Veronica G
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Recent activity by Veronica G-
Credit Report Dispute Information
For issues with your credit report including managing credit freeze/lock, reporting fraud, removing/adding fraud alerts, identify verification, remove blocks from bureau file preventing lenders fro...
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Vesting in a LLC
A HELOC cannot close vested in a LLC.The Property Deed needs to be out of the LLC and in the borrower's name before we start the application and when we fund the HELOC. The system will NOT draw up ...
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Use of Funds
Home equity lines of credit can be used for home improvement, to buy a car, pay for college tuition, to make major purchases including other real estate, or debt consolidation.
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HELOC Product Description
The HELOC is a standalone product. It requires a minimum 75% draw at closing and has no prepayment penalties:Available in all 50 states and DC• Minimum Loan Amount $25,000*• Maximum Loan Amount $75...
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Out of Pocket Expenses
Generally, there are no out-of-pocket expenses if the loan amount is under $500,000 and no full appraisal is required.All fees and closing costs are netted against loan proceeds at settlement. This...
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Expiration Dates
AVM Valuation - 30 daysHard Equifax FICO8 credit pull - 90 daysIf any of these pass the expiration date, they will be rerun and may cause updates to the HELOC offers (HELOC loan amount, CLTV, etc).
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Pre-Payment Penalties
There are no pre-payment penalties for the HELOCs.
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Personal Information Security
Our HELOC program does not store the username or password and cannot view the credentials during entry. It is the most effective way for us to protect your information securely against fraud or una...
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Interest Paid Tax Questions
Please make sure that you reach out to your personal tax advisor on any interest paid on the HELOC. We are unable to provide any information or professional guidance on this topic
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Minimum and Maximum HELOC Amounts
For both a 1st & 2nd lien loan, the minimum loan amount is $25,000 and maximum loan amount is $750,000*For borrowers with FICO score between 600 to 639, the maximum loan amount is $250,000*For borr...