HELOCs offer 1st, 2nd, and 3rd lien eligibility.

Available for primary, second home, and investment properties

Terms include 30, 15, 10, and 5-year fully amortized options

AutoPay Discounts available

Full P & I Payments

Various draw periods

85% maximum Combined Loan-to-Value (CLTV)

+620 FICO score requirement

Loan amounts from $25,000 to $400,000

50% maximum Debt-to-Income (DTI) 

Borrowers will pay a one-time origination fee of 1.99 or 2.99%. The fee is financed into the total loan amount schedule and deducted from the original approved Credit Limit when the line of credit is funded.  

• For states with an origination fee “cap” (preventing the origination fee from meeting the above boundaries), 0 Fee may present based on the states “cap”

Manual Notary Fee (if applicable) between $150 and $350  

• Depending on the location of the subject property, a manual notary fee may be used in lieu of a electronic notary.  

• Manual Notary Fee: Does not impact the APR and will be deducted from the total line of credit amount  

• Fee may apply in the following states: AK, AL, AR, AZ (only Pima Co.), CA, CT, DC, FL, GA, IL, IN, KS, LA, MA, ME, MI, MN, MO, MS, MT, NC, ND, NH, NJ, NM, OH, OK, OR, PA, RI, SD, TN, VA, UT, VT, WA, WY 

Yes, the HELOC can immediately be repaid after the initial disbursement. There are no prepayment penalties, however there are a couple things to consider:  

• The borrower may still have a regular monthly payment until any origination fee, notary fee, and accrued interest has been paid.  

• Additionally, with any future draw(s) the APR will be determined at the time of request, so the rate may differ from what's selected during the application process. Draw period can range, but is part of the terms selection process. Refer to the signed HELOC Agreement for details on the additional draw feature and how APR will be determined at the time of request.  

• With any future draw requests, a new AVM will be run and if the value of the property has declined significantly below the appraised value at origination, the right to obtain an additional draws will be suspended until the significant decline in value no longer exists.  

HELOCs are secured by:

• Single unit/single-family owner-occupied residences

• Townhouses

• Planned urban developments (PUDs)

• Condominiums (including Mid-Rise and High Rise Condos) 

Co-borrowers are not permitted.  

• Only one owner applies and signs for the line of credit, but any additional owners on the title must sign the mortgage document. 

Yes, first liens are available on a primary residence. 

Borrowers need to provide:

• Full legal name

• State-issued ID, IRS.gov or ID.me login information

• User IDs for bank accounts

• Proof of homeowner's insurance (if applicable) 

A soft credit check is run when the loan officer submits the lead.

A soft credit check is run when the borrower is reviewing offers

A hard credit check is obtained only after the borrower selects the terms and submits the application. 

Various incomes are acceptable, including:

Asset depletion

W2

Variable pay

Self-employment 

Yes, Additional Draws are available based on the original term of the loan.

• 5 Year Repayment Term = 2 Year Draw Period 

• 10 Year Repayment Term = 3 Year Draw Period 

• 15 Year Repayment Term = 4 Year Draw Period 

• 30 Year Repayment Term = 5 Year Draw Period