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Make your house feel like home

Say goodbye to your outdated kitchen, bathroom or bedroom with the help of a home equity line of credit.

Maximize Your Budget

An interest-only home equity line of credit (HELOC) means you pay only the monthly interest during the draw period, which can give your budget some flexibility while you're making home renovations. Keep in mind, interest-only payments will not repay the principal that is outstanding on your line. Plus, enjoy no closing costs on lines of credit under $400,000.1

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

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

View home equity line of credit rates.

Features

Learn about Interest-Only Payments

  • Only pay the monthly interest each month.
  • Pay no closing costs on lines of credit under $400,000.1
  • Use the funds over and over again as you borrow and repay.
  • Easily access your funds within Online Banking or over the phone.
  • Minimum loan amount $10,000.
  • Interest may be tax deductible. The interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes. Consult a tax adviser for further information regarding the deductibility of interest and charges.

Details

How does an Interest-Only Payments HELOC work?

How to Apply

Apply Today

Apply in Person - Find your nearest MIDFLORIDA branch

Apply by Phone - Call 855-560-5626

Notices & Disclosures
1
Offer may be canceled without notice. Membership and eligibility requirements apply. Approval subject to application, eligibility, credit and acceptable property (must be your primary residence, manufactured homes excluded; acceptable appraisal and title required; condos or townhouses eligible only if loan pays off all other mortgages and liens). Property insurance required. Flood insurance when required. Online appraisal typically used to determine home value. Not available for refinance or consolidation of existing MIDFLORIDA loans. Minimum loan amount $10,000. Not all homes will qualify to be mortgaged for more than their original purchase price. Other terms and conditions apply. See your loan officer for details. For an Interest-Only HELOC: The variable Annual Percentage Rate (APR) may be 8.00% to 18.00%, depending on creditworthiness. Variable rate is based on the Wall Street Journal Prime Rate (8.00% as of 10/1/2024) and is subject to change quarterly. Maximum APR is 18.00%. $25 fee for advances less than $100. “No Closing Costs” applies to eligible loan under $400,000 on primary residence with a combined loan to value (CLTV) of 75% or less for homes on platted lot and 65% LTV for condos or townhouses. Does not apply to purchase transactions. Appraisal, survey, title policy and other closing costs at borrower’s expense may be required on other loans. Costs subject to recapture within 36 months.