125% home equity loan

What is a 125% home equity loan?

The is a second mortgage that allows you to borrow more than what your home is worth. You can borrow up to 125% of your home's value. This is an ideal loan for you if you have no equity in your home. If you have a VA or a FHA loan or want to payoff a second mortgage to get some extra cash this one is for you. Its generally tax deductible up to 100% of the value available of the house.

How does it works ?

This is a FICO based program with a minimum of 640 middle fico score required. Presently there are no exceptions. For example, if your house is worth $100,000 then you would be allowed to borrow a combined total of $125,000 between your first and second mortgage.You have to be in the property for at least 6 months or to be a previous owner.

Why should I apply ?

Pay off credit cards,and other debt.
Lower your payments by hundreds of dollars each and every month, and make only one easy monthly payment.
Make home improvements, pay college tuition, or just take a vacation.
Tax deductions ( please consult your CPA)
What is the criteria for this loan ?

FICO Scores 640 and above.
Some Cash Out restrictions
Loan amounts $30,000 and above
For A Credit borrowers
Bankruptcy 5 years discharged.
Appraisal required for amounts above $35,000
Six months in the property or a previous home owner.