The following are the minimum criteria that the borrower and/or property must
meet to become eligible to receive a home equity line of credit:
1. There cannot be more than two (2) owners of record of the property that will
be used to secure the line of credit.
2. The borrower must be an individual. We do not lend to trusts, partnerships
or corporations.
3. The property being used to secure the line of credit must be a primary
residence or true vacation/second home. We do not lend on investment or
income-producing properties.
4. The property used to secure the line must be a one to two-unit property.
5. The property used to secure the line must be permanently attached to real
property. We do not lend on mobile homes.
6. The borrower must be a US citizen or permanent resident alien.
7. The property must be located in one of the 50 United States, except Alaska
and Hawaii.
8. The home equity line must be in second lien position at closing. Any
existing liens on the property used to secure the home equity line, other than
the first mortgage, must be paid prior to or with the proceeds from this home
equity line of credit. More...
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