Hitch Logo

Learning Center

Explore our educational articles and insights to grow your knowledge.

The Importance of Mortgage Prequalification and Preapproval

Mortgage prequalification and preapproval are vital in home buying. Hitch can guide you through the process, giving you a competitive edge to confidently house hunt and make a successful offer on your dream home.

Your Comprehensive Guide to Home Buying: 10 Essential Steps You Should Know

Purchasing a home is a monumental decision, and understanding the home buying process is key to making it a successful venture.

Mastering the Art of Common Investing: A Path to Financial Success

Common investing, also known as stock market investing, offers a pathway to unlocking your financial potential.

Is it possible to use a home equity line of credit (HELOC) as a down payment?

While it's technically possible to use a home equity line of credit (HELOC) for a down payment on a home, it's generally not recommended. Find out why using a HELOC as a down payment can be risky and explore some alternative options

HELOCs vs. Personal Loans

Which is better depends on your financial situation.

What Is A Second Mortgage? Rates, Uses and More

A second mortgage is a loan that lets homeowners borrow against their property's equity.

HELOC Disclosure Requirements: What You Need to Know

HELOC disclosure requirements provide clear information about loan costs and terms, protecting borrowers and promoting fairness.

"Everything You Need to Know About Reverse Mortgages"

Hitch is a platform that can help you access your home equity through reverse mortgage loans. With Hitch, you can compare features from many lenders and get the best terms for your needs. It's an easy way to unlock the value of your home without breaking the bank.

How Much House Can You Afford?

Hitch helps you determine your home-buying budget with a personalized estimate based on your financial situation. With Hitch, you can focus on properties within your budget, saving you time and money. Sign up for free today and take the first step towards homeownership.

Escape to Paradise: A Guide to Buying Your Dream Vacation Home

Escape to Paradise: A Guide to Buying Your Dream Vacation Home

Equal Housing Lender
Hitch, Inc. 23833672158 NW Toussaint Drive. Bend, Oregon 97703

1. Qualified applicants may borrow up to 95% of their home’s value. This does not apply to investment properties.2. HELOCs have a 10-year draw period. During the draw period, the borrower is required to make monthly minimum payments, which will equal the greater of (a) $100; or (b) the total of all accrued finance charges and other charges for the monthly billing cycle. During the draw period, the monthly minimum payments may not reduce the outstanding principal balance. During the repayment period, the borrower is required to make monthly minimum payments, which will equal the greater of (a) $100; or (b) 1/240th of the outstanding balance at the end of the draw period, plus all accrued finance charges and other fees, charges, and costs.The lender will calculate this amount by taking the outstanding Account Balance on the last day of the draw period and dividing it by 240 months and then adding any finance charge that accrues but remains unpaid during the monthly billing cycle plus any other fees, charges and costs to the fixed principal payment that is due. During the repayment period, the monthly minimum payments may not, to the extent permitted by law, fully repay the principal balance outstanding on the HELOC. At the end of the repayment period, the borrower must pay any remaining outstanding balance in one full payment.3. The time it takes to get cash is measured from the time the Lending Partner receives all documents requested from the applicant and assumes the applicant’s stated income, property and title information provided in the loan application matches the requested documents and any supporting information. Most borrowers get their cash on average in 21 days. The time period calculation to get cash is based on the first 4 months of 2024 loan funding's, assumes the funds are wired, excludes weekends, and excludes the government-mandated disclosure waiting period. The amount of time it takes to get cash will vary depending on the applicant’s respective financial circumstances and the Lending Partner’s current volume of applications. Closing costs can vary from 3.0 - 5.0%. An appraisal may be required to be completed on the property in some instances.4. Not all borrowers will meet the requirements necessary to qualify. Rates and terms are subject to change based on market conditions and borrower eligibility. This offer is subject to verification of borrower qualifications, property evaluations, income verification and credit approval. This is not a commitment to lend.5. The content provided is presented for information purposes only. This is not a The content provided is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply.