Piggyback HELOCs are available on primary and second home purchases, rate/term and cash-out refinances on conventional loans

Mortgage Broker Advisors Podcast

Standalone HELOCs are available on primary and second home loans as 20-year loans, in amounts up to $350,000.

MKG Enterprises Corp Third-Party Originator is please to offers Home Equity Lines of Credit up to 85% LTV with 640 credit score minimum loan amount $75,000 can be a standalone or Piggyback HELOC

Standalone HELOCs are a popular option for homeowners looking to access cash to consolidate and pay down debt, allocate money to home improvements, or cover life events.

A minimum 640 FICO score is required, as is a $25,000 minimum credit line, the initial draw must be 75% of the credit line. For line amounts up to $250,000, only an approved automated valuation model (AVM) is required. For amounts over $250,000, a full appraisal is required.

Piggyback HELOCs allow qualified conventional borrowers to secure a new mortgage on the home while opening a home equity line simultaneously. This is an option for borrowers who want to split up a first and second mortgage to avoid mortgage insurance, or to keep their first in a conforming loan.

Piggyback HELOCs are available on primary and second home purchases, rate/term and cash-out refinances on conventional loans. Loan amounts can be up to $350,000, and a minimum 680 FICO score is required. The minimum line amount is $10,000 and the initial draw must be 75% of the line amount. For line amounts up to $250,000, an appraisal waiver is accepted with an approved AVM.

Both the Piggyback and Standalone HELOCs are not applicable in Texas.

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