The Credit Carve Out2feature offers the security of a fixed interest rate with the flexibility of a line of credit allowing you to lock in a fixed rate as a good option if you want fixed monthly payments or have concerns about rising interest rates
Carve Out Rates as Low as 4.69% APR2
Flexibility to borrow as little or as much as you need based on your lending needs
Manage unexpected expenses, consolidate debt or cover costs like tuition
Safe and easy online document sharing and electronic signature available to help expedite your loan process
24/7 Local, Florida Customer Support
Things You Need to Apply:
Driver license information
Income3 (monthly and annual)
Collateral address and approximate value
Applying for Your Home Equity Line of Credit is Simple!
Gather Your Info
We've listed out the items you'll need for your application in the "Things You Need to Apply" section above for your convenience.
Enter Your Info
Submit your information in the secure account that will be created when you click "Open Now" below. You'll have the ability to begin and save your application to return to later.
That wasn't so bad, right? A local, Florida lender will follow up with you in one business day or less on the status of your loan.
1. Home Equity Line “as low as” 4.50% : *APR=Annual Percentage Rate effective 6-26-2018, and may change based on market conditions and borrower eligibility. Variable Rate based on The Wall Street Journal Prime Rate (currently 5.00%) with a minimum APR of 4.50% and a maximum APR of 18.00%. Subject to credit approval. Your APR may be higher based on the prevailing Variable rate index value, the amount of your credit line, combined loan to value, and/or property type. The APR will be higher for credit scores under 781 and credit lines under $25,000. Minimum credit line is $10,000. Maximum credit line is $250,000. 180 month draw period followed by 0 month repayment period, at which time the balance will be due in full. Homeowner’s property insurance is required. Flood insurance may be required. Credit line together with any other mortgage(s) cannot exceed 80% of the property value on 1to4 family, owner occupied properties. Non owner occupied properties subject to different terms. Offer does not apply to existing Seacoast Bank credit lines. Seacoast may pay all or part of your closing cost with an immediate draw of $25,000. Closing costs generally total between $225 and $5,000. Cancellation Penalty In exchange for our agreement to pay all or a portion of your Closing Costs that would be otherwise payable by you, you agree that your account will remain open for at least 2 years from the date you open the Home Equity Line of Credit account. If you fail to keep this requirement, you will be required to pay an amount equal to the Third Party Closing Costs paid by Seacoast National Bank.
2. Carve out will reduce the availability under the line and as the loan is repaid the line availability is replenished automatically. APR=Annual Percentage Rate effective June 26, 2018, and may change based on market conditions and borrower eligibility. APR of 4.69% is for terms up to 36 months. The APR will be higher for credit scores under 781. Minimum Carve out of $2,500 and a maximum of 3 carve outs will be permitted at any one time.
3. Supporting documents may be required and can be gathered by a Seacoast Bank representative if needed.