Home Equity Line Offer


Unlock the value in your home with a Home Equity Line of Credit from First Florida Integrity Bank. The money can be used for just about anything- including home improvements, new vehicles, tuition payments, vacations, medical expenses and more!

Take advantage of our promotional rate of 2.99% APR (Annual Percentage Rate) for 12 months. Thereafter, rate will be based on Wall Street Journal Prime plus 50 basis points, which is currently 5.25% APR, with a floor of 4.00% APR, and a maximum rate of 18% APR. APR and minimum payment can change due to variable rate feature.

Interest only during 10-year draw period. 15-year repayment period of principal and interest. First or second lien position available. Loan-to-value no greater than 80% if First Florida Integrity Bank holds first mortgage. LTV no greater than 70% on second lien position if first mortgage is with another financial institution. Primary and Secondary/Vacation homes acceptable.

Closing cost fees may range from $500 to $30,000. Title insurance required on any loan greater than $150,000. Property insurance and flood insurance required as applicable. Offer subject to credit approval. Consult a tax advisor regarding the deductibility of interest. Bank will pay closing costs up to a maximum of $3,000.

Maximum line of credit available under this product is three million dollars. This product contains a fixed-rate conversion option. You have the ability to select one of two fixed rate options as follows: 1) 3 year fixed rate term option based at a rate of the highest prime rate in the Wall Street Journal that is in effect at the date of conversion, plus a margin of 75 basis points, currently 5.50% APR. Or, 2) 5 year fixed rate term option based at a rate of the highest prime rate in the Wall Street Journal that is in effect at the date of conversion, plus 100 basis points, currently 5.75% APR. The entire line of credit will be at a fixed rate, even if you only have a partial balance.

Once the fixed-rate option you choose expires, your rate will revert back to the originally documented terms of Wall Street Journal Prime plus 50 basis points. There is a $250 fee to convert your existing variable rate home equity line of credit to a fixed rate. Product offered for a limited time only.

Contact us for terms and conditions on lines of credit greater than three million dollars. *Closing cost credit is for initial home equity line of credit only and does not apply to increases, modifications, or change in terms on an existing home equity line of credit. If the line of credit is closed within the first three years from the date the line of credit is opened, borrower will be responsible for reimbursing the lender for any closing costs paid by the lender. Promotional rate and fixed rates subject to change.

Effective March 26, 2018

Contact our consumer lending team for additional information today!

Bill Reitz

MLS#982011
(239) 325-3744
billreitz@ffibank.com

Mary M. Harper

NMLS# 1065809
(239) 325-3760
maryharper@ffibank.com

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