Home Equity Loans

Home Equity Loans offer flexibility to easily access available funds anytime within the first 5 years. Easily finance any purchase, consolidate debt, or fund home improvements. There is no prepayment penalty, or early closure penalty. Easily qualify by stating your income and verifying 60 months PITIA (Principal, Interest, Taxes, Insurance & HOA) based on loan amount amortized over 15 years. 42 of 60 months PITIA may come from equities; 18 months PITIA must be verified.

Lending Criteria Description
Purpose:
  • Purchase and Refinance
Property Type:
  • Single Family Residence (1-4)
  • Condominium
  • Townhomes
  • Planned Unit Developments
Max Loan-to-Value
  • Purchase: 50%-60% LTV
  • Refinance: 50%-60% LTV
  • Cash-Out: 50%-60% LTV
Borrower Types:
  • Individuals
  • Corporations
  • Foreign nationals
  • Non-Permanent Resident Aliens
Minimum Credit Scores
  • N/A
Prepayment Penalty
  • None
Maximum Debt-to-Income (DTI)
  • N/A
Recourse
  • Yes
Broker Fee
  • 1-2 points (subject to loan)
Terms
  • 5 Years Draw
  • 15 Years Repayment
Loan Amounts
  • $200,000 – $1,000,000; 50%;
  • $1,000,000 – $1,500,000; 40%
Closing Timeframes
  • 45-60 days
Amortization
  • 30 years
Collateral
  • 1st & 2nd Trust Deeds
Other Costs
  • All 3rd Party Fees
This information is NOT a loan approval or commitment to lend. All rates, fees, products and program guidelines are subject to change or discontinue without notice.  Other limitations and restrictions may apply. The actual loan amount, interest rate, fees, costs and monthly payment on your specific loan transaction can vary and will depend on your choice of loan product and your unique credit profile. Loans (in CA) will be made pursuant to BRE License #02001852 & NMLS License #1463667. Loan Brook, Inc. is an equal housing lender.