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.
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