Licensed in Florida
Florida Home Equity Loans & HELOCs
Florida homeowners have built significant equity, and the state's median home value sits above the national median. Florida also has closing costs and insurance considerations that don't exist in most states - documentary stamp and intangible taxes on new mortgages, and a demanding wind and flood insurance market - so it pays to understand the full cost before you borrow.
Florida Housing at a Glance
- Median home value
- $359,000
- 8% above the U.S.
- Homeownership rate
- 67.6%
- U.S.: 65.2%
- Monthly owner costs (with a mortgage)
- $1,959
- about the same as the U.S.
- Median household income
- $74,568
- 8% below the U.S.
Source: U.S. Census Bureau, American Community Survey 5-year estimates (2020-2024). Population: 23,462,518 (July 2025 estimate).
How Much Could You Borrow in Florida?
Lenders cap your combined loan-to-value (CLTV) ratio - everything you owe on the home, including the new loan or line, divided by its value. Here is what that means for a Florida home at the state median value of $359,000 with a $179,500 mortgage balance:
| CLTV limit | Maximum total debt | Available to borrow |
|---|---|---|
| 80% | $287,200 | $107,700 |
| 85% | $305,150 | $125,650 |
| 90% | $323,100 | $143,600 |
Illustration only. Your borrowing amount depends on your appraised value, mortgage balance, credit, income, and lender approval. Run your own numbers.
What Florida Homeowners Should Know
Documentary stamp and intangible taxes
Florida charges a documentary stamp tax of $0.35 per $100 on the amount of a new note and a nonrecurring intangible tax of 0.2% on new mortgages. On a $100,000 home equity loan that is roughly $350 plus $200. Ask how these taxes are handled in your closing costs.
Wind and flood insurance
Lenders require windstorm coverage in addition to standard homeowners insurance, and many Florida homes need flood coverage. Every home equity lender requires homeowners insurance, and federal rules require flood insurance when the home sits in a FEMA Special Flood Hazard Area. Have your current declarations page ready - an insurance lapse is one of the most common reasons closings slip.
Condominium eligibility
Florida's condominium safety laws now require milestone structural inspections and funded reserves for many buildings. A building with open inspection items or underfunded reserves can make a unit harder to finance, so check your association's status early.
Homestead protection still allows a HELOC
Florida's constitutional homestead protection shields your primary residence from most creditors, but it does not prevent you from voluntarily pledging your home as collateral. A home equity loan or HELOC is a lien you agree to, so your home can be at risk if you don't repay.
HELOC or Home Equity Loan?
HELOC (home equity line of credit)
A revolving line with a variable rate. Draw what you need during the draw period and pay interest only on what you use. Best for projects paid in stages or ongoing expenses.
How a HELOC worksHome equity loan
A lump sum with a fixed rate and the same payment every month. Best when you know the exact amount you need, like a quoted renovation or a debt payoff.
How a home equity loan worksLicensing and Consumer Protection in Florida
Mortgage lending in Florida is supervised by the Florida Office of Financial Regulation. Before you apply with any company, confirm its license on NMLS Consumer Access.
If you have a problem with a lender, you can contact the Florida Office of Financial Regulation or submit a complaint to the Consumer Financial Protection Bureau.
We serve homeowners throughout Florida, including Miami, Tampa, Orlando, Jacksonville, Fort Lauderdale, St. Petersburg, and Tallahassee.
Florida Home Equity FAQs
Common questions from Florida homeowners about HELOCs and home equity loans.
Can I get a HELOC or home equity loan in Florida?
Yes. National HELOC Rates is licensed to offer home equity products in Florida. Applications are completed online with our lending partner, Spring EQ, and are subject to credit, income, and property approval.
How much could I borrow against a typical Florida home?
The median Florida home is valued at $359,000. If you owed $179,500 on that home and a lender allowed an 85% combined loan-to-value ratio, you could borrow up to about $125,650. Your actual amount depends on your appraisal, credit, income, and the lender's limits.
Does Florida charge taxes on a home equity loan or HELOC?
Yes. New mortgages recorded in Florida are subject to a documentary stamp tax of $0.35 per $100 of the obligation and a nonrecurring intangible tax of 2 mills (0.2%). Florida has no state income tax, so any interest deduction is federal only.
Can I get a home equity loan on a Florida condo?
Often, yes, if it is your primary residence and the building meets the lender's project requirements. Buildings with incomplete milestone inspections, special assessments, or low reserves may not qualify.
What credit score do I need for a home equity loan in Florida?
Many home equity lenders look for a credit score of at least 620 to 680, with the best pricing typically at 740 and above. Lenders also review your debt-to-income ratio (often 43% to 50% maximum) and how much equity remains after the new loan.
How long does it take to get a HELOC in Florida?
Many applicants close within a few weeks. Timing depends on how quickly you provide documents, the appraisal or valuation method, title work, and scheduling. For a primary residence, federal law gives you three business days after closing to cancel before funds are released.
Ready to Use Your Florida Home Equity?
Check your rate online. You'll complete your application securely with Spring EQ.