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Introducing our latest product, the No Hassle 5-Day HELOC
If you're in need of quick cash and have substantial home equity, this HELOC might be the perfect fit for you!
For those unfamiliar with HELOCs, it's a financial tool allowing you to borrow against your home equity. Common uses include home improvements, down payments on another property, or as a financial safety net. Read on for more details.
Apart from its swift processing, our HELOC offers several advantages:
- No property appraisal required; an automated valuation model determines property value.
- Available for primary residences, second homes, and investment properties (a rare feature).
- It can take the 1st, 2nd, or even 3rd lien position on your home (though it must be a single unit).
- It can take the 1st, 2nd, or even 3rd lien position on your home (though it must be a single unit).
The minimum FICO score is 640, and the debt-to-income ratio can't exceed 50%. The property ownership requirement is 90 days, with no recent refinancing in the last 45 days.
When ready to apply, your loan officer will send an online application link. This starts with various options based on your expected qualifications. Once chosen, you proceed to the next step by providing documentation. After uploading all necessary documents, the closing process will be coordinated.
Closing requires in-person signing with a notary. Initially, the full line amount must be drawn, but there are no prepayment penalties. Loan servicing typically takes 2-3 weeks to set up.
Post-closing, you can redraw up to 100%, with subsequent draws at the current market interest rate. These draws require fully amortized payments (principal and interest) and are available during a draw period lasting 2-5 years, depending on your chosen initial term (30, 15, 10, or 5 years).
APPLY NOW!
APPLY NOW!
