Home Equity Loans & Lines of Credit

Borrow against your homes equity.
Home Equity LoansHELOCs

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

Home Equity Loan (Fixed Rate)
Home Equity Line of Credit
Closing Costs
$500 credit toward closing costs
$500 credit toward closing costs
Fixed rate
Lowest possible rate; variable with annual rate cap
Funds Received
Receive the entire amount borrowed at one time
Receive the money as you need it
Payment Amount
Payments are based on a 5 to 20-year payback
Payment amount varies based on balance
The length of Loan
Up to 20 years
20 years (8-year draw period and up to 12-year payback period)
Loan to Value (LTV)
Up to 90% financing (Up to 95% for home improvements)
Up to 90% financing
Loan Amounts
Minimum draw $5,000 / $10,000 line up to $250,000
Can only draw on money one time
Variable rates
Primary residences in Florida and Southern Georgia only
Primary residences in Florida and Southern Georgia only

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 Equity Lines of Credit

Home Improvement Loan

Calculate Your Payment

Home Equity Checklist

What You Should Know About HELOCs

Home Equity 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.
Not a Jax Federal member yet? Non-member home equity loan & line of credit applications are fast and easy!

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