-
Last Updated: 07/22/2024
in Homeowners FAQs HELOC What can I use my HELOC for? You can use your HELOC funds for various purposes, such as home improvements, repairs, consolidating higher interest rate debt, or other financial needs. Can I access my HELOC information online? You can manag...
-
Last Updated: 07/22/2024
in Homeowners FAQs HELOC
How do I draw money from my HELOC account? We offer a few convenient options: Online: Log in to our website or app to request an ACH advance to transfer funds to your deposit account. By check: Use the checkbook we have provided for y...
-
Last Updated: 08/28/2024
in Homeowners FAQs HELOC
How are HELOC payments calculated?
Typically, HELOC payments are calculated based on the interest rate, outstanding balance, amortization term and interest calculation methods as described in your HELOC agreement. HELOCs typically ha...
-
We love making homeowners happy—and what better way than to help you save money throughout the life of your loan? If you want to lower your monthly mortgage payment and have the means to make additional payments toward your loan principal, a mort...
-
A recast involves making one or more voluntary payments to reduce your loan principal by $10,000 or more and reamortize your unpaid balance over the remainder of your loan term. In other words, your monthly principal and interest payment will be rec...
-
Not all loan types are eligible. Under the current government rules, recast is not an option for USDA (RHS), VA and FHA loans. To qualify for a recast, the following must apply: Conventional loan (other types including USDA (RHS), VA, and FHA...
-
Last Updated: 06/24/2024
in Home Equity Loan Will I qualify for a Home Equity Loan? Typically, lenders will consider factors such as your credit score, debt-to-income ratio, amount of equity in the property, and loan-to-value ratio when determining eligibility and terms. Generally, the bett...
-
Why did my payment change? When your taxes and/or insurance bills change from year to year, it may be necessary to adjust the amount you are paying into your escrow account, too. Reasons your expenses changed may include: Insurance: Changes...
-
-
Last Updated: 06/24/2024
in Home Equity Loan
What is a Home Equity Loan? In short, it’s a type of loan secured by the equity in your existing, mortgaged property. You receive one lump sum of money at closing and repay it over a fixed period, with a fixed rate, on a fixed monthly payment. ...