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Updated 3 months ago,
Looking for a HELOC on your investment property, primary or second home in CA or FL?
Get cash out of your investment property, primary or second home easily with online income and property verification
More details:
- Values determined by AVM (automated valuation model), not a full appraisal
- Quick and easy online verification process
- No cash needed at closing except for $150 for states that require an in person notary
- Credits score down to 640 for primary homes and 680 for investment properties
- CLTV are up to 85% for cash out for primary homes and up to 70% for investment properties (max CLTV depends on credit score)
- HELOC maximum line amounts up to $400,000 for primary homes and $250,000 for investment properties (maximum loan to value (LTV) varies based on credit score)
- Only available on one unit properties such as single family residences, condos, planned unit development (PUD) and townhouses.
- Fixed 5-30 year fully amortized loan terms with 2-5 year draw periods. Full draw required at closing. Subsequent draws can be any amount above $500. Additional draw limit is 100% of total line of credit.
- Up to 50% debt to income (DTI). Income can be from earnings or asset depletion. Spousal income can be considered in community property / homestead states. Income verified online through borrower's source of choice such as bank statements, asset accounts, paystubs and IRS tax filing.
- Properties must have been bought at least 90 days ago.
- U.S. citizens or permanent residents. Property must vest as individuals or a revocable trust. LLCs not allowed.
- Fast funding.
- Application must be completed within 14 days.
- Inquire for additional details.
These HELOCs are only for properties located in California or Florida.
I look forward to hearing from you.
- Stacy Raskin
- [email protected]
- 818-770-0340
Bright Skyline
13 Reviews
5.0 stars
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