Veronica G
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Recent activity by Veronica G-
Non-Occupant Co-Borrowers
Primary Residence Only (for the occupying borrower)Single Family Residence OnlyThe non-occupying borrower must:Sign the NoteMeet the minimum credit history and credit score requirements, andMay not...
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Eligible and Ineligible Borrowers
Eligible BorrowersUnited States CitizensUnited States Citizens are individuals born in the United States, Puerto Rico, Guam, Northern Mariana Islands, Virgin Islands, American Samoa, Swain’s Island...
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Geographic Eligibility
Our HELOC is available in the Contiguous States, DC, AK, HIBrokers must be licensed in the state where the subject property is located.
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Assumptions
Assumptions are not allowed.
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Loan Term
5 Year Draw with Interest-Only Payments25 Year Amortizing RepaymentNote: Tennessee transactions are 5 Year Interest-Only and 10 Year amortizing repaymentNote: The interest rate is indexed to the Wa...
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Acreage
There is no maximum acreage except in Texas, which has a maximum of 10 acres.
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Eligible and Ineligible Properties
Eligible PropertiesSingle Family Residence2-4 Units (Min 640 FICO)PUD / Townhome / Condo (Warrantable and Non-Warrantable)Modular Homes (Factory-Built)Ineligible Properties Agricultural Zoned Prope...
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Escrow Holdback
Escrow holdbacks are not allowed.
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Debt-to-Income (DTI)
The maximum DTI ratio is 50%. FICOs 600-679 are restricted to 45% DTI. Calculation (Liabilities + Interest-Only Payment*) ÷ Total Verified Income*Based on Maximum Draw
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Minimum Initial Draw
The minimum initial draw is 75% of the line amount.