Home Equity Line of Credit

Home equity lines of credit (HELOCs) have been very popular lately. Nobody wants to pull equity from their property by refinancing because property owners have a low rate on their mortgage. So the only beneficial way of tapping into the equity of your property is by taking out a home equity line of credit or a fixed second mortgage product called a closed-end second mortgage program. and explore the various benefits and considerations of offering this financial product.

HELOC Highlights

• Home Equity Line of Credit (HELOC) available for up to $500k
• Eligible properties include owner-occupied primary, second homes, and investment properties
• Debt-to-income ratio can go up to 50% with certain conditions met
• Combined loan-to-value ratios can reach as high as 90% for all types of occupancies
• Reduced appraisal options available
• FICO score requirements as low as 640

In New Jersey, we offer multiple home equity line of credit options. Please reach out to our office or fill out a fast quote and someone will schedule a call back with you.