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Disclaimer: Home equity line of credit is a loan secured by a lien against your property. Application required and subject to underwriting approval. If you elect to proceed with the loan process, we will need to obtain a copy of your credit report which may have an impact on your overall credit score.
* HELOC rates start at 8.95% APR (annual percentage rate) and are subject to change at any time. Disclosed APR assumes an owner-occupied single-family residence in California with a credit limit of $250,000 in second lien position, loan origination fee 4.99% of credit limit, combined loan to value (CLTV) of 75%, and minimum 795 FICO credit score. If these factors are not met, you may still qualify for a loan but higher rates may apply. Property insurance is required. The minimum line amount is $25,000. The term of the HELOC is 25 years with a 5-year draw period and 20-year repayment period. APR is a variable rate and based on an index of Prime Rate as published in The Wall Street Journal plus a margin of 7.00%. The maximum APR is the initial APR. Your APR will not exceed the initial APR and will not go below the margin at any time during the term of your loan. Advertised rates, terms and conditions are subject to change without notice. This is not a commitment to lend. Investment properties and certain property types are not eligible collateral.
* The proposed example is for illustrative purposes only. Revolving and installment debt used in simulation was provided by your credit profile. The average credit card interest rate is 27.94%, according to Forbes Advisor’s weekly credit card rates report. No in-person appraisal is required. We estimate the home value of your property using an automated valuation model (AVM) that analyzes recent property sales in your area to estimate the value of your property. Cash at Close and Available Equity Access is subject to loan to value and credit rescore restrictions. The HELOC draw period is for the first 5 years of loan term of which you may draw against your available credit with a minimum interest only required payment of proceeds borrowed. Every dollar paid back during draw period is available for redraw. At the conclusion of the 5 year draw period, loan will adjust to a 20 year principal and interest repayment term. In some cases, a tax return is not required to determine eligibility and is designed to accommodate homeowners who are unable to produce the standard documentation to prove they are capable of meeting the monthly obligations.