MIDFLORIDA, Your Community Credit Union.

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Information for You

Home Equity Term

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

No Closing Costs

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. For a limited time, we’ll cover your closing costs1 on a new home equity loan under $250,000. (See General Information below.)

For ongoing expenses, consider a home equity line of credit.

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Apply Now

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


  • Loan amounts of $10,000-$500,000.
  • 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 (up to 20 years) 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 4.49%
Annual Percentage Rate (APR) 5.056%
Term 5 years = 60 months
Monthly payment amount $463.21
Effective date 02/01/2019

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 insurance is 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. 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.
  • 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 Limited time offer as of February 1, 2019, and may be cancelled without notice. Online appraisal may be used to determine home value. 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. Offer is not available for the refinance or consolidation of existing MIDFLORIDA loans.