Welcome to our Stand-Alone closed-end Second Mortgage Products. We are a leading mortgage company specializing in home equity lines of credit. We offer two fixed-rate second mortgage options. Whether you are an agency-qualified borrower or a non-QM-qualified borrower, we have tailored solutions to meet your specific needs.
Closed-End Conventional: A Product Designed for Agency-Qualified Borrowers:
For borrowers who meet agency qualifications, helocs.com offers the Closed-End Conventional product. This option provides a secure and reliable second mortgage solution.
Bank Statements for Qualifying Option:
We understand that traditional income documentation may not always reflect a borrower’s true financial situation. With the Bank Statements for Qualifying option, borrowers can provide bank statements to demonstrate their ability to repay the loan.
Standalone Option:
We exclusively offer the Stand-Alone option for its Closed End Second Mortgage Products. This means that the Second Mortgage is not tied to an existing mortgage or home equity line of credit, providing borrowers with greater flexibility.
Flexible Fixed Rate Terms:
Borrowers can choose from 10, 15, 20, or 30-year fixed-rate terms, allowing them to select a repayment plan that aligns with their financial goals and preferences.
Generous Loan Amounts:
The Closed-End Conventional product allows loan amounts of up to $750,000, enabling borrowers to access substantial funds for various purposes such as home improvements, debt consolidation, or educational expenses.
Maximum Combined Loan Amounts:
For borrowers with larger financing needs, helocs.com offers a maximum combined loan amount of $3,500,000. This feature allows borrowers to leverage their home equity to its fullest potential.
Inclusive Credit Score Requirements:
To qualify for the Closed-End Conventional product, borrowers need a minimum credit score of 700 using the primary wage earner’s credit score. This ensures that borrowers with a strong credit history can benefit from this product.
All Occupancy Types Allowed:
Whether you are a homeowner, an investor, or planning to purchase a second home, helocs.com welcomes all occupancy types. This flexibility allows borrowers to explore various homeownership options.
Up to 90% Loan-to-Value (LTV) Ratio:
With an LTV ratio of up to 90%, borrowers can access a significant portion of their home’s equity while maintaining a healthy level of equity cushion.
Suitable for 1-4 Unit Properties:
The Closed-End Conventional product is available for 1-4 unit properties, making it an ideal choice for a wide range of residential properties.
Debt-to-Income (DTI) Ratio:
We understand that borrowers may have different DTI ratios. With the Closed-End Conventional product, borrowers with a DTI ratio of up to 50% can still qualify for a Second Mortgage.
Closed-End NON-QM Access: A Product Designed for Non-QM Qualified Borrowers:
For borrowers who do not meet agency qualifications, helocs.com offers the Closed-End Non-QM Access product. This option provides an alternative solution for those who may not fit traditional lending criteria. Let’s explore its unique features:
Bank Statements for Qualifying Option:
Similar to the Closed-End Conventional product, the Closed-End Non-QM Access product also offers the Bank Statements for Qualifying option. This allows borrowers to provide bank statements as an alternative income documentation method.
Our Stand-Alone Closed End Second Mortgage Products offer agency-qualified and non-QM-qualified borrowers tailored solutions to access their home equity. With flexible fixed-rate terms, generous loan amounts, inclusive credit score requirements, and accommodating occupancy types, helocs.com ensures that borrowers can find the right second mortgage product to meet their unique needs. Whether you are looking to consolidate debt, fund home improvements, or pursue other financial goals, we are here to help you make the most of your home equity. Contact us today to explore your options and take the next step toward achieving your financial dreams.
