HELOC (Home Equity Line of Credit)
Avoid mortgage insurance (PMI) with a HELOC
With a down payment as low as 10%, you can eliminate paying monthly mortgage by using a HELOC.
HELOC Program Guidelines:
- Maximum 89.99% combined loan to value (CLTV) on primary residence for combined liens of up to $1,500,000 or less.
- May be structured with Gift Funds.
- Owner Occupied only (Including Second Homes).
- Minimum 700 FICO credit score for primary wage earner up to $750,000 combined liens. Higher credit score may be required for higher loan amounts.
- Available for single-family homes, condos, townhomes, and owner occupied duplexes.
- Full, partial or zero draw options available at close of escrow.
- May be used in Purchase or Refinance Transactions.
Restrictions Apply. HELOC home loans offered through TCF Bank. Contact Doug Bullwinkel for Details. Program guidelines subject to change without prior notice.