HELOC Rates FloridaBest FL Home Equity Line of Credit Rates

Compare home equity line of credit (HELOC) rates in Florida

(Last Updated: 10/02/2023)
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Conditions:
Please note that the interest rates offered are subject to change based on market conditions and borrower eligibility. The pricing and rate provided are accurate as of the specified date. It is important to be aware that the minimum loan amount for any loan program is $50,000. The specific amount and terms of the credit offer will be determined based on underwriting approval and guidelines, which include factors such as your credit history, your ability to make payments, and the available equity in your home. To qualify for this offer, you must meet the required criteria and demonstrate creditworthiness. Additionally, providing up to two years of income verification may be necessary. The severity of your credit may also impact the required down payment. It is crucial to understand that the lender reserves the right to cancel this offer if the provided information cannot be verified. Please note that all bankruptcies must be discharged in order to be eligible. This offer is nontransferable and is specifically available for single-family residences or owner-occupied condominiums. Please be aware that mobile homes and cooperatives are not included in this offer. It is important to note that the lender must hold a valid first lien position, and property hazard insurance is a requirement. These are some key details to consider when evaluating this offer. It is essential to thoroughly review the terms and conditions and seek clarification from the lender regarding any specific questions or concerns you may have before proceeding with the application process.
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HELOC approval in 5 minutes, funding in 5 days. Borrow up to $400k online.
Conditions:
The Figure Home Equity Line is an open-end product where the full loan amount (minus the origination fee) will be 100% drawn at the time of origination. The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw.
  • Fastest way to turn home equity into cash
  • Flexible terms, redraw up to 100%, borrow $15k-$400k
  • Approval in 5 minutes. Funding in as few as 5 days
  • Use to consolidate debt or finance your next home project
Cash-Out and Home Equity Options Available.
Conditions:
Cash-Out and Home Equity Options Available.
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4.990% Intro APR
8.900% After Intro PeriodIntro Period: 6 months		 8.900% Rate $0 Min. Initial Draw Amount
8.500% Intro APR
8.750% After Intro PeriodIntro Period: 36 months		 8.750% Rate $10,000 Min. Initial Draw Amount
7.090% Intro APR
8.250% After Intro PeriodIntro Period: 12 months		 8.250% Rate $0 Min. Initial Draw Amount
9.790% Intro APR
10.500% After Intro PeriodIntro Period: 12 months		 10.500% Rate $0 Min. Initial Draw Amount
8.500% APR 8.500% Rate $20,000 Min. Initial Draw Amount
9.650% APR 9.650% Rate $0 Min. Initial Draw Amount
6.990% Intro APR
10.100% After Intro PeriodIntro Period: 12 months		 10.100% Rate $25,000 Min. Initial Draw Amount
7.990% Intro APR
10.620% After Intro PeriodIntro Period: 6 months		 10.620% Rate $50,000 Min. Initial Draw Amount
9.750% APR 9.750% Rate $0 Min. Initial Draw Amount
8.750% APR 8.750% Rate $0 Min. Initial Draw Amount
5.490% Intro APR
7.615% After Intro PeriodIntro Period: 12 months		 7.615% Rate $0 Min. Initial Draw Amount
9.500% APR 9.500% Rate $0 Min. Initial Draw Amount
5.990% Intro APR
9.000% After Intro PeriodIntro Period: 6 months		 9.000% Rate $10,000 Min. Initial Draw Amount
7.740% Intro APR
9.990% After Intro PeriodIntro Period: 12 months		 9.990% Rate $0 Min. Initial Draw Amount
9.340% APR 9.340% Rate $0 Min. Initial Draw Amount
10.750% APR 10.750% Rate $0 Min. Initial Draw Amount
9.000% APR 9.000% Rate $0 Min. Initial Draw Amount
5.990% Intro APR
9.750% After Intro PeriodIntro Period: 6 months		 9.750% Rate $0 Min. Initial Draw Amount
8.750% APR 8.750% Rate $10,000 Min. Initial Draw Amount
8.500% APR 8.500% Rate $5,000 Min. Initial Draw Amount
8.300% APR 8.300% Rate $0 Min. Initial Draw Amount

Disclaimer:
Data provided by Icanbuy. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.

Home Equity Line of Credit - Rates are based on a variable rate, second lien revolving home equity line of credit for an owner occupied residence with an 80% loan-to-value ratio for line amounts of $50,000 or $50,000+. Discount indicates the amount of reduction in the Rate for having monthly payments automatically deducted from an account and/or for having other relationship accounts with the institution, expressed as a percentage. Rates shown may be subject to regional pricing. Conditions 'No closing costs' indicates that customer is not required to pay closing costs on the line of credit. 'With closing costs' indicates that customer is required to pay closing costs on the line of credit. Rates displayed may include discounts. Rates are subject to change without notice.

Home equity lines of credit (HELOCs) are a popular way for homeowners in Florida to access the equity they have built up in their homes. A HELOC is a revolving line of credit that is secured by the equity in your home. This means that you can borrow against the equity in your home, up to a certain limit, and then repay the loan over time. In Florida, home equity lines are subject to certain regulations that borrowers should be aware of.

One of the main regulations in Florida regarding HELOCs is the requirement for lenders to provide borrowers with a disclosure statement that outlines the terms and conditions of the loan. This statement should include information about the interest rate, fees, and any other costs associated with the loan. Borrowers should review this statement carefully before taking out a HELOC to ensure that they understand the terms of the loan.

Another regulation in Florida that affects HELOCs is the requirement for lenders to provide borrowers with a three-day right of rescission. This means that borrowers have three business days to cancel the loan without penalty. If you are considering taking out a HELOC, be sure to ask your lender about this right of rescission.

Overall, HELOCs can be a useful tool for homeowners in Florida who need to access the equity in their homes. However, it is important to be aware of the regulations and requirements that apply to these loans in Florida to ensure that you make an informed decision. Be sure to review your options carefully and speak with a trusted financial advisor before taking out a HELOC.

https://consumer.ftc.gov/articles/home-equity-loans-and-home-equity-lines-credit

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