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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.