HELOC ExD CA Rates

Hi, I am Isabella with RateZen Mortgage. If you bought or refinanced your California home when rates were in the 2s or 3s, your first mortgage is one of the best financial assets you own. Doing a traditional cash-out refinance on your entire loan balance just to access equity for a remodel, an ADU, tuition, or high-interest debt consolidation means giving up that low rate. Today I am showing you how a UWM Standalone or Piggyback HELOC ExD at RateZen Mortgage lets you keep your first mortgage intact while giving you a flexible revolving line of credit. A Home Equity Line of Credit is built for homeowners who want flexibility. Whether you are funding a staged renovation or ADU where contractor draws happen over 6 to 12 months, or you want a standby line of credit ready to pounce on an investment opportunity, a HELOC lets you draw what you need, pay interest only on what you use during the draw period, and pay it back down whenever you want. Here is how our UWM HELOC tiers work. Number one: Line Amounts and Credit Tiers. Standard lines run from 25,000 dollars to 500,000 dollars starting at a 640 FICO score, and Extended tiers run from 20,000 dollars up to 750,000 dollars at 680 plus FICO. Number two: Combined Loan-to-Value up to 85 percent to 90 percent CLTV depending on occupancy, FICO, and line size. Number three: Draw Periods of 3, 5, or 10-Year ExD. The Extended Draw option gives you a 10-year interest-only draw period followed by a 20-year repayment period for a 30-year total term, whereas shorter 3- or 5-year draw options are also available. Number four: Fast Digital Process and AVM Eligibility. On qualifying properties and line sizes up to 400,000 dollars, automated valuation models or desktop appraisals can often replace a traditional interior appraisal, cutting weeks off the timeline. Whenever a homeowner asks whether they should do a cash-out refinance or a second-lien HELOC, we calculate their blended effective rate across the first mortgage and the new HELOC. Nine times out of ten, keeping a 3 percent first mortgage and adding a second lien wins by hundreds of dollars a month. Want us to run a Blended Rate and Equity Line calculation on your home? Click the button below to schedule a 15-minute call with Isaac Grajeda at RateZen Mortgage. RateZen Mortgage, a division of RateZen Mortgage, California DRE number 01948605, NMLS number 2089797. Call 424-RATE-ZEN, (424) 728-3936. Equal Housing Opportunity.

Quick reel transcript

Hi, I am Isabella with RateZen Mortgage. Want to unlock up to 750,000 dollars in California home equity for an ADU, renovation, or investment property without touching your low-rate first mortgage? If you have a 3 percent first mortgage on your California home, refinancing that entire balance just to pull out 100,000 dollars or 250,000 dollars in cash rarely makes sense. Instead, at RateZen Mortgage, you can leave your first mortgage untouched and put a UWM HELOC ExD, an Extended Draw Home Equity Line of Credit, in second position. Here are the three reasons homeowners love this line. First: You can open a credit line from 20,000 dollars up to 750,000 dollars, up to 85 percent to 90 percent combined loan-to-value for qualifying 640 to 680 plus FICO borrowers, and you only pay interest on the amount you actually draw. Second: With the Extended Draw option, you get a full 10-year interest-only draw period where you can draw, repay, and reuse funds for ADU construction, renovations, or investment purchases, followed by a 20-year repayment period. Third: On eligible lines up to 400,000 dollars, automated valuation options can often skip the full interior appraisal wait for a fast digital closing. Want to check your available HELOC line amount without touching your first mortgage? Click the link below to book a quick call with Isaac Grajeda at RateZen Mortgage. RateZen Mortgage, a division of RateZen Mortgage, California DRE number 01948605, NMLS number 2089797. Call 424-RATE-ZEN, (424) 728-3936. Equal Housing Opportunity.