Posts

HELOCs Fading; Jumbo Rates Way Higher; FAQs

Two of the nation’s largest banks announced that they will no longer originate new Home Equity Lines of Credit (HELOCs). This is of course in response to the COVID-19 crisis. We still offer HELOCs but only to 90% Combined Loan to Value (95% CLTV no longer exists) and only for purchase money financing. In Texas, […]Read More

Home Equity Line = Best “Bridge Loan;” Cheaper, Easier, More Cash

We mention this often, but Home Equity Lines of Credit are the best “Bridge Loans” for buyers who want to buy a new home before selling their current home. They are the cheapest, easiest and fastest way to access cash to use for the purchase of a new home. U.S. Bank for example will lend […]Read More

Home Equity Line of Credit (HELOC) Explained – Terms

Home Equity Lines of Credit (H.E.L.O.C.s) are popular once again b/c borrowers now have more equity in their homes and b/c HELOCs are the “10” in our “80/10/10” financing. 80/10/10 financing allows borrowers to only put 10% down and avoid PMI with an 80% first mortgage, and a 10% HELOC/2nd mortgage. Our HELOCs have the […]Read More