Home Equity Options

Buying a house is the single largest investment most of us will make. Over time, the value built up in a home becomes a tremendous asset. Call Federal’s home equity loans allow you to turn that value into much needed cash for improvement projects, debt consolidation, college tuition, or any number of large expenses.

Featured Product

Interest-Only, 20-Year Home Equity Line of Credit

With a ten-year draw period and the option to only make interest payments on borrowed funds, our “HELOC-20” offering is incredibly popular with our members for the added flexibility it gives them with their finances.

Key Benefits

Favorable Rate

Using the value in your home to secure your loan allows you to receive a much better interest rate on the money you’re borrowing. See current rates for all of our Home Equity products in the table below.

Unlimited Uses

Once approved, there’s no restriction on how you use your funds. Home repairs and upgrades, college tuition, debt consolidation, even paying for a wedding, are among the many kinds of the expenses made more manageable by our HELOC products.

Flexible Funding & Repayment

As mentioned above, the option to make interest-only payments throughout the draw period has proven beneficial in a variety of ways. We take pride in working with our members to find the right fit for each family and situation.

Home Equity Loans  –  At A Glance

Home Equity Line of Credit* Interest-Only Home Equity Line* Home Equity Loan
Terms Variable Rate / 15 Years Variable Rate / 20 years Fixed Rate / Up to 15 Years
Rate 3.25%** APR 3.75%** APR 10 Years – As low as 3.75% APR
15 Years – As low as 4.00% APR
Draw Period 8 Years
Pay monthly principal + interest
10 Years
Option to pay interest-only
 Full disbursement upon processing
Repayment 7 Years to pay full balance  10 Years to pay full balance Principal + interest payments over the life of the loan.
*INCLUDES 0.50% rate discount with automatic payments from a Call Federal Checking ACCOUNT
** any RATE changes FOR INTEREST-only (20-YR) home equity lines are made ON THE FIRST DAY OF EACH MONTH. the 15-YR home equity line of credit is adjusted quarterly, IF needed, on the first day of January, April, July and October. INTEREST RATES ARE BASED ON The Prime Rate AS published in the Money Rates column of the Wall Street Journal.

Additional Resources


a young boy and girl wearing masks and capes like super heros

In this entry on our Financial Insights blog, we explore some of the ways that a Home Equity Line of Credit can unlock certain “powers” that homeowners can tap into that can improve their financial health.

Father and son working on project in driveway

The Right Time For HELOCs  (Blog)

Even if you have no intention to sell your home right now, a hot housing market can lead to increased equity that you can use for a variety of projects and other financial needs.

Decide that a home equity loan isn’t for you? Our personal loan options may give you the financial flexibility or short-term funds that you need

Learn more about loan payments, mortgage and refinance savings, at our Calculator Center.

Ways to Apply

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Apply Online

Don’t wait to use the equity in your home to make things happen.

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Visit a Branch

Our experienced staff can walk you through the options to get started.

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Ask Us Anything

Get your project going with a quick call to our loan consultants.