There are at least 2 different types of home equity 1st mortgages out there. Does anyone know what they are?Author: admin // Category: wholesale mortgage
I am looking for a 1st mortgages heloc. I know that Macquire Mortgage is one but I don’t know the other.
The product I am looking for is fairly new. It is a 1st mortgage HELOC. It is a loan just like a 30yr. mortgage that most people use to purchase their house. The difference is that it is a heloc which you use for the mortgage. Most helocs take advantage of the equity in your house, however, this product is what you use to originally purchase the house. I can think of one which is offered by Macquaire Mortgage called the Assest Manager. However, I know there is at least one more I just cannot remember the name of the company. Does anyone know the company or ever heard of this type of loan?
I don’t really understand your question. If your house is otherwise unliened, then by definition any HELOC you place on the property is a first. Most of our wholesale HELOC providers will gladly extend a HELOC on an unliened property.
Are you just looking for names of HELOC providers?