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  Bayway Mortgage Group HELOC

Bayway Mortgage Group HELOC

in Home Equity Lines of Credit from Bayway Mortgage Group · NMLS ID #1057426

Unaffiliated

Bayway Mortgage Group HELOC

Unaffiliated

in Home Equity Lines of Credit from Bayway Mortgage Group · NMLS ID #1057426

Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

Rating not yet determined  

Loan Amount $3,000 - $250,000
APR  (Fixed APR) N/A
Maximum LTV N/A

Bayway Mortgage Group HELOC Review

Bayway Mortgage Group HELOC is offered by Bayway Mortgage Group (NMLS #1057426), a direct lender founded in 2004 and based in Jacksonville, FL. Bayway Mortgage Group HELOC is available in 3 states across the USA.

Bayway Mortgage Group HELOC 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.

Bayway Mortgage Group HELOC allows borrowers to apply for lines of credit of up to $250,000. 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.

Typically, borrowers with good credit can qualify for up to 85 percent of the value of the property less the balance on their first mortgage.

What are the terms for a Bayway Mortgage Group HELOC?

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. 

Bayway Mortgage Group HELOC offers home equity loans with a draw period of up to 20 years and a repayment period of 20 years.

Is there a minimum draw requirement?

No, there isn't a minimum draw requirement.

What fees does Bayway Mortgage Group HELOC charge for a HELOC?

Bayway Mortgage Group HELOC may charge a loan origination fee .

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Message From Bayway Mortgage Group HELOC

A Home Equity Line of Credit (HELOC) is a type of second mortgage that is actually a revolving credit line similar to that of a credit card. Because HELOCs are secured by your home, they commonly offer high credit limits, lower interest rates and the interest is tax deductible. 

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 5:00pm
  • Saturday Closed

Other Services by Bayway Mortgage Group

Availability

  Available in 3 states
  • Florida
  • Georgia
  • Texas

Feature Breakdown

Credit Score Range 680 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Age 18
Verification Documents Required
  • Government Issued Photo ID
  • Proof of Identity
  • Proof of Income
  • Proof of Residence
  • Social Security Number
  • U.S. Tax Identification Number
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Draw Period 20 years
Repayment Period 20 years
Loan Amount $3,000 - $250,000

Bayway Mortgage Group HELOC Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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