Finibi Mortgage home equity products are available in: FLORIDA.

Equal Housing Opportunity.

This site is specific to Florida homeowners and properties located in the state of Florida.

Finibi Mortgage is a mortgage broker and may partner with third-party lenders to offer home equity products. Program availability, eligibility, terms, rates, fees, and conditions vary by lender and borrower qualification.

1. Product description. The advertised high-limit Home Equity Line of Credit (“HELOC”) is an open-end credit product secured by the borrower’s home. Eligible Florida homeowners may qualify for HELOC amounts from $500,000 up to $1,000,000. Depending on the selected lender and program, the initial amount may be drawn at closing, and additional draws may be available during the draw period as the balance is repaid. Rates and terms for additional draws may differ from those applicable to the initial draw.
2. No-doc and bank-statement options. “No Docs HELOC” and “no documents required to start” refer to an initial pre-qualification process that may not require tax returns, W-2 forms, or documents at the time the borrower begins. These terms do not mean that no verification or documentation will ever be required. Lenders may require bank statements, proof of identity, property information, insurance, title documentation, income or asset verification, business documentation, and other information before final approval or funding.
3. Approval and closing time. Checking eligibility or receiving an initial decision is not final loan approval. Eligible HELOC requests up to $750,000 may close in an average of 3–7 business days. This is an estimated average and is not guaranteed. Closing and funding times depend on successful verification, underwriting, title review, property eligibility, lien position, insurance, valuation, closing method, and applicable rescission periods. Requests above $750,000 require a full appraisal and additional processing time and may take longer to close.
4. Credit inquiry. Checking your rate or completing an initial pre-qualification may involve a soft credit inquiry that does not affect your credit score. If you proceed with a full application, the lender may require a hard credit inquiry, which may affect your credit score.
5. Collateral and risk. A HELOC is secured by your home. Failure to meet the repayment obligations could result in the loss of your home. A HELOC does not replace or refinance an existing first mortgage unless specifically required by the selected loan structure.
6. Loan amounts and CLTV. The high-limit HELOC amounts advertised on this site range from $500,000 to a maximum of $1,000,000, subject to lender limits, property value, available equity, lien position, occupancy, credit profile, combined loan-to-value ratio (“CLTV”), and income, bank-statement, or asset verification when applicable. Qualified borrowers may be eligible for financing up to 90% CLTV; not all borrowers, properties, occupancy types, or loan amounts qualify for the maximum CLTV.
7. Property valuation and appraisal. For eligible HELOC requests up to $750,000, the lender may use an automated valuation model (“AVM”) or another approved valuation method instead of an in-person appraisal. An AVM or appraisal waiver is not guaranteed. HELOC requests above $750,000 and up to $1,000,000 require a full appraisal. The lender may require a full appraisal at any loan amount based on the property, available valuation data, loan characteristics, or underwriting requirements.
8. Rates, APRs, and fees. Available APRs may range from 7% to 18%, depending on the borrower’s credit profile, CLTV, occupancy, loan amount, lien position, loan term, market conditions, and selected lender program. Rates may change frequently, and the borrower’s exact APR will depend on the rate and program available when the application is completed and locked, if applicable. Borrowers may be responsible for an origination fee of up to 4% of the initial draw where permitted, along with third-party costs such as an AVM, full appraisal, title services, notary services, recording fees, Florida documentary stamp taxes, Florida intangible taxes, and other applicable closing costs. Property insurance is required, and flood insurance may be required.
9. Tax information. Finibi Mortgage does not provide tax advice. Borrowers should consult a qualified tax advisor regarding the deductibility of HELOC interest, fees, and other charges.
10. Variable-rate programs. For variable-rate HELOCs, the APR is generally based on an index plus a margin. Changes in the index may cause the APR and monthly payment to increase or decrease after account opening, subject to any applicable rate floor and rate cap. If the program permits additional draws, the rate on a future draw may be established at the time of that draw and may differ from the rate applicable to the initial draw.
11. No commitment to lend. The information on this website is for advertising and informational purposes only and does not constitute a commitment to lend, an approval, or a guarantee of any interest rate, loan amount, appraisal method, closing time, or program. All applications are subject to lender underwriting, verification, property eligibility, and final approval.

This product is available in: Florida.