Use our EquitySelect tool to easily calculate and present loan scenarios, helping your clients make informed decisions.
| EquitySelect Payment Option Plans | |||||
|---|---|---|---|---|---|
| 1% | 2% | 3% | 4% | 5% | |
| Maximum Loan To Value (LTV) | - | - | - | - | - |
| Maximum HELOC at closing | - | - | - | - | - |
| Max. Initial Disbursement Amount Represents 90% of your total approved credit limit. This means you can access up to 90% of your available funds at closing, with the remaining balance accessible after closing. | - | - | - | - | - |
| Payoff Current Mortgage | - | - | - | - | - |
| Closing Costs This is a placeholder estimate and does not reflect actual closing costs, which vary by state and loan details. Your final closing costs will be determined during the loan process. | - | - | - | - | - |
| Cash Available at Closing | - | - | - | - | - |
| Cash at Close | - | - | - | - | - |
| Starting Loan Balance $75,000 or 50% of the max line of credit, whichever is greater. | - | - | - | - | - |
| Post Close LOC | - | - | - | - | - |
| (If net loan balance is a negative, the option will not work) | |||||
| Est. Initial Monthly Payment (Based on starting loan balance) | - | - | - | - | - |
| Est. Capped Minimum Monthly Payment
The Estimated Minimum Payment Cap shown on your quote is based on today’s rates and your projected loan balance. It reflects the maximum minimum monthly payment you could be required to make over the life of the loan — even if rates rise in the future.
Important: This cap is not your starting payment, and it may not be the amount you actually pay each month. It simply shows the highest your required minimum payment can ever go, based on current projections. Your actual payment each month will still depend on your current balance and chosen payment option, but it can never exceed this cap. This cap is built into your loan for your protection, so you always know the maximum required monthly amount — giving you more control, predictability, and peace of mind when budgeting. |
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Corporate Headquarters
HighTechLending Inc, doing business as American Senior Lending is an Equal Housing Lender, NMLS ID #7147 (www.nmlsconsumeraccess.org).
2030 Main Street, Suite #500, Irvine, CA 92614.
DISCLAIMER:
HighTechLending, Inc. is an Equal Opportunity Lender, acting under the following trade names: American Senior and American Senior Lending. NMLS: #7147, 2030 Main Street, Suite #500, Irvine, CA 92614. AZ Mortgage Banker License # 0912577; Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act, License #4130937; CO Mortgage Company Registration – Regulated by the Division of Real Estate; FL Mortgage Lender Servicer License #MLD1409; OR Mortgage Lending License #ML-4386 and Servicer License #MS-139; UT Residential First Mortgage Notification and Mortgage Entity License #8874117.
Equity Select is a home equity line of credit which gives the option for the borrower to make monthly payments that are less than the interest accrued. If the monthly payment does not cover the monthly interest due, any deficiency will be added to the loan balance which will result in a balloon payment when the loan term ends or when paid off, if earlier. Equity Select is a home equity line of credit requiring a minimum initial draw of 50% of the line of credit or $75,000, whichever is greater, with a 7-year draw period. The borrower cannot withdraw funds after the draw period ends.
**FOR PROFESSIONAL USE ONLY** This is a business to business communication and is intended for industry professionals only. THIS WEBSITE IS NOT DIRECTED AT CONSUMERS.