Home Equity Line of Credit (HELOC) – Flexible Financing for Florida Homeowners
Tap into your home’s equity with a HELOC and enjoy competitive rates, flexible terms, and the confidence of working with your local credit union.
What is a Home Equity Line of Credit?
A Home Equity Line of Credit (HELOC) is a revolving line of credit that lets you borrow against the equity in your home. Unlike a traditional loan, you can draw funds when you need them—perfect for renovations, debt consolidation, education, or unexpected expenses.
Key benefits of a HELOC:
- Competitive Adjustable Rate with a draw period of up to 10 years
- Borrow as you need, up to your approved limit
- Loan amounts up to $450,000
- Only pay interest on what you use
- Flexible repayment options with terms up to 20 years
Why Choose a HELOC from Connect Credit Union?
When you choose a HELOC with Connect CU, you’re choosing a Florida-based credit union that puts members first.
- Local decision-making: All lending decisions are made right here in Florida.
- Lower fees: Save more compared to big banks.
- Personal service: Guidance from a local team that knows you and your community.
- Convenient access: Draw funds in our mobile app, online, in-branch, or by transfer.
Popular Uses for a HELOC
Members across Florida use their home equity line of credit for:
- Home improvements and renovations
- Consolidating high-interest debt
- Paying for education costs
- Covering medical or emergency expenses
- Funding major life events
How a HELOC Works
- Apply online by phone or in-branch – quick pre-qualification.
- Get approved for a credit limit based on your home’s value.
- Access funds when needed – similar to using a credit card, but with lower rates.
- Make payments only on what you use, with flexible repayment terms.
HELOC Rates in Florida
Stay competitive with our current home equity line of credit rates.
FAQs About HELOCs
What is the difference between a HELOC and a home equity loan?
A HELOC is a revolving line of credit, while a home equity loan gives you a lump sum with fixed payments.
Can I use a HELOC for debt consolidation?
Yes, many members use their HELOC to pay off high-interest debt at a lower rate.
Are there closing costs?
At Connect Credit Union, we keep fees low so you can maximize your borrowing power.
Start Your HELOC Today
Take the next step toward flexible financing. Our Florida lending experts are ready to guide you.
