Pre-Approval
for California, CLTV is 85%
What is the max CLTV?
Draw Period
What is the first 10 years of the HELOC ?
Desktop, Drive-by and Full
What is an appraisal?
$500
What is a reconsideration of value / dispute of original appraisal ?
Lowest amount loaned for HELOC
What is 10k?
2 million
What is the MAX HELOC amount?
Credit Card or LOC
What does a HELOC work similarly?
Auto, Premier and/or Employee
what are discounts available for the life of the HELOC ?
80% or lower CLTV
What is the CLTV that provides the best pricing?
Right of Rescission
what is 3 days ?
HELOCs allowed through out the United States
what is all states except for NY and TX?
Check, Or Online banking
What are HELOC advance options?
5.99% APR
what is the 6 month intro promo ?
$75
What is the annual ?
Proof of Income
What is required on ALL HELOC applications; regardless of the FICO score?
Lien Position
what is 1st or 2nd position only?
Popular reason clients request a HELOC
What is home improvement?
6.99%APR
What is the 12 month intro rate offer ?
36 months
What is a pre-payment penalty?
No Fees
What is the general process for a HELOC?
Use for a HELOC
what is the statement purpose
Interest rate change on a HELOC
what is when Prime rate changes ?
6 months
What is the property must be owned ?
Max DTI for clients
What is 45%?
Fully amortized
What is 20 years ?