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Last Updated: 04/18/2025

Bayway Mortgage Group HELOC

in Home Equity Lines of Credit from Bayway Mortgage Group

Last Updated: 04/18/2025

Rating not yet determined1 total votes

1 users recommend

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Highlights

Credit Score Range

680 - 850

Amount Range

$3,000 - $250,000

Maximum LTV

N/A

Minimum Draw

N/A

Loan Term (Years)

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 are available in 3 states.

Key Takeaways

Good credit required. You will need a credit score of at least 680 to qualify.
No primary residences considered. Bayway Mortgage Group HELOC does not offer financing for primary homes.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.

Bayway Mortgage Group HELOC Pros & Cons

Pros

Cons

Charges an origination fee.
Only considers applicants with good credit.
Charges prepayment fees.
No co-sign option available.
Only available in 3 states.

Bayway Mortgage Group HELOC FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit secured by your home. Once approved, you can access funds by check, phone, credit card, or online up to your credit limit.

Borrowers can apply for lines of credit of up to $250,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.

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

What are the terms for Bayway Mortgage Group HELOC?

HELOCs include a draw period followed by a repayment period. During the draw period, borrowers can access funds as needed up to the credit limit.

Bayway Mortgage Group HELOC offers a draw period of up to 20 years

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

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

Bayway Mortgage Group HELOC may charge an 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

Headquarters

8833 Perimeter Park Blvd.

Suite 402

Jacksonville, FL 32216

(855) 399-0644

Visit Site

Email Support

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

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SuperMoney Net Recommendation Score

Not enough SuperMoney users have reviewed this product to provide a recommendation score or rating.

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The recommendation score reflects customer satisfaction with a provider. A score of +100 means every customer recommends the provider, while -100 means none of them do. These scores are based entirely on community member votes and are not influenced by partner compensation. SuperMoney removes fake reviews when detected.

Bayway Mortgage Group HELOC Community Reviews

Would you recommend Bayway Mortgage Group HELOC to your friends?

Lillith O.

Feb 24, 2021

May or may not recommend

I love the experience you get when you're talking to them. There is a level of high professionalism and they answer all of your questions. They are here to help you. You only need a credit score of 680 to 850. That is pretty standard. Depending on your situation, you can get anywhere from $3,000 to $250,000. There is no minimum draw requirement. You should put them under your list ...Show More

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