Home Equity Line of Credit (#HELOC)
Stated Income-Verified Assets (SIVA)
Owner-Occupied, Non-Owner Occupied and Second Homes, SFR's, 2-4's and Condos.
600+ FICO needed. Over 700 FICO, first 6 months starting at 3.88%.
Loan amounts from $150,000 - $5,500,000.
Up to 70% LTV to $1,000,000 loans outstanding (including new HELOC)
Up to 70% LTV to $1,000,000 loans outstanding (including new HELOC)
Up to 50% LTV to $5,500,000.
Starting at .5 floating over WSJ Prime in 1st position.
Starting at .5 floating over WSJ Prime in 1st position.
1.5 floating over WSJ Prime in 2nd position or paying off liens.
10 year draw period, 20 year amortization.
Lower your rate by up to .50%**
3 monthly repayment options available interest only, .5% or 1.5% of outstanding
Must provide proof of at least 6 months of PITIA reserves with a CPA Letter.
No CPA Letter needed with 18+ months reserves.
Available only in: CA, MA, MD, WA, IL,TX, NV, NJ and NY.
Fees: 2.5 points + $995 processing at the Close of Escrow.*
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