Florida HELOC

A revolving line of credit secured by your Florida home equity. Draw funds as needed during the draw period, pay interest only on what you use.

Key Features

• Revolving line of credit — draw and repay as needed
• Interest-only payments during 10-year draw period
• Variable interest rate (typically Prime + margin)
• Borrow up to 85% CLTV
• 20-year repayment period after draw period ends
• No closing costs on many HELOCs
• Can be used for any purpose

Who Is This For?

• Homeowners who want flexible access to funds over time
• Home improvement projects done in phases
• Emergency fund backed by home equity
• Real estate investors funding down payments on new purchases

Florida-Specific Considerations

• Florida homeowners with strong equity positions
• Popular for hurricane preparedness upgrades (pay as you go)
• Variable rate means payments can change with market
• HELOC does not affect homestead exemption status