Florida Home Equity Loan

Home Equity Lines in Florida

A home equity line of credit, as the name implies, is a revolving credit account that allows you, as a Florida homeowner, to draw upon your home equity. You can close your home equity line of credit and then draw upon funds when you need them.

If you're like most of your neighbors, your home is your most valuable asset, so it can be valuable collateral to secure a home equity line of credit at a very reasonable rate.

As an experienced Florida Mortgage Broker office, Capital Lending Corp. has originated many home equity lines of credit for clients with different financial goals. A home equity line was an ideal mortgage solution for a St. Petersburg, Florida woman who decided to attend graduate school full-time at mid-life.

Capital Lending has closed many home equity lines of credit for clients who don't intend to ever use them. It's a cliché in banking, but it's hardest to get a loan when you most need it. Having a home equity line in place is inexpensive safety net if you lose your job or have a costly medical emergency. A Florida home equity line of credit can be the perfect way to bridge many unexpected, and unplanned, financial gaps.

We have excellent home equity programs that do not require a minimum draw. As with any mortgage product, you'll definitely want to ask you tax professional as IRS regulations can change annually. However, in some cases, interest paid on a home equity loan can be tax deductible.

A New Port Richey, Florida client used a home equity line of credit to pay for a new roof, kitchen, and chain link fence. No matter what home improvement projects top your to-do list, the funds from a home equity line can be a great way to get from dream to done.

For the less savvy Florida homeowner, your equity is the difference between what you owe on your home, and what your home is worth. Depending on your Credit scores, you may be able to borrow up to 70%, 80%, 90%, or even 100% of the fair market value of your home. And the funds from your home equity line of credit can be used for any purpose: payoff high interest debt, pay for college, renovate a home, purchase an investment property in Clearwater, Florida or for any other purpose.

On home equity lines of credit, the payments are usually tied to the Prime Rate published daily in the Wall Street Journal. Depending on your credit, the Lender will add a fixed percentage to the interest rate that is usually between zero and three percent. This applies to any home equity product, regardless of who originates the loan. The added amount is the margin, or lenders profit, and the amount depends on your Credit Score and how risky the lender thinks the home equity loan is.

At Capital Lending, we have home equity lines of credit for Florida homeowners for almost any situation. We even have lenders who allow home equity loans that require no docs! We also have lenders who offer home equity lines of credit that have virtually no closing costs and do not require in person appraisal. Call 1-813-629-1111 today or use our Quick Inquiry form to get more information on our variety of Florida home equity lines of credit.