Home Equity Line of Credit
- Lines can be established using up to 90% of your home's value
- Good on Primary Residence, Second or Vacation homes, must be located in Florida or Georgia
- With a $5,000 initial advance, FCCU pays all closing costs, *(if advance is repaid within one year, member will reimburse Credit Union for all closing costs)
- Take subsequent advances at anytime, minimum advance amount $500
- Rate fluctuates quarterly, based on prime rate
- iLiveFIT! members receive up to 0.50% off their approved loan rate (discount doesn't apply to promotional offers).
Current Rates
LIFELINE Home Equity Line of Credit
| Terms | Other | Annual Percentage Rate |
|---|---|---|
| Maximum term of 20 years $5,000-$500,000 Up to 90% of market value | Maximum rate of 18% with 2% annual and 6% lifetime caps; 4.5% floor limit. | 4.5% - 4.75% |
Disclaimer
Rate determined by LTV; LTV maximum determined after a review of your individual situation. Loan amounts range from $5,000 to $500,000. Up to 90% of the value of your home, less 1st mortgage balance can be used to establish the line. Florida Commerce pays all closing costs, if balance is maintained for one year. Florida and Georgia Properties only. Call a financial services officer for details.
Rate floor is 4.5%; Your rate will range from Wall Street Journal Prime rate minus 1% to prime plus 1%, subject to the 4.5% floor. Rates are subject to a 2% annual cap and a lifetime cap of 6%; however, will never exceed 18%. Rates are subject to change quarterly; payments will be reset annually.
