Home Equity Fixed Rate Loans with Partners Financial FCU in Richmond, VA

With Partners Financial FCU, you can easily tap into your home equity using a home equity fixed-rate loan. Enjoy competitive rates, exceptional local service, and a choice of terms to suit your budget and goals.


Benefits of a Partners Financial Home Equity Loan

You’ve likely built up equity in your home if your property has gained value while you’ve been steadily paying down your mortgage. A home equity fixed rate loan allows you to leverage that equity by receiving a lump-sum payment you can use to fund home improvement projects, debt consolidation, weddings, vacations, and much more!

Partners Financial home equity loans offer competitive, fixed rates to homeowners in our Richmond community. The application process is simple. You can even apply online and get your home equity loan pre-qualified to find out your expected loan amount and rate.

✔ Competitive, Fixed Interest Rates*

Home equity fixed-rate loans usually offer lower rates than HELOCs, personal loans, and credit cards, so you can save on interest. Fixed rates make budgeting easy because your payments stay the same for the life of your loan.

✔ Extended Repayment Terms

Our fixed-rate home equity loan options come with a loan term of 10 or 15 years so you can get the best monthly payment for your budget and goals. The 10-year term offers a lower rate, and the 15-year term brings lower payments.

✔ Borrow up to $100,000**

Get the funds you need to take care of all your financial goals in a convenient lump sum payment. The minimum for a home equity loan is $25,000. You need good credit and at least 10% home equity or a loan-to-value ratio no higher than 90%.

✔ We’ll Pay Your Closing Costs***

Partners Financial will cover your closing costs, except the cost of your full home appraisal and any unusual costs.


Home Equity Fixed Rate Loans in Richmond, VA

Home equity loans are the simplest way to accomplish major goals like a new kitchen or a dream family dream vacation. With low, fixed rates and generous terms, home equity financing can quickly take your quality of life to the next level.

  • Personalized Local Service: Partners Financial is here to serve our Richmond community with a range of quality financial products and services, including our home equity loans with fixed rates. We think and act locally to best serve your needs!
  • Stress-Free Application Process: Our home equity fixed-rate loan process is simple and secure. All credit decisions are made inside one of our local Richmond branches, and we’re committed to providing approvals as quickly as possible.
  • Easy Access to Funds: Once approved, we’ll transfer your home equity funds into your preferred account. You can access the money anytime using our convenient Online and Mobile Banking services or by visiting a branch in Richmond.

Home Equity Loan Rates

Partners Financial FCU offers competitive, fixed rates on home equity loans with terms of 10 or 15 years. For a customized quote, you can call our Mortgage Loan Department at (804) 446-6255.

See Our Home Equity Loan Fixed Rates

Home Equity Loan 10YRTemporarily UnavailableTemporarily Unavailable
Home Equity Loan 15YRTemporarily UnavailableTemporarily Unavailable

APR = Annual percentage rate. APRs shown above are based on a loan amount of $100,000.

*Rates are subject to change without notice. All rates are current.

How to Apply for a Home Equity Fixed Rate Loan

  1. Contact us by phone, email, or in person at a Richmond branch and we’ll get you off to the right start.
  2. Submit your application online and get pre-qualified to find out your expected credit limit and rate.
  3. Once approved, we’ll transfer the funds to your preferred account in a single payment.



“I love banking with Partners Financial Federal Credit Union. I’ve been a member since 1990. They offer excellent rates on credit cards and loans. The Tellers are friendly and always smiling.”

– Katerina M., Richmond, Virginia

FAQs About Home Equity Fixed Rate Loans

What credit score do you need to get a home equity loan? ⮟

Most home equity loans require a credit score of at least 675, but your credit score is not the only factor in our decision. We also look at your income, other debts, and the amount you want to borrow. In general, the higher your score, the greater your chance of approval. We work with members with all credit scores to help them get financed.

What can I use my home equity loan funds for? ⮟

Home equity fixed-rate loan funds can be used for just about anything! The most common uses include home improvements, remodeling, and repairs because these projects can add value to your home, so you have more home equity and may get a higher price when you sell.

Other uses include paying off the balance of high-interest credit cards, paying off medical bills, or covering ongoing medical expenses, vacations, weddings, and more.

Is the interest on my home equity loan tax deductible? ⮟

The interest you pay on your home equity loan may be tax deductible if the funds are used to substantially improve your home. For this reason, it’s a good idea to keep good records of when and how you use the money. You can then talk to your tax consultant to explore the tax advantages.

Is it better to get a home equity loan from a credit union? ⮟

Credit unions are member-owned not-for-profit financial institutions, so they pass on their profits to their members through lower rates and fewer fees. That alone means you’ll save money by financing through a credit union. But there are other benefits too.

Credit unions are known for their outstanding local service and commitment to their community. Loan decisions are made locally and not by an impersonal algorithm, so you’ll have a much more personable experience. And credit union members enjoy special benefits that aren’t usually offered by the bigger banks.

Should you get pre-qualified for a home equity loan before submitting your final application? ⮟

Yes, it’s a good idea to get pre-qualified before you apply for a home equity loan. Getting pre-qualified means you’ll know your likely loan amount and rate for your chosen term. That way, you can work out your estimated monthly payment and make sure you can comfortably afford to take out the loan.

Choose Partners Financial for Your Home Equity Loan

At Partners Financial FCU, we’re proud to offer you trusted member service and outstanding products to serve you at every stage of your financial journey, whether you’re buying a car or a home – or unlocking your home equity with a fixed-rate loan.


**Maximum loan/value ratio for fixed-rate loan is 90%. Maximum Loan or Line is $100,000. Appraisals required for all transactions. Terms and loan amount are based on member’s overall financial profile, collateral loan value ratio and credit history.

***Minimum disbursement to qualify is $25,000. Application, appraisal, and other fees may apply.

****Member repays closing if balance drops below $3,000 in first 36 months. Other restrictions may apply. Please consult with our mortgage loan officer for full details. NMLS #460266

You are leaving the Partners FFCU website and will be linked to an alternate Internet site not operated by the credit union. Partners FFCU is not responsible for the content of the alternate Internet website. Partners FFCU does not represent either the third party or you if the two of you enter into a transaction. Please be aware that privacy and security policies on the website to which you are being taken may differ from those practiced by Partners FFCU.

A $15. Convenience fee will be automatically added to your payment amount. Your maximum total payment amount (including the $15 convenience fee) cannot exceed $800. Payments initiated and approved by 3:00pm will be applied to your loan on the same business day. Payments initiated and approved after 3:00pm, or on a day that the credit union is closed (weekends and holidays), will be applied on the next business day. If you have a PFFCU debit card, please log into home banking to make your loan payment.

Please select OK to confirm and continue to the payment form.

Excludes mortgages and home equity lines of credit. A $25 fee is due at set-up for each loan. Loan must have been open for at least 6 months. Past due accounts do not qualify. One skip-a-pay allowed per calendar year (Jan-Dec).