If a refinance isn’t right for you or if you own your home free and clear, we offer a stand-alone home equity line of credit (HELOC. Our fast approval process and expedited closing will let you access your funds quickly.
HELOCs usually have lower rates than credit cards and personal loans, and you can open one even if your mortgage is with another lender or you’ve already paid off your home.
Key benefits
Stand-alone:
- Behind an existing first lien
- With no existing first lien or
- Where the existing first lien will be refinanced into a HELOC also in first lien
- Available in New York
- Draw HELOC funds as needed
- Line amounts of $50,000-$500,000
- Maximum CLTV: 85%
- Minimum 700 FICO score
- Variable rate based on The Wall Street Journal prime rate
- Minimum initial draw required at closing must equal the greater of $50,000 or 75% of the full line amount
- Interest-only option available
Primary residences:
- 1- to 4-unit primary properties and 1-unit second homes
- Warrantable condominiums
- Planned unit developments (PUDs)
Contact us for more information about our Heloc programs, we have several including a No Income Check home equity line of credit based on 50% of the value of the property.
