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Last Updated: 04/18/2025

Members First CU Florida HELOC

from Members First Credit Union of Florida

Last Updated: 04/18/2025

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Highlights

Credit Score Range

600 - 850

Amount Range

$10,000 - $500,000

Maximum LTV

N/A

Minimum Draw

N/A

Loan Term (Years)

N/A

Members First CU Florida HELOC Review

Members First CU Florida HELOC is offered by Members First Credit Union of Florida (NMLS #490547), a credit union founded in 1954 and based in Pensacola, FL. Members First CU Florida HELOC are available in 1 state.

Key Takeaways

Fair credit accepted. Borrowers with a credit score as low as 600 may qualify for Members First CU Florida HELOC.
Only primary residences considered. Members First CU Florida HELOC does not offer financing for vacation homes or investment properties.
No-closing-cost mortgages available. This option allows you to include the closing costs into the new loan, so you don't pay for these expenses upfront.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.

Members First CU Florida HELOC Pros & Cons

Pros

Cons

Considers applicants with fair credit.

Charges an origination fee.
Charges prepayment fees.
No co-sign option available.
Only available in 1 state.

Members First CU Florida HELOC FAQ

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does Members First CU Florida HELOC charge for a HELOC?

Members First CU Florida HELOC may charge an origination fee.

What types of property can you use as security for a HELOC with Members First CU Florida HELOC?

Members First Credit Union of Florida may consider HELOCs secured by the following property types:

Primary residences

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Message from Members First CU Florida HELOC

At Members First Credit Union of Florida, every member is a part of our family. And family should always have a place to call home. We offer a large variety of products to make the process of buying or refinancing your home go as smoothly as possible. We know that the home buying or refinancing process can be overwhelming, so leave the details to us. Our experienced mortgage team will work with you to design a plan that is quick, affordable, and best fits your needs.

A Home Equity Line of Credit (HELOC) is a revolving line of credit, much like a credit card. Borrow as much as you need at any time without exceeding your credit limit. Also, because a HELOC is a line of credit, you make payments only on the amount that you actually borrow and not the full amount available.

Contact

Headquarters

P.O. Box 12983

Pensacola, FL 32591

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Hours of Operation

SundayClosedMonday9:00AM - 4:30PMTuesday9:00AM - 4:30PMWednesday9:00AM - 4:30PMThursday9:00AM - 4:30PMFriday9:00AM - 4:30PMSaturday8:30AM - 12:00PM

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SuperMoney Net Recommendation Score

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-1000+100

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