Home Equity Line of Credit (HELOC) - Degang Cheng, a Loan Officer in SF Bay Area

When your home equity is substantial, how will you use it to gain more value?

To consolidate debts?
To cover emergency or unexpected expenses?
To renovate or remodel the house？

Googain heard your needs, and proudly announced the new HELOC program, which will help you use your home equity wisely to maximize its value.

For Primary Residence, the Promo Rates continue:

When CLTV < or = 70%, the applicant can initially enjoy a promotion low rate of 3.99% for the first 12 months (for owner-occupied HELOC of $250,000, with an APR as low as 8.992%), and can opt for interest-only payments each month.
When 70% < CLTV < or = 80%, the applicant can initially enjoy a promotion low rate of 5.99% for the first 12 months (for owner-occupied HELOC of $250,000, with an APR as low as 9.245%).
Self-employed applicants can choose to provide 24 months of business bank statements in lieu of tax returns to apply for an owner-occupied HELOC, with a limit up to $250,000. When CLTV < or = 70%, self-employed applicants can get the rate as Prime Rate + 0.75 (for owner-occupied HELOC of $250,000, with an APR as low as 9.366%). There’s no promotion low rate for the first 12 months.
No annual fee & No prepayment penalty (PPP) —— borrowers can pay off and close the HELOC at any time.
After first 12 months, the rate will adjust to the market rate, which is Prime Rate + Margin. As of today, the Prime Rate is 8.5%. Margin is normally floating between 0.5% and 1.5%. It will be determined and fixed during the HELOC application process.

Degang Cheng, PhD
Loan Officer
NMLS: 2464860
Googain Inc.
NMLS: 275975
1288 Kifer Rd STE 208, Sunnyvale, CA 94086
Email: DegangCheng@googain.com
Cell Phone: 510-516-8551