Use Your Equity Your Way
Home Equity Loans
A home equity loan, commonly referred to as a second mortgage, may be an excellent way to utilize the equity in your home for a variety of reasons. It may be utilized to finance:
- Educational expenses
- Big-ticket purchases such as a boat, car, second home, or a once in a lifetime vacation
- Unexpected major medical expenses
- Consolidate credit card debt into a lower interest rate loan
No Closing Costs
We Offer 2 Types Of Home Equity Loans
Home Equity Loan
Receive a lump sum for large expenses. Use a home equity loan for big-ticket purchases or debt consolidation. We offer 5 year, 7 year and 10 year fixed home equity loans with low, fixed interest rates. A longer term means lower payments. A shorter term means quicker payoffs.
Home Equity Line of Credit
Borrow what you need, when you need it. You can draw up to the limit of your line for five years. As you pay the line down, the funds become available to use again. Consult your tax advisor regarding interest deductibility.
Learn more about our Early Bird Fixed Rate Special.
What Is A Second Mortgage?
A second mortgage is a home equity loan or home equity line of credit. A second mortgage uses your home as collateral, similar to a loan you might have used to purchase your home. It is referred to as a second mortgage because your purchase loan is typically the first loan that is secured by a lien on your home.
We Florida Financial is an Equal Housing Opportunity Lender.
Home Loan Rates Learn more
Terms vary based on collateral, loan amount, and credit worthiness. Ask us for details.