Using Your Home Equity in Florida
For many Florida homeowners, their home represents one of their largest sources of accumulated wealth. Florida’s typical home value was $375,361 as of September 30, 2026, according to Zillow. Meanwhile, Florida single-family home prices increased 37.47% over the five years ending in the second quarter of 2026, according to the seasonally adjusted Purchase-Only FHFA House Price Index.
Home-price appreciation varies across Florida’s metropolitan areas. Those local differences can affect how much equity homeowners have accumulated and, in turn, how much they can borrow through a home equity loan or home equity line of credit. This guide explains how home equity financing works for Florida homeowners. For a broader overview, visit Griffin Funding’s home equity loans and lines of credit hub.
Sources: Zillow home value data through September 2026 and Federal Housing Finance Agency House Price Index data for 2026Q2, released in August 2026.
Griffin Funding’s Home Equity Options in Florida
Learn more about each program on our HELOC, fixed-rate HELOC, and home equity loan pages.
Griffin Funding offers four ways to borrow against your home equity in Florida. Two are fully digital and fund in days. Two are traditional programs that go up to $1 million and let you qualify with bank statements or rental income instead of tax returns. On Florida’s typical home, worth about $375,361, borrowing up to 90% of the home’s value means total debt on the property can reach roughly $338,000; a homeowner who owes half the home’s value could access around $150,000. Every program starts with a soft credit pull, so you can see your offers without touching your credit score, and none of them carries a prepayment penalty when you qualify with your own income.
Digital Variable-Rate HELOCVariable rate · $25,000 to $750,000 · funds in days
Digital Fixed-Rate HELOCFixed rate · $25,000 to $750,000 · 5-minute pre-approval
Traditional HELOCVariable rate · $100,000 to $1,000,000 · alt doc friendly
Fixed-Rate HELOANFixed rate · $100,000 to $1,000,000 · one lump sum
Every program: soft credit pull to see your pre-approval and offers; a hard pull happens only after you accept. No prepayment penalty when you qualify with your own income; the DSCR HELOC has none, and the DSCR HELOAN offers options with or without one (see the investor section below).
“Max borrowing” is combined loan-to-value (CLTV): your existing mortgage plus the new loan, as a share of your home’s value. Maximums step down at lower credit scores. Variable rates are indexed to the WSJ Prime Rate plus a margin. Loans above the no-appraisal thresholds require a full appraisal; digital fixed-rate HELOCs from $400,000 to $750,000 also require a 760+ credit score. On the digital variable-rate HELOC, amounts above $500,000 are for primary homes only; on the HELOAN, amounts above $750,000 are for primary homes only. Figures reflect Griffin Funding’s standard home equity programs as of October 2026 and are subject to change. Actual amounts, rates, and terms depend on your credit profile, property type, income documentation, and available equity. This is not a loan offer or a guarantee of approval. For Florida condominiums, maximum borrowing on the digital fixed-rate HELOC is 70% of value.
Home Equity Options for Florida Real Estate Investors
Investors who document income can borrow up to 90% of a Florida investment property’s value through the digital variable-rate HELOC with a 720+ credit score. If you’d rather not share personal income documents at all, Griffin Funding offers DSCR versions of both products that qualify on the property’s rent instead:
DSCR HELOC: A line of credit on an investment property that qualifies when the rent covers at least 110% of the payment. Lines from $100,000 to $500,000, with credit scores starting at 720, at up to 70% of the property’s value, with no personal income documents, no cash reserves required, and no prepayment penalty.
DSCR HELOAN: A fixed-rate lump sum from $100,000 to $500,000 at up to 80% of the property’s value with a 720+ credit score (credit scores start at 680), qualifying when the rent covers the full payment. LLCs and corporations can borrow with a personal guaranty, so you don’t have to move the property out of your entity to close. The DSCR HELOAN comes with or without a prepayment penalty: penalty options step down over one to five years and typically carry better pricing, and no-penalty options are available if you plan to pay off or refinance early.
A cash-out refinance is another way to access home equity, particularly if you also want to replace your current mortgage. Unlike a second-lien HELOC or home equity loan, a cash-out refinance replaces your existing mortgage with a new, larger loan and pays the difference to you in cash. Because it changes your mortgage rate, term, and balance, it is important to compare the new loan with the terms of your current mortgage.
Griffin Funding offers cash-out refinancing to eligible Florida homeowners. For buyers purchasing a home, a piggyback loan combines a primary mortgage with a second loan that closes at the same time. Depending on the structure, this approach helps you avoid private mortgage insurance or keep the first mortgage within conforming loan limits. Piggyback financing involves two loans, two monthly payments, and additional closing costs.
How Much Can You Borrow With HELOCs and HELOANs in Florida?
Home equity is the difference between your home’s current value and the amount you still owe on it. A HELOC or home equity loan allows you to tap into a portion of that equity.
Your borrowing limit depends on factors such as the program, credit score, and property type. Griffin Funding’s traditional HELOC allows up to 90% combined loan-to-value (CLTV) on primary residences, 85% on second homes, and 75% on investment properties. With a credit score of 720 or higher, the digital variable-rate HELOC allows up to 90% CLTV across all three property types.
Consider a Florida home valued at $375,000 with a $190,000 balance: at 90% CLTV total debt can reach $337,500, leaving $147,500 available; at 70%, $262,500, leaving $72,500.
If you own your Florida home free and clear, there’s no existing mortgage balance to subtract. A first-lien HELOC takes the primary lien position and works as a revolving line of credit. It can also be used to pay off an existing mortgage, so compare the new rate and terms with your current mortgage before making the switch.
How much equity can you actually access in Florida’s housing markets? The table below shows the typical home value and the estimated cash available at 70%, 80%, and 90% combined loan-to-value (CLTV). Figures assume an existing mortgage balance of 50% of current home value, so your actual accessible equity may differ.
You may qualify for more than shown. These figures assume a mortgage balance equal to 50% of your home’s value. If you owe less, your accessible equity is higher. A Miami homeowner with a $476,815 home who owes $170,000 could access about $259,000 at 90% CLTV, well above any program minimum.
2026 HELOC and HELOAN Rates in Florida
Griffin Funding’s home equity rates vary based on factors such as your credit score, combined loan-to-value ratio, property type, loan amount, and selected program. Variable-rate HELOCs are typically based on the Wall Street Journal Prime Rate plus a lender margin, which means the interest rate can change over time. For more predictable payments, a fixed-rate HELOC or home equity loan locks in a fixed interest rate. Available rates and terms can change and depend on your individual qualifications.
What Do You Need to Qualify for Home Equity Programs in Florida?
Qualification depends on factors that include how much equity you retain, how you document income, your credit history, your recent mortgage-payment history, your debt load, the property type, occupancy, lien position, loan amount, and valuation.
- Equity value: Your home equity program and credit score determine how much you can borrow. With a credit score of 720 or higher, the digital variable-rate HELOC lets you borrow up to 90% of your property’s value on primary residences, second homes, and investment properties (investment properties require full income documentation). Other programs have maximum borrowing limits ranging from 70% to 90%. Learn more about home equity loan limits and how much equity you can borrow.
- Stable income: Griffin Funding offers income verification options based on how you earn. W-2 employees and retirees can verify income online, while self-employed borrowers can use 12 to 24 months (HELOC) or 12 months (HELOAN) of bank statements instead of tax returns. Real estate investors can qualify using the property’s rental income instead of personal income documentation with a DSCR home equity loan.
- Minimum credit: Griffin Funding offers home equity options for credit scores starting at 600, with higher minimums for other programs. Traditional HELOCs and home equity loans with Griffin Funding require a minimum credit score of 660.
- Payment history: A demonstrated history of consistent, on-time mortgage payments over the last 12 months.
- Debt-to-income ratio: Griffin Funding allows debt-to-income ratios of up to 50%. Your DTI, credit score, available equity, and property type can all influence how much you’re able to borrow. Learn more about the factors that determine your home equity borrowing limit.
Florida-Specific Home Equity Considerations
Florida does not impose a universal state loan-to-value limit on HELOCs or home equity loans; applicable limits are established through federal and state law and lender underwriting requirements. Florida does, however, have specific rules covering homestead property, spousal consent, mortgage taxes, remote notarization, and judicial foreclosure. Here’s what to weigh before you apply.
Florida Home Equity Loans and Lines of Credit Closing Costs
How you sign depends on the program. Digital HELOCs close with online notary sessions by video, allowing some Florida borrowers to close from home. When remote closing is unavailable for the program, property, settlement provider, documents, or county recording system, a mobile notary or other closing professional handles the signing in person. Traditional HELOCs and home equity loans also require in-person signing.
Florida permits electronic and remote online notarization under Chapter 117, Part II of the Florida Statutes. Online-closing availability still depends on the lender, loan program, title or settlement provider, document eligibility, and recording requirements.
After signing, federal rescission rules generally give you three business days to cancel a qualifying consumer HELOC or home equity loan secured by your principal dwelling. The lender generally cannot disburse proceeds outside of escrow until this period expires. The cancellation right generally does not apply when the collateral is a second home or investment property or when the credit is exempt as business-purpose credit. Learn more from the Consumer Financial Protection Bureau.
On cost, Florida borrowers should check for recording, title, appraisal or valuation, settlement, notary, and lender fees. Florida also imposes documentary stamp tax on promissory notes and recorded mortgages or liens. Mortgages and liens securing Florida real property are generally taxed at $0.35 per $100, or portion thereof, of secured debt. Florida also imposes a nonrecurring intangible tax of 0.2% on obligations secured by Florida real property. The lender is liable for the intangible tax but passes that cost to the borrower. Review the Florida Department of Revenue’s guidance on documentary stamp tax and nonrecurring intangible tax.
Read our guide for a full breakdown of HELOC closing costs.
Florida Foreclosure Process
Florida is a judicial foreclosure state. State law provides that mortgages must be foreclosed through an action in equity, meaning a mortgage lender must file a court case rather than proceed through a nonjudicial trustee’s sale under Florida Statutes § 702.01. The timeline varies based on the court, facts of the case, and whether the foreclosure is contested. Under Florida Statutes § 45.0315, the borrower’s right of redemption generally lasts until the later of the filing of the certificate of sale or the time specified in the foreclosure judgment. Otherwise, there is no right of redemption.
Florida Property Tax Reassessment
Taking out a HELOC or home equity loan generally does not trigger a Florida property-tax reassessment because the financing places a lien on the property without transferring ownership. County property appraisers determine property values annually, and a qualifying change of ownership or control can cause protected assessed value to reset to just value.
An eligible permanent residence can receive the Florida homestead property-tax exemption, which can reduce its taxable value. The exemption also qualifies the property for the Save Our Homes assessment limitation. Under that limitation, annual increases in the assessed value of a homestead are generally capped at 3% or the percentage change in the Consumer Price Index, whichever is lower. Borrowers should confirm the treatment of any title changes made during closing with their county property appraiser.
Florida’s constitutional homestead protection is different from the property-tax exemption. It protects a qualifying primary residence from forced sale by many judgment creditors, subject to important constitutional exceptions. It does not prevent a lender from enforcing a valid mortgage voluntarily placed on the property. The protection and its exceptions are established in Article X, Section 4 of the Florida Constitution.
Florida Rules on Spousal Consent for Home Equity Financing Programs
Florida is not a community-property state. Instead, marital assets and liabilities are generally addressed under the state’s equitable-distribution laws.
However, Article X, Section 4(c) of the Florida Constitution requires a married owner’s spouse to join in a mortgage of the owner’s Florida homestead. As a result, a nonborrowing spouse generally must sign the mortgage or related homestead documents even if that spouse is not on the note or title. If the property is not the owner’s Florida homestead, the signing requirements differ. The lender and title provider will review ownership, occupancy, marital status, vesting, and applicable program requirements before closing.
Apply for a Home Equity Loan or HELOC in Florida
Griffin Funding lends throughout Florida, from Miami, Fort Lauderdale, and West Palm Beach to Orlando, Tampa, Jacksonville, and the Gulf Coast. Whether you want to use your equity to renovate, invest, consolidate debt, or build a financial cushion, a home equity loan or second-lien HELOC can help you access funds without changing your existing first mortgage. Eligible borrowers can begin with a soft credit pull to explore available options without affecting their credit score.
Reach out to a Florida loan officer to compare programs, or get started online today.
Reach out to a Florida loan officer to compare programs, or get started online today.
- Meagan Scheiwe, Griffin Funding Florida Loan Officer | NMLS# 1799239
- Denise Tran, Griffin Funding Florida Loan Officer | NMLS# 2652352
- Malcolm Cameron, Griffin Funding Florida Loan Officer | NMLS# 1460681
- Nikolas Contreras, Griffin Funding Florida Loan Officer | NMLS# 2259013
Griffin Funding Home Equity Financing: Where We Lend
Open the list below for local home equity guidelines, draw and repayment terms, and rate guidance from a loan officer licensed in your market.
Not sure if we lend in your state? Request a quick quote and a licensed loan officer will confirm home equity availability in your area.
Frequently Asked Questions
How much does a HELOC or HELOAN cost to close in Florida, and can I close it early without a penalty? 
Yes. Griffin Funding does not charge a prepayment penalty on home equity programs that use your personal income for qualification. HELOCs and HELOANs have closing costs that cover appraisal or valuation, title services, lender charges, and other closing expenses. HELOC closing costs range from $500 to $5,000, or 2% to 5% of the credit line. HELOAN closing costs fall within a similar range because they involve many of the same underwriting and closing services.
In Florida, recording fees and mortgage taxes add to total closing costs. Florida imposes documentary stamp tax on mortgages and other obligations secured by Florida real property at $0.35 per $100 of indebtedness. The state also imposes a nonrecurring intangible tax of 0.2% on obligations secured by a mortgage or other lien on Florida real property.
No-closing-cost HELOCs eliminate upfront costs by shifting those expenses elsewhere, such as through a higher interest rate or an early-closure fee. Review your loan disclosures for the costs and terms of your loan. Get the full picture in our guide to HELOC closing costs.
Can I get a HELOC or HELOAN on an investment property or second home in Florida?
Yes. Griffin Funding offers home equity programs for qualifying primary residences, second homes, and investment properties in Florida. Limits vary by product. Under Griffin Funding’s published digital variable-rate HELOC guidelines, borrowers with a credit score of 720 or higher can access up to 90% combined loan-to-value (CLTV) on all three property types, with full income documentation required for investment properties.
Real estate investors can also qualify for a DSCR home equity loan using the property’s rental income rather than personal employment income. Published DSCR HELOAN guidelines include loan amounts from $100,000 to $500,000, credit scores starting at 680, a DSCR of at least 1.0, and a maximum CLTV of up to 80%, depending on credit score and other qualifications.
What credit score do I need for a HELOC in Florida?
600. Griffin Funding’s digital HELOC programs are available with credit scores starting at 600, while traditional HELOCs and home equity loans generally start at 660. Minimum requirements vary by lender and program, and a higher credit score can give you access to higher borrowing limits.
Borrowers with a credit score of 720 or higher can access up to 90% of their home’s value. Maximum borrowing limits decrease at lower credit score ranges.
Exploring your options won’t affect your credit score. Griffin Funding begins with a soft credit pull, and a hard inquiry only occurs after you accept an offer.
Can I cancel my HELOC or home equity loan after closing in Florida?
Yes. For a HELOC or HELOAN secured by your primary residence in Florida, federal law provides a three-business-day right of rescission after closing and receipt of the required disclosures. You can cancel the transaction during this period without penalty.
The right of rescission does not apply to second homes or investment properties that are not your principal residence. If the lender fails to provide the required disclosures, the rescission period can extend. In a bona fide personal financial emergency, you can waive the three-business-day waiting period by providing the lender with a dated written statement describing the emergency, signed by everyone entitled to rescind.
Can I qualify for home equity financing if I’m self-employed?
Yes. Griffin Funding allows eligible borrowers to use 12 to 24 months (HELOC) or 12 months (HELOAN) of bank statements instead of traditional income documents such as W-2s, tax returns, or pay stubs. This option can help self-employed borrowers, freelancers, and small-business owners qualify based on bank statement deposits rather than taxable income.
Bank statement documentation is available for HELOCs on primary residences, second homes, and investment properties. For HELOANs, eligible borrowers can qualify for up to $1 million on a primary residence and up to $750,000 on a second home or investment property.
Learn more about available programs in our home equity loans and lines of credit guide.
Can I get a HELOC or HELOAN after bankruptcy?
Yes, after a four-year waiting period. Griffin Funding’s home equity programs in Florida require four years from the bankruptcy discharge or dismissal date. Once the four-year period has passed, Griffin Funding may consider your HELOC or HELOAN application as long as you’ve maintained a positive credit history, made your mortgage payments on time, and meet the program’s underwriting requirements.
If you’re still within the four-year waiting period, Griffin Funding offers recent credit event loans for borrowers recovering from bankruptcy, foreclosure, or another major credit event. These mortgage programs have different eligibility requirements and loan structures than traditional HELOCs and HELOANs, providing an alternative financing option before the four-year period ends.
Can I get a HELOC or home equity loan on a Florida investment property owned by an LLC?
Yes. Griffin Funding offers DSCR home equity loans for Florida investment properties titled in an LLC or corporation, allowing the property to remain in the entity’s name. Qualification is based primarily on the property’s rental income and debt-service coverage rather than personal employment income, eliminating the need for personal tax returns, W-2s, pay stubs, or personal debt-to-income calculations.
The fixed-rate DSCR home equity loan provides $100,000 to $500,000 as a lump sum, requires a minimum credit score of 680 and a DSCR of at least 1.0, and allows up to 80% combined loan-to-value (CLTV) for borrowers with credit scores of 720 or higher.
Griffin Funding also offers a DSCR HELOC for LLC-owned investment properties. This revolving credit line has separate credit score, DSCR, CLTV, and prepayment requirements. Entity, ownership, guaranty, title, and underwriting requirements apply to both programs.
Transferring a property out of an LLC or corporation to obtain financing can affect its title, insurance, taxes, liability protection, existing mortgage, and operating agreement. Confirm the financing structure with Griffin Funding, your title provider, insurer, and legal or tax adviser before changing ownership.