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Target Segment and Uses for EquityChoice

6-9 million homeowners* meet general EquityChoice criteria, many of which may already be your customers!

Customers EquityChoice Can Help

  • Responsible homeowners that take pride in ownership
  • Have built-up equity of 50%+ in home
  • Solid credit & savings profile (680+ FICO)
  • Long-term needs/investment plans,
  • Value preserving monthly income & cash flow short-term for long-term benefits

Not A Good Fit

  • New home buyers (we require principle residence for at least 2 years)
  • Homeowners without 50% equity
  • Homeowners without a mortgage
  • Short-term real estate investor/flippers
  • Higher risk, overextended homeowner
  • Non-savers, lack liquid reserves
  • Need ”short-term” funds quickly

Flexible Eligibility Criteria

  • Available in AZ, CA, and CO
  • Primary residence for minimum of 2 years
  • Single family and detached PUDs
  • Home value must be at least $550,000
  • Loan proceeds between $85k – $500K
  • Minimum 680 FICO
  • No bankruptcies, foreclosures, or short sales in past 7 years
  • Must have a 1st Mortgage and cannot be a neg amortizing, share appreciation, construction loan, or balloon payment loan.

While the above is not a commitment to lend and is subject to change, it demonstrates the minimum criteria when you are ready to apply for an EquityChoice loan.

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