“80/10/10” HELOC Lender Now Requires 720 FICO In CA Only

Our Home Equity Line Of Credit (HELOC) Lender, that offers the “10%” second mortgages in conjunction with “80/10/10” financing, increased its minimum FICO from 700 to 720. This applies to California only. This means that borrowers with limited down payment funds (less than 20%) will either have to take a single loan with Private Mortgage […]Read More

89.99% CLTV to $1.275 Million (10% Down to $1.275 Million)

Our 2nd Mortgage Provider (TCF) announced last week that they will finance $1.42 Million purchases with as little as 10% down. In other words, they now offer 2nd mortgages (Home Equity Lines) up to a combined loan amount of $1.275 Million. They used to cap their combined loan amounts at only $750,000. This is extremely […]Read More