Home Equity Line of Credit (HELOC)

Avoid mortgage insurance (MI) with a HELOC


Use a HELOC second loan to purchase a home with a down payment as low as 10% and eliminate paying monthly mortgage insurance.

HELOC Program Guidelines:

  • Maximum 89.99% combined loan to value (CLTV) on primary residence for combined liens of up to $1,500,000 or less (second/vacation home option also available1)
  • Full, partial, or zero draw options available at closing
  • May be structured with gift funds
  • Owner occupied only (including second homes)
  • Minimum 700 FICO credit score2 of primary wage earner for combined liens of $750,000 or less (730 minimum FICO score for combined liens greater than $750,000 or if property is a second home)
  • Available for single-family homes, condos, townhomes, and owner occupied duplexes

Contact us today to learn more about HELOC second loans and how using one can potentially help you avoid paying monthly mortgage insurance.

HELOC home loans offered through TCF Bank. 1Restrictions apply. Contact us for details. 2720 minimum FICO score required for refinances in California for combined liens of $750,000 or less. Program guideline information may change without notice. Please contact us for the latest program guidelines.

We'll walk you through each step of the loan process.
Contact us today to get started!