HELOC Loans
Piggyback HELOC – Pink (30-year)
- 680+ FICO, up to 85% CLTV*
- Up to 50% DTI*
- $20,000 minimum line amount, initial draw must be 75% of line amount
- Draw amount up to $500,000
- 3- and 5-year draw periods
- For line amounts up to $400,000, an appraisal waiver is accepted with an approved AVM
- Available on all transaction types
*Subject to first lien restrictions
Not eligible in Tennessee (primary loans only) and Texas
Standalone HELOC – Pink (20- and 30-year)
- 680+ FICO, up to 85% CLTV
- Up to 50% DTI
- $25,000 minimum line amount, initial draw must be 75% of line amount
- Loan amounts up to $500,000
- 3- and 5-year draw periods
- For loan amounts up to $400,000 and approved AVM, exterior-only appraisal or full appraisal is required. For loan amounts over $400,000, a full appraisal is required.
- Eligible for primary, secondary and investment homes
Not eligible in Iowa, Tennessee (primary loans only), Texas, and Vermont
Standalone HELOC – Yellow (20- and 30-year)
- 640+ FICO, up to 85% CLTV
- Up to 50% DTI
- $25,000 minimum line amount, initial draw must be 75% of line amount
- Loan amounts up to $350,000
- 3- and 5-year draw periods
- For loan amounts up to $250,000 and approved AVM, Broker Price Opinion, desktop appraisal, or full appraisal is required. For loan amounts over $250,000, a full appraisal is required.
- Eligible for primary, secondary and investment homes
Not eligible in Iowa, Tennessee (primary loans only), Texas, and Vermont
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