Equity Select: New Home Equity Loan Option
Irvine News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Discover a new home equity lending option, Equity Select from High Tech Lending, that allows homeowners to borrow more with a tiny monthly payment. This innovative solution helps those with high equity but low cash flow, such as retirees facing medical bills or daily expenses. It maintains a low debt-to-income ratio, preventing the need to sell the home. However, it can negatively amortize if full interest isnt paid. Meanwhile, Freddie Mac reports a slight increase in thirty-year fixed rates and a drop in fifteen-year fixed rates. Mortgage applications surged, and local rates for well-qualified borrowers start at 5.375% for thirty-year FHA.
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