Education, Customer Service Can Attract Home Equity Borrowers

Education, Customer Service Can Attract Home Equity Borrowers

More Americans are considering borrowing against their homes, and want reputable lenders to help them understand their options. Nearly three in ten American homeowners have home equity loans or HELOCs on the mind, saying they may take one out in the next twelve months. That’s according to a MeridianLink survey of about 1,500 homeowners. MeridianLink…

When Is It Time To Refinance?
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When Is It Time To Refinance?

By NICOLE MURRAY “Marry the house, date the rate” seemed like a reasonable homebuying strategy when economists were predicting mortgage rates would drop in 2024 and beyond. But now, looking into 2025, it seems like higher rates are here to stay. The economic research team at Realtor.com says mortgage rates will average 6.3% across 2025…

Rocket Expands Home Equity Loan Options

Rocket Expands Home Equity Loan Options

By KIMBERLEY HAAS Rocket Mortgage has launched new 15- and 30-year home equity loan options and the executive vice president at Rocket Pro TPO says brokers can use them to help clients who need cash. The new terms complement Rocket’s existing 10- and 20-year options and Mike Fawaz said in an interview with The Mortgage…

Figure Makes Piggyback HELOC Available Nationwide

Figure Makes Piggyback HELOC Available Nationwide

With home equity products soaring in popularity, Figure Technology launched its Piggyback HELOC platform nationwide. The Piggyback HELOC is designed to provide homebuyers with easy access to lower down payments while avoiding the cost of mortgage insurance or high jumbo loan rates. A piggyback loan is a secondary loan that buyers borrow in addition to…

Half Of Homeowners Are Equity-Rich Again

Half Of Homeowners Are Equity-Rich Again

Nearly half of mortgaged homeowners are equity-rich again as home prices soared in the second quarter of 2024. New data from ATTOM found that 49.2% of mortgaged residential properties were considered equity-rich in Q2, up from 45.8% in Q1. This matches a record high from the spring of 2023 and is the first increase after…

PrimeLending Launches New Home Equity Loan Product

PrimeLending Launches New Home Equity Loan Product

PrimeLending introduced a new home equity loan product that allows Americans to combat inflation and high credit card debt with the value stored in their homes. Borrowers can convert home equity into cash, which they can use for anything, including managing finances, covering expenses, and consolidating high-interest debt. Homeowners can access a portion of their…

Newfi Launches Shared Appreciation Mortgage, EquityChoice

Newfi Launches Shared Appreciation Mortgage, EquityChoice

Wholesale Non-QM lender Newfi Lending announced EquityChoice, a new type of shared appreciation mortgage. The product comes in response to record-high equity amassed by Americans since the pandemic housing boom. High rates are keeping that equity stored away, as many homeowners are reluctant to tap into it through traditional financing options. EquityChoice gives homeowners access…

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