Property investment credit lines can come in the form of Home Equity Lines of Credit (HELOCs)
HELOCs are the most common examples of secured LOCs. They are secured by the market value of the homes in question minus any amount owed. This becomes the basis for determining the line of credit’s size.
It is usual for the credit limit to be equal to between 75% of a home’s market value, minus what is still owed on the mortgage.
There is commonly a draw period of HELOC. During this draw period, the borrower can get access to the available funds. The borrower can then repay the funds and borrow them again.
When the draw period comes to an end the balance is due, or the loan can be extended so the borrower can pay off any balance over time.
HELOCs often come with closing costs. These include the cost of appraising the property that has been used as collateral.
Funding11 property investment credit line features:
- No early repayment fee
- No funds non-utilisation fee
- Use funds to buy properties from auction
- Use funds for development purposes
- Capital Repayment and interest-only options
- We can use Residential or Buy to Let security
- We can use desktop valuation instead of physical valuation
- Funds can be drawdown with as little as 3-hour notice
Have Any Questions Regarding Our Property Investment Credit Line?
Call us or you can apply online we aim to provide you with an approval within 1-2 business days.
You can borrow from £25,000 – £1 Million.
We offer a maximum term of 3 years for the facility to be used a line of credit.
No, there is no non-utilisation fee if you don’t use the funds from the facility you don’t get charged.
No, final approval is based on the overall health of your business but if you have any CCJ or Default than you might get declined.
No, we do not charge any upfront fee.