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Home Equity Lines Of Credit (HELOCs)

Homeowners deserve a financial security blanket.

Funds On Demand For Homeowners

RadiFi’s Home Equity Lines of Credit (HELOCs) offer quick and convenient funding to homeowners for a variety of goals and up to $500 credit towards closing costs*.

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Meet Any Goal

Home Equity Lines of Credit (HELOCs) can be used to meet a diverse set of goals, including home improvement, debt consolidation, travel, education expenses, and emergencies.

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Long Draw Period

An eight year draw period gives you the long timeline of funding needed to meet life’s occasional large expenses.

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Low Margins over Index Rate

Avoid the burden of unexpected and heavy debt with RadiFi’s commitment to maintaining Low Margins over the Index Rate.

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Easy Access

You can opt for free convenience checks or have funds transferred to your account with digital banking transfers.

Inactivity fees1 may apply.

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Peace Of Mind

Avoid nasty surprises with our Annual Rate Cap2 which limits the annual rate increase that you pay for borrowing.

Line Amount is $10,000 to $250,000 with a $5,000 minimum first advance. Loans over $100,000 require a full appraisal.

Draw period is 8 years with a 12-year repayment period. The payment is re-amortized after each advance or rate change based on the remaining months of the original 20-year term.

  • 0-80% Loan to Value Ratio

    0-80% Loan to Value Ratio

  • 81-90% Loan to Value Ratio

    81-90% Loan to Value Ratio

Index Rate2

  • 0-80% Loan to Value Ratio

    8.50%

  • 81-90% Loan to Value Ratio

    8.50%

Margin

  • 0-80% Loan to Value Ratio

    0.00%

  • 81-90% Loan to Value Ratio

    0.25%

Index Plus Margin

  • 0-80% Loan to Value Ratio

    8.50%

  • 81-90% Loan to Value Ratio

    8.75%

APR

  • 0-80% Loan to Value Ratio

    8.50%

  • 81-90% Loan to Value Ratio

    8.75%

Displayed rate for borrowers with excellent credit. Other rates and terms are available. The rate and APR are the same. The actual rate is the greater of the current index rate plus the margin or the minimum rate (floor). The minimum rate is 3.25%. Payment is amortized based on the remaining term on the loan and is recalculated after each advance and/or annual change to the effective rate. For example, on a $25,000 loan, the monthly payment would be $217.

  • Loan Amount $25,000

    Loan Amount $25,000

  • Loan Amount $25,000

    Loan Amount $25,000

Rate

  • Loan Amount $25,000

    8.50%

  • Loan Amount $25,000

    8.75%

Payment

  • Loan Amount $25,000

    $217

  • Loan Amount $25,000

    $278

Remaining Term

  • Loan Amount $25,000

    20 Years
  • Loan Amount $25,000

    12 Years

Time of Advance

  • Loan Amount $25,000

    At initial advance

  • Loan Amount $25,000

    End of draw period (Max 8 years)

Closing Costs

Up to $500 Credit for All Home Equity Products*

Loan Paid Off In

% Of Closing Cost Reimbursed to RadiFi by the Borrower

* All rates include up to $500 credit toward closing costs. However, reimbursement is required as a percentage of the fees if the loan is paid off in less than 3 years.

Closing cost fees may range from $400 to $2,000 or more based on the size of your loan. These fees are shown on the addendum to your note. Here is a list of the standard closing cost fees.

Flood Certification: $16.00
Recording of Deed: $159.25 to $200.00
Electronic Document: $30.00
Tax Service: $78.00
Appraisal Fee:

  • $65 fee for loans under $100,000 and under
  • $575 fee for loans over $100,000

Higher appraisal fees may apply on a case-by-case basis. Full appraisals are needed for loans over $100,000 and for LTVs above 90%.

Title Fees:

  • Title Search Fee: $102.50 for loans under $200,000
  • Title Policy Fee: If over $200,000, the fee varies based on the loan amount.

State of Florida Documentary Stamps: .0035 times the loan amount.

APR = Annual Percentage Rate. APRs listed are effective as of 03/01/24 and subject to change at any time without notice. Your rate may be higher than the stated APR. Rates are based on creditworthiness, loan-to-value, and other criteria.

Loan Paid Off In

Less than 12 Month

% Of Closing Cost Reimbursed to RadiFi by the Borrower

100%

Loan Paid Off In

Less than 24 Months

% Of Closing Cost Reimbursed to RadiFi by the Borrower

50%

Loan Paid Off In

Less than 36 Months

% Of Closing Cost Reimbursed to RadiFi by the Borrower

25%

ALL YOUR BURNING QUESTIONS ANSWERED

Only your primary residence located in Florida or Georgia can be used to secure a Home Equity Loan or Line of Credit.

  • The payment is re-amortized after each advance or rate change based on the remaining months of the original 20-year term.
  • Payment Options: Automatic transfer, cash or check, and Digital Banking.
  • Processing Time: Approximately 2-3 weeks.
  • Home Equity Early Disclosure

The draw period is up to 8 years. The total payback period is a maximum of 20 years.

Receive a relationship discount of 0.25% off your next HELOC!

Our thanks for being a great RadiFi Member.
Qualify for our discount by having an active checking account and $1,000+ per month in payroll direct deposit.

HAVE QUESTIONS? LET’S CHAT.

Our local team of mortgage experts are ready and able to answer your questions regarding home buying, refinancing, home equity loans and lines of credit, and more.

Apply for a Loan
Apply online
Call Us
904-475-8000

Disclosures

1 $50 annual inactivity fee in January when prior YTD finance charges were less than $100.

2 Index: Variable rate subject to change annually based on prime rate as published in the WSJ (Wall Street Journal). Maximum rate is 15%, minimum rate is 3.25%. Maximum annual rate increase (Annual Cap) is 3% per year.

3 First liens may require escrow of taxes and insurance which will increase the payment amount.

*See section above for details on up to $500 credit toward closing costs.

 

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