HELOC Overview
The HELOC program is Home Equity Line Of Credit.
Index + Margin. 30 Years term, 10 Yrs I/O Draw Period followed by 20 Years Amortization.
Rate: CLICK HERE
* Index: Prime Mortgage Rate floated with the market.
Margin: Subject to loan scenarios.
HELOC Program Highlights
Prime HELOC
♦ No Prepaid Penalty;
♦ Title and Escrow Closing Fee $370-$650 (Closing with Title Company Designated by AAA LENDINGS);
♦ Concurrent (Max CLTV/HCLTV 89.99%)(Min FICO 680) (The 1st lien must be done at AAA)/Standalone(Max CLTV/HCLTV 85.00%)(Min FICO 700)
♦ Max Line Amount $500,000
♦ Investment Ineligible
♦ Primary Home (Concurrent Max CLTV/HCLTV 89.99%)(Standalone Max CLTV/HCLTV 85.00%)
♦ Second Home (Concurrent Max CLTV/HCLTV 80.00%)(Standalone Max CLTV/HCLTV 80.00%)
Expanded HELOC
♦ No Annual fee;
♦ No Prepaid Penalty;
♦ Primary & Second home are eligible.
♦ RT/CO: Max CLTV/HCLTV 85%