If life gives you lemons… Finance of America Mortgage gives you HELOC! HELOC is a simultaneous 10/20 Home Equity Line of Credit. It gives borrowers the flexibility to take additional draws, and remains open so that borrowers have access to their equity to spend as they wish.
- New Furniture
- Cash Out
- College Payments
- Rainy Day Fund
- A Vacation
- A New Car
- Purchase and Refinance
- 680 minimum credit score
- Line limit up to $499,999
- Minimum line amount $10,000
- 43% DTI
- Primary Residence and Second Home
- 1-4 units, PUD and Warrantable condos
- Up to 95% CLTV
- ARM – Month to month variable rate
- Not available in Texas
HELOC lines of credit are especially attractive to…
- Borrowers looking for a line of credit.
- Borrowers wanting to avoid unexpected expense emergencies.
- Home owners wanting to tap into their home’s equity.
Get an idea of what your monthly mortgage payment may be, including costs associated with your mortgage such as property taxes, homeowners insurance, and Private Mortgage Insurance (PMI), if applicable.
Recalculate your new house payment based on loan amounts, interest rates, and other factors, to see if refinancing your mortgage is a smart financial move.
Calculate how much house you can afford. Get an estimate for a mortgage amount that may fit comfortably within your budget.
You have questions, we have answers.
Together, we’ll find great mortgage solutions.
Schedule a talk with a mortgage advisor or leave a message. We’ll get back within one business day.
Why Finance of America Mortgage?
We’re not about pushing loan papers. We’re about moving your dream forward. And we do that through knowledgeable local advisors, a personal approach, and a variety of smart loan options.