Any mortgage brokers out there doing any fixed Home Equity Loans up to 90% LTV?

Asked by Maximillian Corwell, Atlanta, GA Wed May 1, 2013

Helping a client out and trying to find them a fixed rate Home Equity Loan with up to 90% LTV. They are well qualified.

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Sheila Malloy, Agent, Dunwoody, GA
Wed May 1, 2013
Yes, try Mike Malloy at Heritage Bank. 770.663.1215. As honest as the day is long, over 25 years experience in ATL.
0 votes
William Pola…, Mortgage Broker Or Lender, Suwanee, GA
Wed May 1, 2013
Try Georgia's Own Credit Union. They go up to 95% for fixed and 100% for ELOC.

Here are some of the parameters if my memory serves me right:

Minimum score 700
Maximum loan amount: $250,000
Minimum loan amount: none
Fixed 15 year rate: around 10.99
Fixed 30 year rate: around 12.99
HELOC (ELOC): prime plus 1 for the first 6 months (check that for accuracy - I never sold those as they can be deadly).
You have to make sure that the first mortgage company will accept the second lien. Sometimes, it's better to go with a lender who offers both first and second combined.
They require loan approval on the first mortgage before they start the second loan. It can delay the closing by as much as 2 weeks. DTI max is 40%.

US Bank also offers either 1 loan with lender paid mortgage insurance or split the loan out. OMG!! Make sure your loan officer knows how to read US Bank's guidelines. They are very tricky and can cause you a heart ache.
0 votes
Chris Irvin, , Atlanta, GA
Wed May 1, 2013
We have a fixed rate HELOAN product up to 95% CLTV. I'd be happy to assist you and your client with more specific details and options. Feel free give me a call of email.

Chris Irvin
Mortgage Banker
Brand Mortgage
NMLS 75615/465546
0 votes
Michael Kemp…, , Atlanta, GA
Wed May 1, 2013
yes we do offer, Conventional or Jumbo

Michael Kempter
Senior Loan Originator,NMLS# 101596 GRMA# 30094

Angel Oak Funding LLC, NMLS # 685842 GRMA # 32379
One Buckhead Plaza Suite 1560
3060 Peachtree Road NE
Atlanta Ga 30305
Office 404-637-0362
Cell 678-427-4217
Fax 404-410-6898
Apply online-
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