Home Equity Lines of Credit

Borrow against your home with no pre-payment penalties.

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HELOC 2nd PositionHELOC 1st Position²

Home Equity Lines of Credit


Home Equity Lines of Credit (Variable Rate)

Get the money you need using the home you love! Use the equity in your home for ongoing needs during an 8-year draw period for life’s big expenses: home improvement, debt consolidation, travel, education, and emergencies. Enjoy easy access with digital banking transfers to your JAXFCU checking account or use free convenience checks.

Why choose Jax Federal? We offer a quick turnaround, up to $500 credit toward closing costs³, an Annual Rate Cap¹ that provides extra peace of mind, 8-year Draw Period³, Low Margins over the Index Rate. Make sure to use your line of credit as inactivity fees apply!⁴

  • Line Amount is $10,000 to $250,000 with a $5,000 minimum first advance. Loans over $100,000 require a full appraisal.
  • Draw period is 8 years with a 12-year repayment period. The payment is re-amortized after each advance or rate change based on the remaining months of the original 20-year term.


Loan to Value Ratio
Index Rate¹
Index Plus Margin

Displayed rate for borrowers with excellent credit. Other rates and terms are available. The rate and APR are the same. The actual rate is the greater of the current index rate plus the margin or the minimum rate (floor). The minimum rate is 3.25%. Payment is amortized based on the remaining term on the loan and is recalculated after each advance and/or annual change to the index rate. For example, on a $25,000 loan, the monthly payment would be $206.

Loan Amount
Remaining Term
Time of Advance
20 Years
At initial advance
12 Years
End of draw period (Max 8 years)
  1. Index: Variable rate subject to change annually based on prime rate as published in the WSJ (Wall Street Journal). Maximum rate is 15%, minimum rate is 3.25%. Maximum annual rate increase (Annual Cap) is 3% per year.
  2. First liens may require escrow of taxes and insurance which will increase the payment amount.
  3. See section below with details on up to $500 credit toward closing costs.
  4. $50 annual inactivity fee in January when prior YTD finance charges were less than $100.


Up to $500 credit for all home equity products

All rates include up to $500 credit toward closing costs; However, you will have to reimburse us a percentage of the fees if the loan is paid off in less than 3 years.

Loan Paid Off In
% Of Closing Cost Reimbursed to JAXFCU by the Borrower
Less than 12 Month
Less than 24 Months
Less than 36 Months

Closing cost fees may range from $400 to $2,000 or more based on the size of your loan. These fees are shown on the addendum to your note. Here is a list of the standard closing cost fees.

Flood Certification: $16.00
Recording of Deed: $159.25 to $200.00
Electronic Document: $30.00
Tax Service: $78.00
Appraisal Fee*:

  • $65 fee for loans under $100,000 and under
  • $575 fee for loans over $100,000

*Higher appraisal fees may apply on a case-by-case basis. Full appraisals needed for loans over $100,000 and for LTVs above 90%.

Title Fees:

  • Title Search Fee: $102.50 for loans under $200,000
  • Title Policy Fee: If over $200,000, the fee varies based off the loan amount.

State of Florida Documentary Stamps: .0035 per $100

Rates are effective as of March 13, 2023 and are based on creditworthiness and Loan to Value. Rates are subject to change without notice. Full appraisals required for loans over $100,000.

Helpful resources for Home Equity at JAXFCU

Home Equity Loans

Home Improvement Loan

Calculate Your Payment

Home Equity Checklist

What You Should Know About HELOCs

Home Equity LOC Early Disclosure

Home Mortgage Disclosure Act (HMDA)

Need Help?

Find detailed answers to our most frequently asked questions.

Ready to get started?

Apply your way! Online within Digital Banking, visit a branch or call 904-475-8000.
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