home equity line of credit (heloc)
no income verified-verified assets (niva)
Must provide proof of at least 18 months PITIA reserves with 1 other property owned (lower reserves by 2 months for each property owned) otherwise 36 months of PITIA reserves.
- Owner-Occupied, Non-Owner Occupied and Second Homes, SFR’s, 2-4’s and Condos.
- Over 700 FICO needed
- Loan amounts from $150,000 – $1,000,000.
- Up to 70% LTV to $1,000,000 loans outstanding (including new HELOC)
- 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.
- No CPA Letter needed with 18+ months reserves.
- Available in: CA, MA, MD, WA, IL,TX, NV, NJ and NY.
- Fees: Negotiable
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