Florida homeowners can access up to 90% of their home equity without touching their mortgage rate. The Clear2 HELOC through Figure is 100% online, with approvals in as few as 5 minutes and funding in as few as 5 days.
The Clear2 HELOC is powered by Figure, one of the largest home equity lenders in the country. The process is 100% online, there is no paperwork to gather, and you can have funds in as few as 5 days from application. Online notary signing is available in Florida, so you never have to come into an office — though both spouses must sign if the property is a Florida homestead.
Answer a few questions and link your accounts. No paperwork, no documents to dig up. A soft credit pull shows your rate in as few as 5 minutes without affecting your credit score.
If you move forward, a hard credit pull is required to finalize the application. A property condition report — not a full appraisal — is used to confirm your home's value. The entire process is online, including notary signing in Florida. Both spouses must sign if the property carries a Florida homestead exemption.
Your full approved amount is funded at closing at a fixed rate. As you pay down the balance, you can redraw those funds again — giving you ongoing access to your equity without a new application. Additional draws carry a variable rate tied to Prime at the time of the draw.
The right product depends on whether you want to keep your first mortgage rate, how fast you need funds, and how much flexibility you want after closing.
The Clear2 HELOC through Figure has straightforward eligibility. No income documents to gather — you link your financial accounts during the application.
Your initial draw rate is fixed at approval based on your credit score, home equity, and line amount. It does not move with the market after you close. If you use the redraw feature later, those additional draws are variable and priced at Prime Rate plus a margin at the time of the draw.
Your exact rate is shown during the online application after a soft credit pull. Rates vary by state, CLTV, and line amount. Rates are subject to change without notice. Additional draws after your initial funding carry a variable rate tied to Prime Rate at the time of the draw.
The full line amount is funded at close, so you have access to your equity immediately. Here are the most common reasons homeowners use it.
Consolidating high-interest credit card or personal loan debt into a fixed-rate HELOC at a lower rate can save thousands per year in interest. One payment replaces several, and your rate is fixed so the math stays predictable. Your home secures the loan, so calculate carefully before proceeding.
Hurricane hardening, a new roof, pool work, or kitchen updates — with the full line available at close, you pay contractors without waiting for draw approvals. As you pay down the balance, the redraw feature lets you access remaining equity for future phases of the project.
Solar installations average $20,000–$35,000. An accessory dwelling unit can run significantly more. Both can increase property value while the HELOC funds the work. The fixed rate keeps monthly costs predictable from day one.
Opening a HELOC on your current home before listing it gives you a down payment source for your next purchase without waiting for the sale to close. With funding in as few as 5 days, you can move fast when you find the right property. Pay off the HELOC when your current home sells.
Clear2 Mortgage holds a license in Florida and offers HELOC products to homeowners across the state. We are also licensed in 21 additional states. Your loan officer will confirm eligibility for your specific location and property type.
Questions about coverage in your part of Florida? Contact a Clear2 loan officer and we will confirm eligibility for your location before you start an application.
Five-star reviews from Clear2 clients on Google.
"We used a HELOC through Clear2 to fund our home renovation. The process was straightforward and our loan officer kept us informed every step of the way. The draw period structure worked perfectly for paying contractors as work was completed."
"I wanted to consolidate some credit card debt without touching my mortgage rate. Clear2 found me a HELOC at a rate that cut my monthly interest payments nearly in half. The approval was faster than I expected and there was no application fee."
"Clear2 made the HELOC process easy to understand. My loan officer walked me through the rate structure and repayment timeline before I ever signed anything. I felt confident I was making the right call for my family's finances."
Can Florida homeowners get a HELOC?
Yes. Clear2 Mortgage is licensed in Florida and offers HELOCs through Figure, one of the largest home equity lenders in the country. Florida homeowners with a 620+ credit score, sufficient equity, and a qualifying property type — primary residence, second home, or investment property — can apply online today.
Does Florida's homestead exemption affect a HELOC?
Florida's homestead exemption provides property tax savings and strong creditor protections — it does not prevent you from voluntarily taking out a HELOC. However, Florida law requires that both spouses sign the mortgage documents when a homestead property is used as collateral, even if only one spouse is on the title. Both signatures are required at closing. Your homestead classification is not affected by opening a HELOC.
What is the maximum HELOC amount I can get?
The maximum depends on your home's value, your mortgage balance, and the lender's CLTV limit. Clear2 offers HELOCs up to 90% CLTV. If your Florida home is worth $410,000 and you owe $220,000, you could qualify for up to a $149,000 credit line ($410,000 × 90% = $369,000 minus $220,000). Line sizes go from $25,000 to $500,000 depending on equity and credit profile.
Is HELOC interest tax deductible?
HELOC interest may be deductible if the funds are used to buy, build, or substantially improve the home securing the line. Under the Tax Cuts and Jobs Act of 2017, interest on home equity debt used for other purposes is not deductible. Consult a tax advisor for guidance specific to your situation.
How long does it take to get a HELOC approved in Florida?
Most HELOC approvals take 2 to 4 weeks from application to funding. The Clear2 HELOC through Figure is designed to fund in as few as 5 days for qualified borrowers with accounts linked at application. Online notary signing is available in Florida, so no in-person closing is required. Both spouses must sign for homestead properties.
Can I get a HELOC on a rental property or investment property in Florida?
Most HELOC programs are limited to primary residences and second homes. Investment property HELOCs exist but come with stricter terms, lower CLTV limits (typically 70–75%), higher margins, and stronger credit requirements. Ask your Clear2 loan officer about current lender availability for investment property equity lines in Florida.
What is the difference between a HELOC and a home equity loan?
A HELOC is a revolving credit line — you draw what you need, pay interest only on what you use, and can reuse the line during the draw period. A home equity loan is a fixed-rate lump sum disbursed at closing, like a second mortgage with a set payment schedule. HELOCs suit ongoing expenses or projects with uncertain costs. Home equity loans suit single large expenses with a defined amount.
Does getting a HELOC hurt your credit score?
Applying for a HELOC triggers a hard credit inquiry, which typically reduces your score by 5 to 10 points temporarily. Once the HELOC is open, your score may improve over time if you keep the utilization low relative to the credit limit. The impact is similar to opening any other revolving credit account and usually resolves within 12 months.
No application fee. Check your eligibility in minutes, then decide if a HELOC fits your plan.
Clear2 Mortgage, LLC. NMLS #1911663. Licensed Mortgage Broker. 2600 W Big Beaver Rd, Suite 100, Troy, MI 48084. Equal Housing Lender. This is not a commitment to lend. All loans subject to credit approval, appraisal, and underwriting guidelines. HELOCs are variable rate products and rates are subject to change. Your home is collateral. Rates and terms subject to change without notice. Licensed in Florida.
