Home Equity Line of Credit (HELOC)

HELOCs up to 89.99% CLTV

• Income Documentation: Income, Asset Employment Verified

• Qualifying HELOC payment: Assuming fully drawn and amortizing at start rate plus 2.00% over 30-year term

• Minimum FICO Score 680+: based on the Primary Wage Earner’s Middle Score from the Tri-Merge Credit Bureau

• Foreclosure, Deed in Lieu, Short Sale, Bankruptcy: Standard agency guidelines apply 4 year wait period

• Loan amounts: Primary $500,000 / Second Home $250,000 

Title - We will utilize first mortgage title work on HELOC up to $250,000. Separate title work will be obtained for HELOCs exceeding $250,000

Appraisal -

We will utilize first mortgage appraisal provided it’s approved by a third-party review.  Maximum age of appraisal: 150 days at loan signing

Annual loan Maintenance fee - $99

Lender Origination Fee: $500 

Lender Application Fee: $250 

On-line application.