Arcstone Financial Home Equity Lines of Credit

Arcstone Financial Home Equity Lines of Credit Review

Arcstone Financial Home Equity Lines of Credit is offered by Arcstone Financial (NMLS #344236), a direct lender founded in 2004 and based in Los Angeles, CA. Arcstone Financial Home Equity Lines of Credit are available in 5 states across the USA.

Arcstone Financial Home Equity Lines of Credit FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit that are secured by your home. Once you get approved for a certain amount, you can access your funds by check, phone, credit card, or online up to your HELOC amount.

Arcstone Financial Home Equity Lines of Credit allows borrowers to apply for lines of credit of up to $500,000. Note that the maximum loan amount you can borrow will vary depending on the value of the property, how much you owe on it, and your creditworthiness.

This lender's maximum loan to value rate is 89.99% for qualified borrowers. That means the total debt secured by the property cannot exceed 89.99% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have excellent credit, you may qualify for a line of credit of up to $69.99k.

What are the terms for a Arcstone Financial Home Equity Lines of Credit?

HELOCs have a draw and a repayment period. During the draw period you can borrow as much as you need up to your credit limit. After the draw period, you are responsible for repaying the loan. 

Arcstone Financial Home Equity Lines of Credit offers home equity loans with terms ranging from 30 to 40 years.

Is there a minimum draw requirement?

Yes, there is a minimum draw requirement of $0. Arcstone Financial Home Equity Lines of Credit also requires borrowers to have a minimum average balance of $0 to avoid penalty fees.

What range of rates does Arcstone Financial Home Equity Lines of Credit offer?

Arcstone Financial Home Equity Lines of Credit offers APRs as low as 7.5% and up to 12.5%.

Remember the APRs of HELOCs do not include points and financing charges, just the interest rate. Most home equity lines of credit have a variable interest rate. Fixed interest rates -- if available -- typically have higher APRs, but your monthly payments don't change over the life of the line of credit.

What is the estimated funding time for a home loan via Arcstone Financial Home Equity Lines of Credit?

Arcstone Financial Home Equity Lines of Credit will typically fund home equity lines of credit in as few as 7 days of approval.

What fees does Arcstone Financial Home Equity Lines of Credit charge for a HELOC?

The good news is Arcstone Financial Inc. does not charge closing costs or processing fees.

Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

What types of property can you use as security for a HELOC with Arcstone Financial Home Equity Lines of Credit?

Lenders often have restrictions on the type of properties they will accept as security for a HELOC. Arcstone Financial Home Equity Lines of Credit will consider lines of credit secured by the following property types:

• Primary homes.
• Secondary homes and vacation properties