Available for our clients age 62 and older on their primary residence.
A standard HELOC or Second has to be paid back fully at some point in time; usually 15, 20 or 30 years.
Our HELOC for seniors has NO specific end date. The principal is due when the home is sold.
Interest only payments forever! Your interest-only payments NEVER change to amortized principal and interest payments after your draw period ends. You will never have to worry about that inevitable bigger payment down the road.
FAST! – get your cash in 5 business days1
Up to $400,000 credit limit2
FAST! - we can prequalify you in a few minutes and with a soft credit inquiry only3
No prepayment penalties! Pay your loan off anytime with no fees.
1 Approval may be granted in ten minutes but is ultimately subject to verification of income, employment, and property value, as well as verification that your property is in at least average condition with a property condition report. Five business day funding timeline assumes closing the loan with our remote online notary. Funding timelines may be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing, or require a waiting period prior to closing.
2 Loan amounts range from a minimum of $50,000 to a maximum of $400,000. Your maximum loan amount may be lower than $400,000, and will ultimately depend on your home value, lien position, credit profile, verified income amount, and equity available at the time of application. We determine home value and resulting equity through independent data sources and automated valuation models.
3 To check the rates and terms you qualify for, we will conduct a soft credit pull that will not affect your credit score. However, if you continue and submit an application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
For industry professionals only — not intended for distribution to the general public.
This is to be used for informational purposes only and should not be construed as legal advice.
Please consult with your own legal/compliance department.
This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.