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The “5 Day HELOC” (apply in under 5 minutes and get funding in 5 days OR LESS!)

The “5 Day HELOC” (apply in under 5 minutes and get funding in 5 days OR LESS!)

Introduction

Alright, so today’s topic is the 5 Day HELOC. We want to cover what it is, guidelines, the process, and why it matters to you as a real estate agent. This program can help you with your business without needing to do more real estate transactions. We’ll explain how you can increase your revenue without listing more houses or writing more contracts for buyers.

Features and Benefits

Quick and Easy Application

The 5 Day HELOC has a very quick and easy application process. It’s all online and completely automated. You can complete your application in five minutes or less. Based on feedback from applicants, this is quite accurate.

Accessing Home Equity

This HELOC allows clients to tap into their home equity without giving up their low mortgage rate. Clients who refinanced 18 to 30 months ago locked in a super low rate and likely have more equity now. They can use this equity for renovations, paying off consumer debt, real estate investments, and more.

Loan Amount and Terms

Clients can get up to $400,000 with terms of 5, 10, 15, or 30 years. Funding happens in five days or less from a complete application. This means clients could potentially have funding before Christmas.

Standalone HELOC

This is a standalone HELOC that can be in first, second, or third lien position. The rates are generally lower than personal loans or credit cards, making it a viable option for many clients.

Application Process

The application is 100% online with a soft credit pull, meaning it won’t affect credit scores. Interested clients can see the application process at josh.com HELOC or Josh vps.com heelo.

Program Details

Requirements and Guidelines

The minimum credit score for this HELOC is 640. There are no minimum loan amounts, but the maximum amounts depend on the property type and credit score. The maximum loan for a primary residence is $400,000, while it’s $200,000 for non-owner occupied properties.

Credit Score and Loan Amount

The loan amount and maximum CLTV (Combined Loan-to-Value) depend on the credit score and property type. For example, clients with a 760 credit score can get up to 85% CLTV.

Income Verification and DTI

Applicants relying on employment income will need to verify their income. Retired applicants do not require income verification. The Debt-to-Income (DTI) ratio must be less than 50%.

Additional Options

Alternatives for Declined Applicants

Even if an applicant is declined for the 5 Day HELOC, we follow up to explore other solutions. For example, an applicant with a low credit score might qualify for an FHA loan instead.

Other Programs

We have many other options and programs for clients who don’t fit the 5 Day HELOC criteria. These include FHA loans, DSCR loans, and various second mortgage products.

Example Scenarios

Jordan shared an example where a client was declined for the HELOC but qualified for an FHA loan. Another example involved a client needing funds for investment property renovations, which could be addressed with a DSCR loan.

Commercial Properties

This program does not cover commercial properties, but we have many other funding options for commercial needs. Depending on the situation, we can explore different avenues for commercial funding.

Contact Information and Next Steps

If you’re interested in the 5 Day HELOC, you can see the application process at josh.com HELOC or Josh vps.com heelo. You can also scan the QR codes provided during the presentation for more information.

Dual License Program

For real estate agents, consider our Dual License Program. This allows you to earn mortgage revenue without doing more real estate transactions. Scan the QR code or visit wake up.realestate relo for more information.

Conclusion

The 5 Day HELOC is a quick and easy way for clients to tap into their home equity without giving up their low mortgage rate. With funding available in five days or less, this program offers a convenient solution for various financial needs.

Call to Action

If you’re a real estate agent or someone interested in exploring the 5 Day HELOC or Dual License Program, don’t hesitate to reach out. Visit our website, scan the QR codes, or contact us directly to learn more and start increasing your revenue today!



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