Loan Factory Direct - Figure HELOC

Address: 650 South Tryon Street, Charlotte, NC 28202

Figure.com/leadportal

Internal Reviews

(0 reviews)

Total loans closed with Loan Factory
158

Total loans closed with Loan Factory (past 12 months)
23

Lender overview

QM Program

N/A

Loss Payee

Figure Lending LLC ISAOA/ATIMA P.O. Box 2095 Carmel, IN 46082

CPL or Subordinate Clause

Figure Lending LLC ISAOA/ATIMA P.O. Box 2095 Carmel, IN 46082

Lock Policies

Lock extension

N/A

Relock

N/A

Lock & Shop

Lender's Niche

Digital HELOC

White-labeled the Figure HELOC product, now be able to offer solutions for:

Custom LO Consumer Facing Referral Link
Increased loan amounts up to $750,000 (Please note any loan amount over $400,000 will require an appraisal)
Piggyback loans up to 90% CLTV on both purchase and refinance transactions up to 800k. This means for anyone in a high-balance or jumbo loan scenario, you can now split the loan into two with the piggyback option.
More options for rate buy-downs, empowering your borrowers to qualify for higher HELOC amounts and secure lower rates
Payoff existing liens and debt to qualify

2.00% COMP ON HELOC's **HELOC for homes listed for sale* (commission is 50bps-No EPO)

Primary down to 640, Investment 680 Fico. 1st, 2nd, 3rd Liens & Piggyback 2nd's

5 DAY FAST FUNDING
NO APPRAISAL, NO TITLE, NO LENDER FEES, ONLINE NOTARY CLOSINGS* HELOC'S OVER 400K NEED APPRAISAL NEW LOAN LIMIT 750K
EARN 2% DOING HELOCS THROUGH FIGURE WITH FINTECH NO DOC EXCEPT INCOME.
NO PPP, 100% DISTURBUTION AT CLOSING W REDRAW OPTION *EPO on HELOC if borrower pays 90% of HELOC in first 4 months. NO EPO on Properties Listed For Sale
10, 15, 20, 30 YEAR FIXED RATE OPTIONS. FULLY AMORTIZED FROM DAY 1 (P&I Payment - No I/O)

SIMPLY 1 PAGE APPLICATION, FREE SOFTPULL, AVM
AVAILABLE FOR PRIMARY, SECOND HOMES, INVESTMENT & HOMES LISTED FOR SALE 1-4 UNITS, CONDO, PUDS
1ST, 2ND AND 3RD LIEN AVAILABLE
Piggy Back loans up to 90%CLTV up to 800k Loan Amounts available on Primary, Secondary and Investment Property(85%CLTV)
Use higher credit score borrower on community property states.
90 days on title, clos in individual name or Trust
Redraws available depending on loan term. 3 year on 10 year, 4 years on 15, 20 year, 5 year on 30 year terms.
Asset accounts can supplement income(retirement accounts, Brokerage, Savings & CD's)

Lender's overlays

Available in Texas for primary properties only

There are 14 states where spousal income cannot be used even if the spouse is on the title: CT, DE, GA, HI, IN, ME, MD, MA, NY, OR, PA, RI, UT, VA

Initial underwrite (days)

CTC conditions review (days)

Initial CD (days)

Review - Loan Factory Direct - Figure HELOC

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