Long Beach, CA (PRWEB) March 15, 2014
“Homebuyers and Homeowners are taking advantage of the comeback of piggyback home loan mortgage options in California. A second mortgage taken out at the same time as a first mortgage, either when refinancing or buying a new home, is called a piggyback loan,” says Scott Schang, Branch Manager of Broadview Mortgage Long Beach.
Some credit unions and big banks offer a Home Equity Line Of Credit (HELOC) up to 80% CLTV (combined loan to value) or more, and the qualifying guidelines are very conservative adds Schang.
There are numerous opportunities and scenarios of a HELOC mortgage that is now available through mortgage bankers like Broadview Mortgage, as well as other eligible California brokers.
Allowing up to an 89.99% Combined Loan to Value (CLTV), HELOC loans can unlock previously unavailable money saving options for buyers and owners.