Homepoint Makes Fast-Funding Home Equity Credit Lines Available Through Mortgage Brokers

HELOC positions brokers as a key support system for homeowners

Ann Arbor, Michigan, November 7, 2022 /PRNewswire/ — Homepoint, one of the largest wholesale mortgage lenders in the U.S., today announced that 38 states and washington dc, available through our network of mortgage broker partners. The company plans to expand the list of states covered by his HELOC in the coming months.

Homepoint HELOC is essentially a 100% digital lending platform experience from application to closing, with minimal income and asset documentation uploads. Depending on the borrower’s credit profile, Homepoint may provide same-day approval and he may be able to fund the HELOC within 5 business days of final approval.

“This new home equity credit line is another way we aim to put mortgage brokers at the forefront of consumers’ minds when it comes to home affordability and maximizing home value. .” Phil Shoemaker, President of Home Point Origination. “Brokers are more than their title suggests. They have a real ability to act as stewards to strengthen their overall financial health. By helping people achieve their goals, we build stronger relationships within our communities.”

A Homepoint HELOC is a separate line of credit with a fixed interest rate and margin determined by each draw calculated using a specified index. Our HELOC product offering allows independent loan originators to use the home equity available to their customers to pay down debt, fund home improvement projects, or make other monthly payments more affordable. We provide tools to help you manage

Homepoint’s HELOC products make it accessible to eligible renters $20,000 To $400,000 Maintain at least 15% of your home assets as a line of credit with terms of either 5, 10, 15, or 30 years and 2-5 year debit terms. No prepayment penalty. It can be used not only for properties exclusively for owners of detached houses, but also for detached second houses and investment properties.

About Home Point

Homepoint Capital Inc. (NASDAQ: HMPT) is one of America’s leading mortgage originators, putting people at the center of their homebuying and homeownership experience. By providing long-term value beyond loans, the company supports homeownership success as a key component of broader financial security and well-being. Founded in 2015 and headquartered in Ann Arbor, MichiganHomepoint works with a national network of more than 8,700 mortgage brokerage partners who have deep knowledge and expertise of the communities and customers they serve.

Home Point Financial Corporation d/b/a Homepoint. NMLS No. 7706 (visit nmlsconsumeraccess.org for license information). Home Point Financial Corporation does not do business in KY, LA, NY or WY under the name “Homepoint”. In these states, the company does business under its full legal name, Home Point Financial Corporation. 2211 Old Earhart Road, Suite 250, Ann Arbor, Michigan 48105. Toll Free Phone: 888-616-6866.

Media contact:

Brad Pettiford
Public Relations Manager
(734) 356-3092
[email protected]

SOURCE home point

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