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Home Equity Lines of Credit
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Last Updated: 04/18/2025

First Florida CU Home Equity Line of Credit

in Home Equity Lines of Credit from First Florida Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

$10,000 - $250,000

Maximum LTV

80%

Minimum Draw

N/A

Loan Term (Years)

Up to 20
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First Florida CU Home Equity Line of Credit Review

First Florida CU Home Equity Line of Credit is offered by First Florida Credit Union (NMLS #424215), a credit union founded in 1950 and based in Jacksonville, FL. First Florida CU Home Equity Line of Credit are available in 50 states and Washington, DC.

Key Takeaways

  • No primary residences considered. First Florida CU Home Equity Line of Credit does not offer financing for primary homes.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • Maximum LTV. First Florida CU Home Equity Line of Credit has a maximum loan to value ratio of 80%.

First Florida CU Home Equity Line of Credit Pros & Cons

First Florida CU Home Equity Line of Credit FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit secured by your home. Once approved, you can access funds by check, phone, credit card, or online up to your credit limit.
Borrowers can apply for lines of credit of up to $250,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.
The maximum loan-to-value (LTV) ratio goes up to 80%. This means total debt secured by the property cannot exceed this percentage of its value. For example, on a $100,000 home with a $20,000 mortgage balance, you may qualify for up to $60k in credit.

What are the terms for First Florida CU Home Equity Line of Credit?

HELOCs include a draw period followed by a repayment period. During the draw period, borrowers can access funds as needed up to the credit limit.
First Florida CU Home Equity Line of Credit offers home equity loans with a maximum term of 20 years and a draw period of up to 10 years.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does First Florida CU Home Equity Line of Credit charge for a HELOC?

First Florida CU Home Equity Line of Credit may charge an origination fee.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

500 W 1st St
Jacksonville, FL 32202
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Email Support

Hours of Operation

Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 6:00PM
Saturday
Closed

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