240: New 1st Lien HELOC (All-In-One Loan) with Caeli Ridge

More people are renting. The homeownership rate has declined to 64%, from 69% in 2005. 

Credit score “inflation” has occurred due scoring model changes and a strong economy.

The average FICO score is now 704, a record high.

GDP in Q1 grew 3.2% year-over-year, exceeding expectations.

A new program called the Home Select Loan (All-In-One Loan) operates similar to a 1st Lien HELOC.

Ridge Lending Group President Caeli Ridge & I discuss the details:

• Line Of Credit for 30 years
• 80% LTV on home, 70-75% LTV on investment property
• No principal payments due for ten years
• Potential interest savings
• Better liquidity
• Interest rate based on LIBOR + a margin

Use the simulator to see how much interest you save vs. your current mortgage.

I bring you today’s show from Dallas, TX.

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