Top Lenders for Home Equity Loans & HELOCs in Florida

Florida's competitive mortgage market offers numerous options for tapping home equity. Major national banks, credit unions, and specialized lenders all operate statewide. Key players (2024 snapshot):

Major Banks (Branch Network + Digital)

• Chase: HELOCs up to 80-85% CLTV, 0.25% rate discount for auto-pay from Chase checking. $50k–$500k+. Branches everywhere.
• Bank of America: HELOCs & fixed-rate loan options. Preferred Rewards members get fee waivers/rate discounts. High loan limits ($1M+).
• Wells Fargo: Fixed-rate HELOC conversion option. No application fee. Digital closing available.
• Truist (ex-SunTrust/BB&T): Strong SE presence. HELOCs with rate caps. Relationship discounts.
• PNC: Choice HELOC (variable) & Fixed-Rate Equity Loan. Select FL markets.
• TD Bank: No appraisal fee ≤$250k. "Step Rate" HELOC option. East Coast/FL focus.

Credit Unions (Often Best Rates/Low Fees)

• Navy Federal (NFCU): #1 for military/veterans. No origination/appraisal/annual fees. Rates often 0.25–0.5% below banks. Must join (military affiliation).
• PenFed: Open to all (donate $5 to Voices for America's Troops). Competitive HELOCs.
• Addition Financial (CFE), Suncoast, VyStar, Florida Credit Union: Strong local FL presence, member-focused pricing.

Specialized / Digital Lenders

• Figure (HELOC only): 100% online, 5-day close, fixed-rate draws. Good for speed.
• Spring EQ, Hitch, LoanDepot: Digital-first, competitive for high-LTV (up to 95% CLTV).
• Homebridge Financial Services: Both HELOC & closed-end loan. Fast close.

Shopping Strategy

1. Check credit union eligibility first (often best all-in cost).
2. Compare APR (not just rate) — includes fees, margin, caps.
3. Ask for fee waivers (appraisal, origination, annual).
4. Verify FL license (NMLS).