Home Improvement Loans

Home Improvement 5 Year Signature Loan

• No equity in property required.
• Documentary Tax in the amount of .35 cents per $100.00 of the limit amount as collected and paid to the State of Florida.
• Maximum loan amount $25,000.

Home Improvement 10 Year Signature Loan

• No equity in property required.
• Documentary Tax in the amount of .35 cents per $100.00 of the limit amount as collected and paid to the State of Florida.
• Maximum loan amount $25,000.

Home Improvement Secured 5 Year

• Credit Union pays up to $1,000.00 toward closing costs. If the home equity loan/line is paid in full or the credit line closed, within the first 25 months from the opening date, Suncoast will collect the closing costs paid on your behalf in the payoff. The loan term begins with the first payment due date of the loan.
• Interest paid on this product may be tax deductible. Consult a tax advisor regarding the deductibility of interest.
• No Annual or Transaction Fees.
• Maximum LTV is 133%
• Typical closing costs range from $300 to $1900.
• Costs for appraisals and title insurance range from $350 to $4,000 depending on loan to value and loan amount.
• Lower standard Home Equity and High LTV Home Equity Loan rates available for LTV's of 100% or less.
• Loans available on primary residences in Florida only with homestead.

Home Improvement Secured 10 Year

• Credit Union pays up to $1000.00 toward closing costs. If the home equity loan/line is paid in full or the credit line closed, within the first 25 months from the opening date, Suncoast will collect the closing costs paid on your behalf in the payoff. The loan term begins with the first payment due date of the loan.
• Interest paid on this product may be tax deductible. Consult a tax advisor regarding the deductibility of interest.
• No Annual or Transaction Fees.
• Loans available on primary residences in Florida only with homestead.
• Typical closing costs range from $300 to $1900.
• Costs for appraisals and title insurance range from $350 to $4,000 depending on loan to value and loan amount.
• Maximum LTV is 133%.
• Lower standard Home Equity and High LTV (80.01-100%) Home Equity Loan rates available for LTV's of 100% or less.

Home Improvement Secured 20 Year

• Credit Union pays up to $1,000.00 toward closing costs. If the home equity loan/line is paid in full or the credit line closed, within the first 25 months from the opening date, Suncoast will collect the closing costs paid on your behalf in the payoff. The loan term begins with the first payment due date of the loan.
• Interest paid on this product may be tax deductible. Consult a tax advisor regarding the deductibility of interest.
• Loans available on primary residences in Florida only with homestead.
• Annual Percentage Rate is variable and will change over time.
• Maximum interest rate is 6% above initial rate. Subject to 5.50% floor. The annual percentage rate can change quarterly on the first day of January, April, July and October. The rate cannot increase or decrease more than .5% percentage point at each adjustment.
• Maximum LTV is 133%
• Typical closing costs range from $300 to $1900. Costs for appraisals and title insurance range from $350 to $4,000 depending on loan to value and loan amount.

HELOC stands for Home Equity Line of Credit. It’s a loan that uses your home as collateral to provide a revolving line of credit, allowing you to borrow money as needed for large expenses or to consolidate higher-interest rate debt on other loans like credit cards. A HELOC often has a lower interest rate than other common types of loans.

A Home Equity Loan is an installment loan that lets you borrow money based on your home’s value, up to a certain percentage. Unlike a HELOC, you get all of the money upfront and then pay it back in fixed monthly payments, including interest, similar to an auto loan.

Yes, only primary Florida residences with homestead are eligible for our Home Equity Loans.

Closing costs range from $300 to $1,900, with Suncoast paying up to $1,000 towards closing costs. If the home equity loan/HELOC is paid in full or the credit line closed within 25 months of the opening date, Suncoast will collect the closing costs paid on your behalf in the payoff. The loan term begins on the due date of your first payment.

LTVs from 80.01% - 100% may qualify for our High LTV Home Equity product. These loans may have a higher rate than a standard Home Equity Loan.

With 5, 10, and 15-Year Home Equity Loans, your principal and interest payments stay the same for the entire loan term. Additional advances are available during the first 36 months of the loan term and can’t exceed the original mortgage amount. The minimum advance is $100.

The interest rate and monthly payments for an adjustable rate loan can go up or down by no more than .50% at a time after the loan is finalized. The rate is reviewed quarterly and is subject to change on the first days of January, April, July, and October based on the Wall Street Journal Prime Rate. The highest rate allowed is 18% and the lowest is 5.50%.