Home Equity Loans & Lines of Credit
A Home Equity Loan is a fixed-rate loan that allows members to borrow against the equity in their home.
- Monthly payment never changes
- Cover a single, large purchase – funds are disbursed to you in one lump sum
- Fixed interest rate is for the life of the loan or term of loan agreed upon
- Up to 95% LTV for home improvements
Home Equity Loan Payment Example:
A $25,000 loan with a 20-year term at 80% LTV would have a monthly payment of $201.40 @ 7.80% APR. See current rates and terms.
A Home Equity Line of Credit (HELOC) is a revolving credit line with a variable interest rate and payments.
- Provides an accessible source of cash
- Variable rate
- Low floor rate of 3.25%
- Only local credit union with an annual cap
- Lowest maximum rate in Jacksonville credit unions
- Member controls monthly payment based on the outstanding balance
- Funds can be advanced with convenience checks or through digital banking
Home Equity Loan & Home Equity Line of Credit Comparison
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.
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
- $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 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
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.
Not a Jax Federal member yet? Non-member home equity loan & line of credit applications are fast and easy!