(NIVA) Home Equity Line of Credit (HELOC) No Income Verified - Verified Assets
- Owner-Occupied, Non-Owner Occupied and Second Homes, SFR's, 2-4's and Condos.
- 620+ FICO needed. Must provide proof of at least 6 months of PITIA reserves.
- 700+ FICO 3.88% rate for the first 6 months.
- Loan amounts from minimum of $150,000 - $5,500,000.
- 70% LTV to $1,000,000 loans outstanding (including new HELOC)
- 50% LTV to $5,500,000. 5.5%
- Interest only start rate for the 10 year draw period, 20 year amortization. 1 floating over WSJ Prime in 1st position on free and clear properties
- Interest only start rate for the 10 year draw period, 20 year amortization. 2 floating over WSJ Prime in 2nd position.
- Reduce rate by .5% for the life of the loan when you take an initial draw of $50K, maintain balance for 6 months, open an account at the Bank and choose auto-pay.
Available: CA, NV, WA, IL, GA, MA, NJ and NY.
Fees: 2.5 points + $995 processing at the close of Escrow.