NO Income - Verified Assets - Home Equity Line of Credit (HELOC)

By
Mortgage and Lending with RT Capital Advisors, Inc. CEO
NO Income - Verified Assets
Home Equity Line of Credit (HELOC) 
 
Owner-Occupied, Non-Owner Occupied and Second Homes - SFR's, 2-4's and Condos.
620+ FICO needed. 
 
  • Loan amounts from $150,000 - $1,500,000. 
    Up to 60% LTV to $1,000,000, up to 80% CLTV with Underwriters exception. 
  • 50% LTV to $1,500,000.

4.5% interest only start rate for the 10 year draw period, then 20 year amortization and 1 floating 
over WSJ Prime in 1st position or on free and clear properties
or 
5.5% interest only for the 10 year draw , then 20 year amortization and 2 floating over WSJ Prime in 2nd position. 
18% lifetime cap.
 
Must provide proof of 20 months of liquid PITIA reserves.
 
Available in the following California counties: Alameda, San Francisco, Santa Clara, Sacramento, San Mateo, Orange, LA and San Diego. 
And in New York (except Nassau and Suffolk counties), Nevada (Clark County only), MA, WA and GA.
 
 
HELOC:
Last 2 months Bank/Asset statements showing at least 20 months of liquid PITIA reserves. No bankruptcies, mortgage lates, foreclosures, short sales, deed-in-lieu or loan mods on credit history in the past 5 years allowed. Borrower may be required to open a deposit account with the Bank (FDIC insured) and enroll in auto-pay for the mortgage payment.

Fees:
Fees vary by institution, Loan has a .5 point in the transaction at the bank, this will cover underwriting and processing. Additional costs are customary escrow, title, docs, prepaid interest, transfer taxes and recording fees. This loan has a separate non-refundable cost of appraisal and credit report, +/-($550).
 
Origination: 2.5 points + $845 processing in a Holding Escrow account paid at the close of escrow. (Holding Escrows are to be established in the borrowers' name and funded beforehand and are 100 % refundable in the event of no close of escrow or cancelation).
Posted by
Bob Thompson
Chief Executive Officer
Lending Advisors providing unique access to Hedge Funds, Private Money, Private Party, REITs, CMBS, Community, Regional & Global Bank niche mortgage products nationwide.
RT Capital Advisors
1 (562) 344-LOAN

 

 

Comments (3)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Bob - These good loan programs will help many homeowners.

Nov 21, 2015 12:48 PM
Winston Heverly
Winston Realty, Inc. - Atlantis, FL
GRI, ABR, SFR, CDPE, CIAS, PA

I enjoyed your post, I'm glad I came across it in the achieves. Have a super week this Christmas season.

Dec 21, 2015 11:41 AM
Bob Thompson 562.344.5626 Alternative Documentation
RT Capital Advisors, Inc. CEO - Newport Beach, CA
RT Capital Advisors, Inc.- Commercial/Residential

Thanks for looking Winston, I have alot of unique loan Products available in FL!

Merry Christmas.

Bob Thompson

ALTdocLoan.com

Dec 22, 2015 12:22 AM