HELOC / HELOAN Loan
The HELOC / HELOAN offers 2nd position loan options to homeowners to leverage their home equity for cash-out flexibility, investments, or major expenses with competitive terms.
Program Highlights
- Credit Score: 620+
- Loan To Value: 90%
- Occupancy: Primary Residence, Second Homes & Investment Property
- 12 or 24 months of personal or business bank statements
- 10-year draw period
- Seasoning: 6-month cash-out seasoning permitted for Refinances
- Interest-only or fixed payment options
- Reserve: 3 months+
- Cashout: Unlimited
- Loan Amounts: Up to $1,000,000.
Eligible Property Types
- Single-Family Residences (SFR)
- 2–4 Unit Properties
- Condominiums
- Planned Unit Developments (PUDs)
