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A home equity loan, also known as a second mortgage, enables you to borrow money by leveraging the equity you've earned in your home. You can use these funds to pay for things like:

  • Home Improvements/Renovations
  • Consolidating Debt
  • Medical Expenses
  • Vacations
  • And More!

With a Community First Home Equity Loan, you can also take advantage of no closing costs*, special low rates, no annual fees, and so much more!

Depending on your needs, you may want to consider a Fixed-Rate Home Equity Loan or a Home Equity Line of Credit (HELOC). Click below to learn more about each of these options.

When it comes to your home, you deserve to dream big. With a Fixed-Rate Home Equity Loan, you can get the cash you need to finance those home projects! Whether you want to build your backyard oasis or upgrade your kitchen, utilize the equity in your home today so you can get closer to living in your dream home!

How it Works:

With a Fixed-Rate Home Equity Loan, the funds are dispersed in one lump sum and paid back through fixed-rate monthly payments.

Benefits of a Fixed-Rate Home Equity Loan:

  • Lower rates
  • Level principal
  • Decreasing loan balances
  • Your rate won't change even if the market does

At Community First, we want you to be prepared. With a Home Equity Line of Credit (HELOC)** you have the luxury to borrow as much or as little as you need as soon as you need it. Have access to instant cash for things like debt consolidation, medical expenses, or anything life throws your way.

What is a HELOC?

A Home Equity Line of Credit (HELOC) uses the equity in your home to establish a line of credit for immediate and future lending needs. Unlike a home equity loan, a HELOC allows you to borrow up to a certain amount during your draw period, instead of receiving all of the money upfront. You can borrow as little or as much as you need and only pay for what you borrow. Another advantage of a HELOC is it typically has lower interest rates than most other loans.

How it Works:

In order to receive a HELOC, you must have available equity in your home. This means you owe less than what your home is worth. Once you receive a HELOC, you will have a draw period to use funds as needed for any expenses that may come up. Similar to a credit card, as you pay the outstanding balance on your line of credit, your available funds are re-established.

Benefits of a HELOC

  • Lower Rates
  • Revolving Line of Credit
  • No Annual Fee




Completing an application online is easy and only takes about 10 minutes! Click below to get started.

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Still have questions? Reach out to our 24/7 Mortgage Champion Hotline any time, day or night.

Call us at 904.545.5885



Not ready right now? Schedule an in-person or over-the-phone appointment.

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Federally insured by NCUA. Membership is open to anyone who lives, works, or attends school in one of the following counties: Baker, Brevard, Broward, Clay, Duval, Flagler, Indian River, Lake, Martin, Nassau, Orange, Palm Beach, Putnam, Seminole, St. Johns, St. Lucie, or Volusia. Membership is also open to any relative of an existing or eligible Community First Credit Union of Florida member. We also offer membership to Select Employer Groups, including all employees of Brooks Rehabilitation, Miller Electric Company, and Credit, income, and other restrictions may apply. Minimum loan amount for jumbo mortgages is $647,201. This special offer is available on all conventional first mortgage programs. All mortgage loans subject to credit approval. Offer may end at any time without notice.

Community First will pay the closing cost associated with home equity loans, excluding the cost of a full appraisal if required. Fixed rate equity loan terms are 10, 15 & 20 years. Home Equity Loan payment example: $50,000 borrowed for a 10 yr. term at 5.28% APR would equal a payment of $537.20 a month. Minimum loan amount is $10,000. Maximum loan amount is $200,000. Maximum loan-to-value is 90% of the property value. All home equity loans are subject to credit approval. Some other restrictions may apply

*Community First will pay all the closing cost for home equity loans excluding the cost for a full appraisal if needed. Home equity loans are available on primary and secondary residences only. Maximum loan amount is $250,000. Some exclusions and restrictions apply. All mortgage loans subject to credit approval. This offer may end at any time

*Minimum loan amount $10,000. Maximum loan amount $200,000. The HELOC is a line of credit that allows you to make draws against the line for ten years. Monthly payment is based on 1% of the outstanding principal balance. Payment example: Line amount is $50,000. Outstanding balance is $25,000, payment is $250. Minimum payment is $50. Maximum loan-to-value is 90% of the property value. APR = Annual Percentage Rate. Rates may vary daily. All home equity lines of credit are subject to credit approval. Some other restrictions may apply.