MIDFLORIDA, Your Community Credit Union.

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Home Equity Term

A closed-end loan that provides predictable payments and a fixed interest rate.

Put your home’s equity to work

When you know how much you want to borrow and want to use your home to secure the loan, a Home Equity Loan may be what you need. By borrowing against the equity in your home, you can use the cash for whatever you like. Add an additional room or two to your house. Pay for your child’s college tuition. Go on a much-needed vacation. Or consolidate your debt. Whatever you decide, a Home Equity Loan is a sensible solution for covering large expenses.

Plus, for a limited time, we’ll cover your closing costs1 (up to $500) with a new home equity loan of at least $25,000. (See General Information below.)

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Call our loan department at (863) 284-5626 or toll free (855) 560-5626 to apply


  • Receive all your funds up front as a lump sum.
  • Get a rate and payment that will remain the same during the life of your loan.
  • You can establish a specific term so you’ll know exactly when your loan will be paid off.
  • Interest may be tax-deductible. (Ask your tax preparer for details.)

View rates

Home equity loan payment example

Loan amount 25,000
Fixed rate 4.24%
Annual Percentage Rate (APR) 4.472%
Term 5 years = 60 months
Monthly payment amount $463.21
Effective date 09/01/2017

General Information

  • The sample Annual Percentage Rate (APR) and monthly payment example shown in the table above are for illustrative purposes only and assume a new home equity loan in second lien position on a owner-occupied primary residence, a 5-year term and a borrower with excellent credit.
  • The minimum loan amount is $10,000.
  • Rate and payment amount may vary based on property value, loan amount and other factors. Your actual rate and payment amount may be higher or lower than advertised rate and payment amount.
  • Property insurance is required and flood insuranceis required where necessary.
  • To open a home equity loan, you must pay certain fees to third parties such as appraisers, credit reporting firms and government agencies. These fees generally total between $300 – $600. Upon request, we will provide you with an itemization of the fees you will have to pay to third parties.
  • The approval of a home equity loan is subject to application, credit and acceptable property (property must be your primary residence).
  • To obtain a home equity loan from MIDFLORIDA, a security interest will be taken on borrower’s owner-occupied primary residence as collateral. The home equity loan must be in first or second lien position only.
  • Mobile homes, manufactured homes, lots or homes undergoing construction, commercial, investment and rental properties are not eligible collateral.
  • Primary borrower must be a title holder on collateral.
  • A $5 deposit is required for membership with MIDFLORIDA and access to other products.

1 Offer valid as of September 1, 2017 and may be cancelled without notice. Offer is not available for the refinance or consolidation of existing MIDFLORIDA loans. Closing costs generally range between $300 – $600, and will vary with the loan amount. For new home equity loans of $25,000 or more, MIDFLORIDA will pay up to $500 of closing costs.