Home Equity Loan Program
Are you looking to renovate your house, consolidate your debt, pay for college or medical expenses? A HELOC (Home Equity Line of Credit) is an excellent source of money and allows you to have access to funds as you need it and pay interest only on money that has been spent. In contrast, a home equity loan (HELOAN) gives you money in a lump sum, you pay interest on the full balance from the beginning, regardless of whether you have spent it. The interest rates on HE LOANS are usually lower than those on other types of personal loans and the interest paid can be tax- deductible.
Loan Highlights
– Maximum Credit Line: Up to 500,000 (for well-qualified borrowers)
– Borrower up to 95% LTV
– Credit Score: as low as 620
– Draw Period: 10 years
– Repayment Period: Interest-only payments during the 10-year draw period;
– principal and interest payments during the 20-year repayment period
– Property Type: 1-4 Unit, Fee Simple, PUD, Condo, Townhouse
At A&D Lending we do offer 2 types of loans depending on your scenario.
If you are not sure which loan is the right product for you our representatives will help you to choose one.