Line up up to three lenders on draw period, fees, minimum credit and state availability. Your entries stay in this browser only.
Optional. We use these to flag lenders that may not fit. Get your CLTV from the calculator.
| Item | |||
|---|---|---|---|
| Draw period and repayment | |||
| Draw periodHow long you can borrow. Commonly 5 to 10 years. | years | years | years |
| Repayment periodHow long you pay back principal and interest. Commonly 10 to 20 years. | years | years | years |
| Interest-only payments during the draw period? | |||
| Minimum draw at closing | $ | $ | $ |
| Rate | |||
| Introductory rate and how long it lasts | |||
| Index and margin | |||
| Lifetime rate cap | |||
| Can you lock part of the balance at a fixed rate? | |||
| Fees | |||
| Origination or application fee | $ | $ | $ |
| Appraisal | $ | $ | $ |
| Other closing costs | $ | $ | $ |
| Annual fee | $/yr | $/yr | $/yr |
| Inactivity fee | |||
| Early closure fee and how long it applies | |||
| Minimum credit and limits | |||
| Minimum credit score | |||
| Maximum combined LTV | % | % | % |
| Minimum line | $ | $ | $ |
| Maximum line | $ | $ | $ |
| State and property availability | |||
| Lends in your state? | |||
| Accepts your property type? (primary, second home, rental) | |||
| What it adds up to | |||
| Upfront costsApplication, appraisal and other closing costs | – | – | – |
| First-year costUpfront costs plus the annual fee | – | – | – |
| First-year cost as a share of your lineNeeds the line you want, above | – | – | – |
Flags are a quick screen, not a decision. Only the lender can confirm what you qualify for.
This checklist is for education only and is not an offer of credit. Terms, fees and availability are set by each lender and can change. We are not a lender, broker or financial advisor. See our advertiser disclosure.
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