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| Quickpay Home Loan
(HELOC) |
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What
is Quickpay
HELOC? |
A
Home
Equity Line
Of Credit is a loan taken
out against
the value of
your home.
They have
low payments and
our exclusive program
makes signing up
for a home equity
line of credit
quick and easy.
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| Quickpay
Advantages |
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- Apply,
get
approved
and
schedule
your
closing
in
15
minutes
or
less
- Get
up
to
$500,000
dollars
in
a
matter
of
days!
- We
do
not
charge
points
OR
processing
fees
- No
prepayment
penalties!
- Tax
deductible
Interest.
| Requirements |
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- The
property
must
be
a single-family
residence,
condo,
townhouse
or
PUD,
Manufactured
and
mobile
homes
are
not
acceptable.
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| Key
Benefits: |
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- Pay
off high interest credit
card debt
- Buy
that new
car!
- Pay
off college tuition
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- Make
home improvements
- Take
a relaxing vacation
- Purchase
real estate
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Frequently
Asked
Questions: |
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What
is the minimum FICO score
required? |
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Our
minimum score is 640.
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How
much can you borrow? |
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You
can borrow as much as $500,000,
up to 80% of your available
equity. If
you are looking for a loan
amount at or below $250,000.00,
we can loan up to 100%
of your available equity.
If
you have more than one
home, you can borrow up
to $1,000,000 combined
on the combined homes. But
you must apply twice, once
for each home.
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What
is the minimum and maximum
loan amount allowed? |
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The
minimum loan/line amount
is $10,000; the maximum
loan/line amount can not
exceed $500,000 per home.
This
product is a second lien
Home Equity Line of Credit. Our
HELOC has a 30-year term
with a 10 year draw period. During
that time, you can draw
money out of your line
of credit and are only
required to pay the interest
due on the loan every month. Any
amount paid above the interest
due will be applied directly
to the principal; balance
of the loan. If
there is a balance left
on the loan at the end
of the 10 years, then the
remaining balance will
be amortized over a 20-year
repayment periods. Your
draw period ends against
the line of credit and
principal and interest
is due. The
APR/ interest rate is based
on prime plus or minus
margin.
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How
long does it take to
close a loan? |
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We
approve within minutes and
we can close in just days. We
close in the comfort of your
home and at a time that is
convenient for you, Monday-Friday
8am-8pm; and Saturday 9am-5pm. However,
the average number of days
for processing a loan that
requires an appraisal or
for which a client is fully
documenting their income
is typically 20 business
days.
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What
do you need to have at
closing? |
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You
must be present at closing
and have one of the following
valid forms of photo ID:
- A
state-issued driver’s
license
- A
state-issued ID Card
or
- A
U.S. State Department-issued
passport
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What
can you expect to happen? |
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On
the scheduled closing date,
a notary will arrive at your
home to witness the signing
of the closing package. The
closing package includes
the agreement, promissory
note, the mortgage or deed
of trust and the Notice of
Right of Rescission. After
you sign these documents,
the closing is complete. The
entire process should take
less than 30 minutes.
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On Realty Home Loans! |
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