Finibi Mortgage home equity products advertised on this website are available in: FLORIDA.

Equal Housing Opportunity.

Real estate securing the loan must be located in the state of Florida for the programs advertised on this page.

Finibi Mortgage is a mortgage broker and may partner with third-party wholesale lenders to offer HELOCs and Home Equity Loans. Program availability, underwriting guidelines, rates, terms, loan amounts, fees and conditions vary by lender and borrower qualification.

1. Product description. Finibi Mortgage offers access to qualifying Home Equity Lines of Credit (“HELOCs”) and closed-end Home Equity Loans through third-party lenders. A HELOC is generally an open-end revolving line of credit secured by your home. A Home Equity Loan is generally a closed-end second mortgage that provides a lump-sum loan with a fixed rate and term, depending on the selected program.
2. Debt consolidation. Home equity loan proceeds may be used to consolidate eligible credit card balances and other debts, subject to lender and program requirements. Consolidating unsecured debt into a HELOC or Home Equity Loan converts that debt into debt secured by your home. Debt consolidation does not eliminate debt and may not reduce your total borrowing cost depending on the interest rate, loan term, fees and repayment behavior.
3. Combined loan-to-value. Qualified borrowers may be eligible for financing up to 90% combined loan-to-value (CLTV) on certain programs. CLTV includes the outstanding balance of your existing mortgage and the new HELOC or Home Equity Loan secured by the property. Maximum CLTV depends on credit profile, occupancy, property type, loan amount, automated underwriting findings and other lender requirements.
4. Debt-to-income ratio. Certain qualifying home equity programs may permit debt-to-income ratios of up to 50%. Maximum allowable DTI depends on the borrower’s credit profile, verified income, monthly obligations, property, loan amount, automated underwriting findings and other applicable program requirements. Approval at a 50% DTI is not guaranteed.
5. Income documentation. The home equity programs described on this page generally require income and employment documentation sufficient to satisfy lender underwriting requirements. Documentation may include W-2s, pay stubs, tax returns, bank statements, asset documentation or other information depending on the borrower’s income type and the selected loan program.
6. Loan amounts. Certain qualifying Home Equity Loan programs may offer loan amounts from approximately $20,000 up to $500,000. Available loan amounts depend on property value, existing mortgage balance, combined loan-to-value, credit profile, income, debt-to-income ratio, occupancy, property type and lender underwriting requirements.
7. Property eligibility. Certain programs may be available for qualifying primary residences, second homes and investment properties. Property and occupancy eligibility varies by lender, loan product, loan amount and underwriting requirements.
8. Property valuation. Property value may be determined through an automated valuation model (AVM), exterior-only appraisal, full appraisal or another valuation method permitted by the lender. A full appraisal may be required depending on the loan amount, property, valuation results and lender guidelines.
9. Approval / timing. Any reference to pre-qualification, eligibility or fast processing is not a commitment to lend. Final approval is subject to verification of borrower information, credit, income, assets when applicable, property eligibility, automated underwriting findings, title review, valuation, lien position and all other lender requirements. Closing and funding timelines vary by borrower, property, lender, title requirements and other third-party conditions.
10. Credit inquiry. An initial eligibility review may involve a soft credit inquiry depending on the lender and application process. A full mortgage application may require a hard credit inquiry, which may affect your credit score. Any required credit authorization will be disclosed as part of the application process.
11. Collateral. HELOCs and Home Equity Loans are secured by your home. Failure to meet the repayment obligations of a home-equity loan may result in foreclosure and loss of the property. Credit cards and many personal loans are generally unsecured, while home equity financing places a lien on your home.
12. Rates, APRs and fees. Interest rates, annual percentage rates (APRs), lender pricing, broker compensation, closing costs and third-party fees vary based on market conditions and borrower qualification. Factors may include credit score, combined loan-to-value, debt-to-income ratio, occupancy, loan amount, property type and loan term. Rates and pricing may change without notice and your exact rate and APR will be provided through applicable loan disclosures. Borrowers may also be responsible for applicable appraisal, valuation, title, settlement, recording, insurance and other third-party charges.
13. HELOC rates. HELOCs may have variable interest rates based on an index plus a margin. If the applicable index changes, the interest rate and required monthly payment may increase or decrease subject to the terms, floors and caps of the loan agreement.
14. Home Equity Loan rates. Certain Home Equity Loans may provide a fixed interest rate and fixed term. The borrower receives loan proceeds according to the applicable closing terms and repays the loan according to the scheduled payment requirements established in the loan documents.
15. Existing first mortgage. A standalone HELOC or Home Equity Loan may allow a borrower to keep an existing first mortgage while obtaining separate home-equity financing secured by the same property. Eligibility is subject to acceptable lien position, CLTV and lender underwriting requirements.
16. Tax considerations. Finibi Mortgage does not provide tax advice. Borrowers should consult a qualified tax professional regarding whether interest or other costs associated with a HELOC or Home Equity Loan are deductible.
17. No guarantee of savings. Using home equity to consolidate credit card balances does not guarantee a lower monthly payment, lower interest rate, lower total interest expense or financial savings. Extending repayment over a longer loan term may increase the total amount of interest paid even if the interest rate is lower than existing credit card rates.

Home equity products advertised on this page are available in: Florida. All loans are subject to borrower approval, lender underwriting guidelines and applicable state and federal requirements.