Overwhelmed by your options? You don't have to be. We'll help you understand the benefits of each loan program, so you can choose the one that is right for you.

Fixed Rate Mortgages

There's a reason Fixed Rate Mortgages are among the most popular loans. They are the simplest. Plus, your payment will not change over the life of your loan because your interest rate cannot change.

Conventional Loans

Best choice if:

  • You plan on staying in the home long-term.
  • You need your monthly payments to remain fixed over the life of the loan.
  • You would like to pay off the loan balance quickly.

Advantages:

  • Level principal and interest payments for the full term of the loan.
  • No risk that changing market conditions will increase your monthly payments.
  • This product will pay off the loan balance the quickest and you will save on interest charges.

Disadvantages:

  • Monthly payments are higher than longer-term options.

Best choice if:

  • You plan on staying in the home long-term.
  • You need your monthly payments to remain fixed over the life of the loan.
  • You would like to pay off the loan balance quicker.

Advantages:

  • Level principal and interest payments for the full term of the loan.
  • No risk that changing market conditions will increase your monthly payments.
  • This product will pay off the loan balance sooner and you will save on interest charges.

Disadvantages:

  • Monthly payments are higher than longer-term options.

Best choice if:

  • You plan on staying in the home long-term.
  • You need your monthly payments to remain fixed over the life of the loan.
  • You would like to pay off the loan balance quicker.

Advantages:

  • Level principal and interest payments for the full term of the loan.
  • No risk that changing market conditions will increase your monthly payments.
  • Your monthly payment will be lower than shorter-term mortgages because you are extending the term longer.
  • The loan balance will decrease more rapidly than a 30-year mortgage, and you will save on interest charges.

Disadvantages:

  • Monthly payments are higher than a 30-year mortgage.

Best choice if:

  • You plan on staying in the home long-term.
  • You need your monthly payments to remain fixed over the life of the loan.
  • You would like a lower monthly payment.

Advantages:

  • Level principal and interest payments for the full term of the loan.
  • No risk that changing market conditions will increase your monthly payments.

Disadvantages:

  • This product will take the longest to pay off the loan balance.
  • The total cost in terms of the interest paid is higher than shorter-term options.

Home Equity Loans and Lines of Credit

A Home Equity Loan or Line of Credit may be an excellent way to access the equity in your home for a variety of reasons. It may be utilized to make home improvements, consolidate high-interest debts, or finance a wedding, educational expenses, major purchases such as a boat, car, second home, or a once-in-a-lifetime vacation, and unexpected major medical expenses

Put your home’s equity to work with our 6 & Fix HELOC. Get a 6.00% fixed rate for the first 18 months and access the funds you need for home improvements, major expenses, debt consolidation, and more.

Minimum line amount: $25,000 | Minimum initial draw: $10,000


Disclosures

*6.00% Annual Percentage Rate (APR) is the initial discounted interest rate during the Introductory Period through 18 billing cycles. This offer, including the rates and terms, is subject to change or be discontinued at any time without notice. After the Introductory Period ends, all remaining balances will automatically convert to a variable APR based on Wall Street Journal Prime plus a margin. The variable rate is based on loan-to-value, term, and creditworthiness and can change quarterly on the first day of January, April, July, and October. As of October 1, 2026, the APR without the discounted interest rate is as low as 7.00% and as high as 9.00%. Draw period of 10 years with a repay term of 15 years. The minimum credit line is $25,000. The minimum initial draw is $10,000. Monthly payments are based on 1.50% of the outstanding balance. [Example: Loan amount of $100,000 x 1.5%= $1,500]

Find Out How Much You Can Afford

Ready to Apply?

 

Apply now for a better mortgage experience through Floridacentral.