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Real Estate and Home Equity Closed End Loans Up To 20 Years
Paper
A
B
C
D
Terms up to 20 Years
95% LTV
95% LTV
95% LTV
95% LTV
5.00%
6.00%
6.00%
6.00%
HELOC (Line of Credit)
Score
LTV
Rate
A - 700 or higher
Up to 95%
Prime
B - 680-699
Up to 95%
Prime +1
C - 660-679
Up to 95%
Prime +2
D - 640-659
Up to 75%
Prime +3
Terms: 10 year draw period, up to 15 years to repay the balance.
Payments: 1% of outstanding principal balance with minimum payment of $100.00.
HELOC has a floor rate of 3.00% APR, and a ceiling rate of 18% APR
Current Prime Rate = 3.25% APR