MIDFLORIDA, Your Community Credit Union.

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Home Equity Line of Credit

An open line of credit that can be used for major purchases or home improvements.

No Closing Costs

Pay no closing costs on a Home Equity Line of Credit under $250,0001. You can borrow up to 100% of your home’s purchase price2 to make home improvements with rates as low as 3.99% intro APR for 12 months and 5.50% to 18.00% APR3 thereafter. (See General Information below.)

If you prefer a fixed rate and monthly payment, take a look at our home equity loan.

Apply Online

With a Home Equity Line of Credit, a credit limit will be established based on the equity in your home and you’ll have the flexibility to use the money whenever you are ready, in any amount. You’ll enjoy lower payments since you’ll only pay back what was actually used. And as you pay down your balance, you can use the available credit again and again. Plus, you can have quick and easy access to your funds 24/7 with free Online Banking.

Apply Now

Apply Online or call our loan department at (863) 284-5626 or toll free (855) 560-5626 to apply.


  • Easily access your funds within Online Banking or over the phone
  • Enjoy a low variable rate during the draw period and a fixed rate during the repayment period.
  • Choose your payment, as low as 1% of the outstanding balance.
  • Use the funds over and over again as you borrow and repay.
  • Interest may be tax deductible. (Ask your tax preparer for details.)

View rates

Home equity line of credit annual percentage rate example

Line amount $25,000
Variable annual percentage rate (APR) 5.50%
Index rate (The Wall Street Journal Prime Rate) 5.50%
Effective date 01/01/2019

The variable Annual Percentage Rate (APR) for a new home equity line of credit is based on The Wall Street Journal Prime Rate plus a margin and will vary with the Prime Rate but will not exceed 18%.

Home equity line of credit monthly payment example

Line amount $25,000
Variable annual percentage rate (APR) 5.50%
Monthly payment amount $250
Effective date 01/01/2019

This monthly payment example assumes full utilization of the line.

General Information

  • The sample variable Annual Percentage Rate (APR) and monthly payment example shown in the tables above are for illustrative purposes only and assume a new home equity line of credit in second lien position on a owner-occupied primary residence, and a borrower with excellent credit.
  • The minimum line amount is $10,000 and maximum line amount is $500,000.
  • The term of the loan is 20 years: 10-year draw period, 10-year repayment period.
  • APR is based on The Wall Street Journal Prime Rate plus a margin and will vary with the Prime Rate but will not exceed 18%.
  • Rate and payment amount may vary based on property value, loan amount and other factors. Your actual rate and payment amount may be higher than the advertised rate and payment amount.
  • To open a home equity line of credit, you must pay certain fees to third parties such as appraisers, credit reporting firms and government agencies. Upon request, we will provide you with an itemization of the fees you will have to pay to third parties.
  • If we pay your closings costs and you pay off and close your line within 36 months, you must reimburse MIDFLORIDA in the amount of the fees paid by us.
  • Property insurance is required and flood insurance is required where necessary.
  • The approval of a home equity line of credit is subject to application, credit and acceptable property (property must be your primary residence).
  • A $5 deposit is required for membership with MIDFLORIDA and access to other products.

Limited time offer as of January 1, 2019, and may be cancelled without notice. Offer is available for owner-occupied property only and excludes manufactured homes. Online appraisal may be used to determine home value. Offer is not available for the refinance or consolidation of existing MIDFLORIDA loans.

1 Excluding any full appraisal or title policy if required. Appraisal or title fees could range between $300-$1200 when required, and will vary with the loan amount.

2 For home improvements only with licensed contractors. Not available for debt consolidations, cash outs or investment purposes. Not all homes will qualify to be mortgaged for more than their original purchase price.

3 After 12 months, the applicable Annual Percentage Rate (APR) may be 5.50% to 18.00%, depending on creditworthiness. The variable APR is as low as the Prime Rate (as low as 5.50% APR as of 01/01/2019) and is subject to change quarterly. There is no limit on the amount by which it can change in any one-year period.


Home Equity Debt Consolidation Calculator