Home Equity Loans

Home Equity Loans

Home Equity Loans (Fixed Rate)

Have a short-term need for a loan? A fixed-rate home equity loan allows you to use the equity in your home for home improvement, debt consolidation or the refinance of an existing balance.

Why choose Jax Federal? Choose from our Second Lien or our super low rate 10-Year First Lien Program, quick turnaround, and up to $500 credit toward closing costs⁴.

Second Lien Home Equity Loan

Fixed Rate, up to 95% LTVs for home improvement, great rates and multiple term options with approved credit. The example below is based on a $25,000 loan balance.

Displayed rate for borrowers with excellent credit. Don’t worry, other rates and terms are available.

1. Loans over $100,000 and/or loans with an LTV (Loan to Value) greater than 90% require a full appraisal.
2. Prepaid Finance Charges paid by the member. APR shows effect of pre-paid finance charges on the rate.
3. Principal and Interest (P&I) together equal the payment amount.
4. See section below with details on up to $500 credit toward closing costs.

First Lien Home Equity Loan

When a paid off home is on your horizon, our Fixed-Rate First Lien Home Equity Loan will get you there fast! Minimum loan amount is $50,000, Maximum amount $250,000. Enjoy our quick turnaround, and up to $500 credit toward closing costs⁴.

• Loan amounts over $100,000 require a full appraisal.

The example below is based on a $25,000 loan balance over 10 years.

1. Cash out is limited to $5,000.
2. Escrow for taxes and insurance may be needed and are not included in the principal and interest (P&I) payment amount shown above.
3. Prepaid Finance Charges paid by the member and affect the APR.
4. See section below with details on up to $500 credit toward closing costs.

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
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