FAQs

HELOC General Questions

• Number of Borrower and NPEs Allowed
• Mortgagee Clause
• Credit Pulls - Soft Pull vs Hard Pull
• Expiration Dates
• NFTYDoor HELOC Product Description
• Home Equity Line of Credit (HELOC) vs. Home Equity Loan (HELOAN)

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HELOC Pre-Qualification

• Minimum and Maximum HELOC Amounts
• FICO Score Requirements
• Student Loan Calculations
• Credit Data Information
• Credit Report Dispute Information
• Bankruptcy Guides

HELOC In-Process

• Valuation & Appraisal Policy
• Trust Vesting Requirements
• Credit Report Debts/Liabilities
• Debts Paid By Others
• Personal Information Security
• Different Types of Loan Disclosures

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HELOC Closing

• Subordination of Liens
• RON Notary - Spanish Speaking
• Servicing and HELOC Monthly Payments
• Closing Overseas
• Languages Support by Notary
• HELOC Closing Dates - Tentative vs. Finalized

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HELOC Repayment

• Additional Draws on Funded HELOCs
• Minimum Redraw Amount
• Pre-Payment Penalties
• Interest Paid Tax Questions