Home equity is a great way to accumulate wealth and financial flexibility over time.
Pacific Access Mortgage offers a variety of home equity loans to suit your needs. Retirement, vacations and education are some examples.
Requirements
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Home equity lines of credit and loans allow you to take advantage of the value of your house, but they come with criteria that need to be met in order to get approved. You should have a high loan-to value ratio. This is a measure of how much equity you have in your home compared to its current market value. Find lenders with competitive rates and fees. Home equity lines of credits can be used to fund various expenses or investments, without having to pay them all back at once.
Interest Rates
Rate spread is the difference between the interest rate on a home equity line of credit and a conventional loan. Pacific Access Mortgage Home Equity offers some of the most competitive HELOC rates available. Customers can also use their mobile app to stay connected with their loan officer and track their application.
Pacific Access Mortgage Home Equity rates are based on the type of loan and your credit history. You can get an estimate on their website, but if you want a more personalized estimate, speak to one of their loan officers.
Fees
Your home will be one of your largest investments. Pacific Access Mortgage understands how important it is to have a loan tailored to your needs and lifestyle. We are licensed mortgage bankers for Hawaii and California. We offer a variety of home loan programs that are tailored to each state, as well as payment options that keep you on budget. Our home equity line-of-credit (HELOC), whether you are planning to purchase a new house or refinance existing debt, gives you the flexibility to use funds for any purpose.
Documentation
To apply for home equity, you will need to provide several documents. If you are requesting a deferment of your loan, be sure to have all the necessary documentation such as proofs of income or pay stubs. It is also advisable to request hardship letters if there has been an unexpected financial setback. If this sounds interesting, visit the Borrower Assistance Page of Key Bank today! We wish you luck with your application!