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. Our borrowers get their cash on average
in 26 days. The time period calculation to get cash is based on the first 6 months of
2022 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.
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.
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.4. By inputting your phone and clicking the "Check my rate" button, you authorize your wireless carrier to use or disclose
information about your account and your wireless device, if available, to us or our
service provider for the duration of your business relationship, solely to help them
identify you or your wireless device and to prevent fraud. Additionally, you authorize
Hitch and its service providers to obtain your name, address, email and Social Security
Number from Equifax in order to validate your identity and/or populate this form. See
our Privacy Policy for how we handle your data.
Hitch, Inc.2158 NW Toussaint DriveBend, Oregon 97703(833) 512-0284
