If you own a home in Orlando, chances are your property value has gone up over the last few years. Central Florida’s housing market has been strong, and that means many homeowners now have a solid amount of equity built up in their homes.
One of the smartest ways to access that equity, without selling or refinancing, is through a Home Equity Line of Credit (HELOC). A HELOC gives you flexible access to cash, often with lower interest rates than credit cards or personal loans.
But not all HELOCs are created equal. Rates, fees, borrowing limits, and even the customer service experience can vary a lot from one lender to the next. And in a fast-growing city like Orlando, choosing the right lender can make a big difference in how smoothly things go.
This guide will walk you through what makes a good HELOC lender, why so many Orlando homeowners are opening lines of credit right now, and which lenders stand out from the rest in 2025.
Why More Orlando Homeowners Are Using HELOCs
Orlando has become one of the hottest housing markets in Florida, thanks to job growth, population increases, and steady demand. That’s great for homeowners, especially those who bought several years ago and have watched their home values rise.
A HELOC allows you to tap into that equity without giving up your low mortgage rate or starting over with a full refinance. It works like a credit card backed by your home. You get a line of credit you can draw from as needed, ideal for projects or expenses that come in phases.
Here’s why many people in Orlando are opening HELOCs:
- Home improvements: A new roof, kitchen update, or energy-efficient upgrades
- Debt consolidation: Pay off high-interest credit cards at a much lower rate
- Emergency fund: Set aside cash just in case, without touching your savings
- Education costs: College tuition or private school expenses
- Buying a second property: Use equity from your current home to fund the next
With home values holding strong and interest rates stabilizing, 2025 is shaping up to be a good year to explore your options. But where you get your HELOC matters, and we’re about to break down what to look for.
What to Look for in a Good HELOC Lender
Getting a HELOC sounds simple, you’re borrowing against your home equity, right? But choosing the right lender can be the difference between a smart financial move and a frustrating, expensive experience. Especially in a place like Orlando, where the housing market is competitive and full of options, the fine print matters.
Here are a few things you’ll want to pay attention to when shopping for a HELOC:
1. Interest Rates (and How They Work)
Most HELOCs come with variable interest rates, which means your rate can go up or down over time. Some lenders offer introductory rates for the first 6–12 months, which can look great upfront but jump later. A few let you lock in a fixed rate on part of your balance if you want stability.
Pro tip: Don’t just ask, “What’s the rate?” Ask: “How long does that rate last, and what happens after?”
2. Fees and Closing Costs
Some lenders charge application fees, closing costs, annual fees, or early termination fees. Others waive all of those. Always ask for a breakdown before you commit, what looks like a low-rate offer could cost more in hidden fees.
3. Draw Period and Repayment Terms
Most HELOCs give you a draw period (usually 5–10 years) where you can borrow and only pay interest. After that, you’ll enter the repayment period (often 10–20 years) where you start paying back principal and interest. Make sure the repayment plan works for your budget long-term.
4. Customer Service and Flexibility
Do you prefer to work with someone local? Do you want fast digital tools? If you’re self-employed or have complex income, will the lender take the time to understand your situation?
Some banks treat you like a number. Others, like local or independent lenders, offer a more personal touch and flexible underwriting.
5. Maximum Loan-to-Value (LTV)
This determines how much of your equity you can actually access. Some lenders cap it at 80% of your home’s value. Others may go up to 85% or 90% depending on your credit.
Best HELOC Lenders in Orlando, Florida
There’s no shortage of banks and credit unions offering home equity lines of credit in Central Florida. But if you want fair rates, low fees, and an easy process, not all lenders are equal. We’ve narrowed it down to some of the best options for Orlando homeowners, starting with a Florida-based team that’s built around helping people get the most out of their equity, not just sell a loan.
1. Select Home Loans (Top Pick for Personalized Guidance)
Select Home Loans isn’t a bank, and that’s exactly the point. Based right here in Florida, they act more like a home equity advisor than a lender. Instead of locking you into a one-size-fits-all HELOC, they help you shop across multiple lenders to find the rate, terms, and credit line that actually make sense for your goals.
They’re especially helpful if you:
- Don’t want to deal with multiple bank applications
- Have a non-traditional financial situation (like self-employment)
- Want honest, straightforward answers without the sales pitch
Why Orlando homeowners choose Select:
- One-on-one service with real, local loan advisors
- Access to multiple banks and credit unions
- Help comparing terms you may not catch on your own
- Flexible options for credit and income situations
Best for: Homeowners who want more than just a rate, they want a plan.
2. Truist (Formerly SunTrust)
With roots in the Southeast and a strong presence in Florida, Truist offers a solid HELOC product with no annual fees and flexible draw terms. Their branches are easy to find throughout the Orlando area, and many borrowers like having in-person access if questions come up.
Highlights:
- No closing costs on qualifying lines
- Up to 89.9% loan-to-value (LTV) for well-qualified borrowers
- Reliable support with local branches
Watch out for: Slower approval times than online lenders
3. TD Bank
TD Bank stands out for its Fixed-Rate Option, which lets you lock in part of your HELOC balance. That’s great if you’re using the credit line for a longer-term project or want protection from rising interest rates.
Pros:
- Flexible repayment options
- Competitive intro rates
- Strong customer satisfaction ratings
Downside: Credit score and income requirements can be a bit stricter than other banks
4. Bank of America
Bank of America is a convenient option for many Orlando residents, especially if you already bank with them. They offer relationship discounts and typically don’t charge closing costs or annual fees.
What you get:
- Streamlined digital application
- Introductory rates with potential rate discounts
- Strong mobile and online banking tools
Good fit for: Borrowers with strong credit who want a straightforward process and digital convenience
5. Space Coast Credit Union
Don’t let the name fool you, Space Coast Credit Union serves a large portion of Central Florida, including Orlando. They offer HELOCs with low rates, competitive terms, and the kind of community-first customer service that credit unions are known for.
Why locals like them:
- Member-friendly policies
- Transparent pricing
- Solid choice for everyday homeowners (not just high earners)
Note: You may need to meet certain membership or employment requirements to qualify
6. Addition Financial Credit Union
Based in Lake Mary, just north of Orlando, Addition Financial is a local credit union with a strong footprint in Central Florida. They offer fixed-rate and variable-rate HELOC options and are known for working closely with first-time borrowers.
Highlights:
- Local support and hands-on service
- Fixed and variable options
- Strong presence in the Orlando school and healthcare community
Final Thoughts: Finding the Right HELOC in Orlando
Getting a HELOC is more than just pulling equity from your home, it’s about knowing why you’re doing it, and who you’re doing it with. In a market like Orlando, where home values have climbed steadily and financial needs are shifting, a home equity line of credit can be a smart way to stay ahead, if you choose the right lender.
Big banks offer convenience, credit unions bring community-focused service, and local firms like Select Home Loans give you something even more valuable: options. They don’t just hand you one offer and hope it works. They help you understand what’s available across multiple lenders and walk you through the decision like a trusted advisor, not a salesperson.
Whether you’re planning a renovation, managing debt, or just want access to your home equity for peace of mind, now’s a great time to explore your options. But don’t rush. Compare offers, ask the hard questions, and make sure the lender you choose is just as invested in your outcome as you are.
Looking to unlock your home equity without the guesswork?
Talk to the team at Select Home Loans. They’ll help you compare rates, understand your options, and set up a HELOC that actually works for you, not just the bank.
