consolidation, a Home Equity Loan gives you a lump sum upfront. With a fixed interest rate and term, you’ll have consistent monthly payments, making it easier to budget.

Interest-Only HELOC:
Perfect for home improvement projects, large purchases, or managing debt, this option lets you make interest-only payments during the initial draw period. It provides immediate financial relief and flexibility while preserving cash flow.

Let us help you determine the right solution for your unique situation—contact Call Federal today!

Call Federal’s Home Equity Loans and Lines of Credit (HELOCs) offer several advantages to help you achieve your financial goals:

  • Competitive Rates: By using your home’s equity as collateral, you can secure lower interest rates compared to traditional loan options.
  • Flexible Options: Choose between fixed-rate Home Equity Loans for predictable payments or variable-rate HELOCs for ongoing access to funds, allowing you to select the structure that best suits your needs.
  • Versatile Use: Utilize the funds for various purposes, such as consolidating debt, financing home improvements, or managing unexpected expenses, giving you the freedom to allocate resources as you see fit.
  • Transparent Process: Benefit from a clear and cost-effective loan process with no application fees or prepayment penalties, ensuring you understand all terms and conditions.
  • Complimentary Financial Coaching: Access free financial coaching to make informed decisions about leveraging your home equity, empowering you with the knowledge to manage your finances effectively.

These benefits reflect Call Federal’s commitment to providing practical financial solutions and exceptional service to its members.

Call Federal can lend up to 100% combined loan to value (CLTV) on home equity loans and lines of credit.  CLTV simply means, we take any balance you may have on a mortgage (if applicable), plus your home equity loan or line amount and divide that by the appraised value of your property. The maximum CLTV approval may vary based on factors such as creditworthiness, collateral conditions, lien position, and other qualifying factors.  For personalized information regarding your eligibility and loan terms, please contact Call Federal directly.

An Interest-Only Home Equity Line of Credit (HELOC) is similar to a traditional HELOC in that it provides homeowners with a revolving line of credit secured by the value of their home. The key difference lies in how payments are structured.

With an Interest-Only HELOC, you are only required to pay the interest on the amount you borrow during the initial draw period, giving you greater financial flexibility. This can result in lower monthly payments upfront, but it’s important to plan for repayment of the principal balance after the draw period ends.

This option is ideal for homeowners looking to manage short-term expenses or projects while maintaining control over their cash flow. If you’d like to explore how this type of financing could work for you, contact us today!

Not finding what you’re looking for? See all FAQs.

We’re Here To Help!

Contact Call Federal today for more information and expert guidance to meet your needs.

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804.274.1200

Disclosures

APR=Annual Percentage Rate. The disclosed rate is valid as of February 1, 2025. Rates and conditions are subject to change at any time and may vary based on creditworthiness, qualifications and collateral conditions. Please consult with your loan officer when applying to see if this offer is still valid. Subject to membership in the credit union, credit approval and closing. Property insurance required. Offer only valid for new loans, and not valid for refinance of existing Call Federal loans or lines of credit. Property must be member’s primary residence and located in the Commonwealth of Virginia. If the application expires outside of the promotional period, this incentive cannot be renewed. Application must be submitted by 11:59PM EST on May 31, 2025. 1 The rate range is 5.75%-11.75% APR. Completed applications submitted February 1, 2025 thru May 31, 2025, are eligible for a $500 credit for any closing costs. 2Introductory rate of 5.25% APR valid for 12 months from account opening. Afterward, the APR can range from 7.50% to 9.175% APR based on Wall Street Journal Prime Rate + margin. Interest only payments required during the 10-year draw period and there may be significant monthly payment increases when the line of credit enters into repayment phase. A nominal flood insurance fee is assessed.