!
2014 Guide to HELOC
Home Equity Line of Credit
Educating and Empowering since 1988
www.FindMyWayHome.com
Licensed by the...
HELOC Under the Hood
★ Introduction & Guidelines
★ Borrower & Property Requirements
★ HELOC Interest Rates & Terms
★ How t...
Home Equity Line of Credit
Educating and Empowering since 1988
www.FindMyWayHome.com
Licensed by the Department of Busines...
Educating and Empowering since 1988
★ Credit Line Secured by Equity
★ Only Pay What You Owe
★ Can Be Used Behind Most 1st ...
★ Owner Occupied Only
★ No Non-Occupant Co-Borrowers
★ Minimum Credit Score 700 in California
★ Qualify using Primary Borr...
★ Single Family Homes / Condo / Townhouse
★ Owner Occupied Duplex OK
★ Cannot be used behind Interest Only 1st
★ Ok behind...
★ 80% CLTV or Below = Prime + 1.49%
★ 80.01% CLTV to 89.99% = Prime + 1.99%
★ March 2014, Prime = 3.25%
★ 10 Yr Interest O...
How to Avoid Mortgage Insurance
Educating and Empowering since 1988
www.FindMyWayHome.com
Licensed by the Department of Bu...
★ 80/10/10 Purchase is Back
★ Avoid High Balance Loans
★ Avoid FHA Loan Limits
Purchase Money Options
Educating and Empowe...
★ Split Loan over 80% LTV
★ Debt Consolidation Solution
★ Avoid High Cost or FHA Loan Limits
Refinance Options
Educating a...
Wrap Up & Take Aways
Educating and Empowering since 1988
www.FindMyWayHome.com
Licensed by the Department of Business Over...
★ 89.99% CLTV up to $750,000 (combined)
★ No Appraisal or Title Insurance (up to $250k)
★ Use to Avoid PMI, MI or Jumbo Fi...
Educating and Empowering since 1988
www.FindMyWayHome.com
Licensed by the Department of Business Oversight under the Calif...
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Broadview Mortgage Long Beach - California Home Equity Line of Credit - HELOC

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Piggyback mortgages are back with the availability of this new HELOC program available up to 89.99% combined loan to value. Avoid mortgage insurance, avoid high balance loans, avoid jumbo financing by using a combination 1st, 2nd piggyback strategy.

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Broadview Mortgage Long Beach - California Home Equity Line of Credit - HELOC

  1. 1. ! 2014 Guide to HELOC Home Equity Line of Credit Educating and Empowering since 1988 www.FindMyWayHome.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  2. 2. HELOC Under the Hood ★ Introduction & Guidelines ★ Borrower & Property Requirements ★ HELOC Interest Rates & Terms ★ How to Avoid Mortgage Insurance Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Extra Credit Teacher Program Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  3. 3. Home Equity Line of Credit Educating and Empowering since 1988 www.FindMyWayHome.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  4. 4. Educating and Empowering since 1988 ★ Credit Line Secured by Equity ★ Only Pay What You Owe ★ Can Be Used Behind Most 1st Mortgages ★ Avoid PMI & Jumbo Loan Limits ★ Approved at time of 1st Mortgage More Options for Consumers BMC Home Equity Line of Credit Introduction to HELOC www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  5. 5. ★ Owner Occupied Only ★ No Non-Occupant Co-Borrowers ★ Minimum Credit Score 700 in California ★ Qualify using Primary Borrower Mid Score ★ No Minimum Score for Co-Borrower ★ Maximum Debt to Income 38/45 Borrower Requirements Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com BMC Home Equity Line of Credit Qualifying for a HELOC
  6. 6. ★ Single Family Homes / Condo / Townhouse ★ Owner Occupied Duplex OK ★ Cannot be used behind Interest Only 1st ★ Ok behind amortized ARMs ★ Maximum 6 “non-subject” properties ★ Maximum 10 acres on subject property Property Requirements Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com BMC Home Equity Line of Credit Qualifying for a HELOC
  7. 7. ★ 80% CLTV or Below = Prime + 1.49% ★ 80.01% CLTV to 89.99% = Prime + 1.99% ★ March 2014, Prime = 3.25% ★ 10 Yr Interest Only Draw / 20 Yr Pay Back ★ No Minimum Draw or Balance Required Interest Rates & Terms Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com BMC Home Equity Line of Credit HELOC Payments
  8. 8. How to Avoid Mortgage Insurance Educating and Empowering since 1988 www.FindMyWayHome.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  9. 9. ★ 80/10/10 Purchase is Back ★ Avoid High Balance Loans ★ Avoid FHA Loan Limits Purchase Money Options Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com BMC Home Equity Line of Credit Best Use Scenarios
  10. 10. ★ Split Loan over 80% LTV ★ Debt Consolidation Solution ★ Avoid High Cost or FHA Loan Limits Refinance Options Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com BMC Home Equity Line of Credit Best Use Scenarios
  11. 11. Wrap Up & Take Aways Educating and Empowering since 1988 www.FindMyWayHome.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  12. 12. ★ 89.99% CLTV up to $750,000 (combined) ★ No Appraisal or Title Insurance (up to $250k) ★ Use to Avoid PMI, MI or Jumbo Financing ★ Creative Lender is Key! Quick Review HELOC Awesomeness Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com BMC Home Equity Line of Credit
  13. 13. Educating and Empowering since 1988 www.FindMyWayHome.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com ! Thank You for Watching! Ask Questions or Check Eligibility Below

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