Veronica G
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Recent activity by Veronica G-
HELOC Payments Explained
PaymentsYears 1-5During the first 5 years, the HELOC payment is interest-only. This means the monthly payment covers only the accrued interest, not the principal balance. Calculation: (Interest ra...
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Spanish Speaking Notary
When you begin your closing, you will see a message below the "JOIN NOW" button that states:"Comunicate con un notario hispanohablante"By using this button, a Spanish-speaking notary will join the ...
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Is there a Mobile App?
There is no HELOC mobile app.Our website is mobile responsive which means it fits nicely into the size of a mobile phone screen. The application can be completed start to finish on any mobile device.
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Minimum Property Value
The borrower's home must be worth $100,000+ to qualify for a loan.
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Credit Report Dispute Information
For issues with your credit report including managing credit freeze/lock, reporting fraud, removing/adding fraud alerts, identify verification, remove blocks from bureau file preventing lenders fro...
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Vesting in a LLC
A HELOC cannot close vested in a LLC.The Property Deed needs to be out of the LLC and in the borrower's name before we start the application and when we fund the HELOC. The system will NOT draw up ...
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Use of Funds
Home equity lines of credit can be used for home improvement, to buy a car, pay for college tuition, to make major purchases including other real estate, or debt consolidation.
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HELOC Product Description
The HELOC is a standalone product. It requires a minimum 75% draw at closing and has no prepayment penalties:Available in all 50 states and DC• Minimum Loan Amount $25,000*• Maximum Loan Amount $75...
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Out of Pocket Expenses
Generally, there are no out-of-pocket expenses if the loan amount is under $500,000 and no full appraisal is required.All fees and closing costs are netted against loan proceeds at settlement. This...
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Expiration Dates
AVM Valuation - 30 daysHard Equifax FICO8 credit pull - 90 daysIf any of these pass the expiration date, they will be rerun and may cause updates to the HELOC offers (HELOC loan amount, CLTV, etc).