11325 Random Hills Rd. Suite 600
Fairfax, VA 22030
Phone: (571) 467-8901
akaim@fhmtg.com
This product is a home equity line of credit (HELOC) secured by a first lien on the borrower’s home and is not a traditional fixed-rate mortgage. The HELOC has a variable interest rate, which may increase or decrease over time. As a condition of the HELOC, the borrower is required to establish an associated checking account with the participating bank prior to closing. The checking account provides access to available funds under the HELOC.
Deposits made through the associated account may reduce the outstanding HELOC balance, while checks, withdrawals, transfers, and other transactions may increase the outstanding balance, subject to the terms and available credit under the HELOC. Interest is charged on the outstanding balance in accordance with the HELOC agreement. Approval is subject to credit, income, property, and other eligibility requirements. Rates, terms, credit limits, and program availability are subject to change. Property insurance is required. The associated checking account is provided and maintained by the participating bank and is subject to separate account terms and conditions. Additional terms, conditions, and restrictions apply.
