Our FD/BS Home Equity Lines of Credit (HELOCs) provide flexible options for accessing the equity in your home. Whether you choose the Fixed Draw (FD) or the Buffered Solution (BS), these lines of credit offer different levels of credit limits to meet your financial needs.

Key Features

  • FD HELOCs: Up to 95% Combined Loan-to-Value (CLTV)

  • BS HELOCs: Up to 85% CLTV

  • Minimum FICO Score: 660

  • Maximum Loan Amount: $650,000

Why choose our FD/BS HELOCs Loan Program?

  • Flexible Access to Funds

  • Interest Rate Options

  • Potential Tax Benefits

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Created: 10-31-2024
Updated: 10-31-2024
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PLEASE NOTE: We regularly update our program information to ensure accuracy. However, program details may change rapidly. For the most current and precise information, please contact us using the form on this page, via our Contact Us page, or by phone at (800) 919-1086

Program details

To apply for our FD/BS HELOCs or to learn more about how these products can help you leverage the equity in your home, please contact our loan specialists. We are here to guide you through the application process and help you secure the financing that best fits your needs.

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Program details

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  • Ideal for homeowners seeking to maximize their borrowing capacity, allowing a credit line of up to 95% of the home’s value.

  • Offers a more conservative borrowing option with a credit line up to 85% of the home’s value, providing a buffer to protect against market fluctuations.

  • Ensures that applicants have a good credit history, enhancing loan security.

  • Suitable for significant home improvements, debt consolidation, or other substantial expenses.

  • Choose from variable rates for BS HELOCs or fixed rates for FD HELOCs to suit your financial planning.

  • Interest paid on HELOCs may be tax-deductible; consult with a tax advisor for eligibility.

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FD/BS HELOCs Program FAQ

What are the main differences between the FD and BS HELOC options?

The FD (Fixed Draw) HELOC offers up to 95% CLTV, providing maximum borrowing capacity against the equity in your home. It is designed for borrowers who need large amounts upfront. The BS (Buffered Solution) HELOC provides up to 85% CLTV, offering a more conservative borrowing option with a smaller credit line to protect against market fluctuations.

The minimum FICO score required for both FD and BS HELOCs is 660, ensuring that applicants have a good credit history.

The maximum loan amount available under this program is $650,000. This allows for significant financial flexibility for large projects or expenses.

 

Yes, the FD HELOC typically offers fixed interest rates, providing stability in repayment amounts. The BS HELOC generally comes with variable rates, which might offer lower initial rates but can fluctuate with market conditions.

 

To apply for either an FD or BS HELOC, contact our loan specialists who will guide you through the application process. They can provide detailed information on the requirements, help you gather necessary documentation, and discuss which option best suits your financial needs.

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