![]() You are NOT required to use Achieve Loans for a home equity line of credit. Where permitted by applicable state law, Achieve Loans charges: 1) an origination fee of 2.50%, and 2) an underwriting fee of $685. Because of this relationship, your referral to Achieve Loans may provide Freedom Financial Network, LLC a financial or other benefit. FFNF also owns 99% of Lendage, LLC (“Achieve Loans”). Contact Achieve Loans for further details.Īffiliated Business Arrangement Disclosure:Freedom Financial Network, LLC is a wholly-owned subsidiary of Freedom Financial Network Funding, LLC (“FFNF”). You must pledge your home as collateral and could lose your home if you fail to repay. Property insurance is required and flood insurance may be required if the subject property is located in a flood zone. ![]() Property must be owner-occupied and combined loan to value may not exceed 80%, including the new loan request. Average funding time is between 15 to 18 days from submitted application and documentation. Closing fees range from $750 to $6,685, depending on line amount and state law requirements and typically include origination (2.5% of line amount) and underwriting ($685) fees if allowed by law. Payments are fully amortized during each period and determined on the outstanding principal balance each month. Example: average HELOC is $57,150 with an APR of 12.75% and estimated monthly payment of $951 for a 15-year loan. Fixed rate APRs range from 10.25% - 16.00% and are assigned based on underwriting requirements and automatic payment enrollment (autopay enrollment is not a condition of loan approval). Minimum 600 credit score applies for debt consolidation requests, minimum 670 applies to cash out requests. Line amounts are between $15,000 and $150,000 and are assigned based on debt-to-income and loan to home value. Loans are not available to residents of all states and available loan terms/fees may vary by state where offered. Product terms are subject to change at any time. All loan requests are subject to eligibility requirements, application review, loan amount, loan term and lender approval. Home equity loans are available through our affiliate Achieve Loans (NMLS ID #1810501), Equal Housing Lender. Business hours are Monday-Friday 6am-8pm MST, and Saturday-Sunday 7am-4pm MST. Same day decisions assume a completed application with all required supporting documentation submitted early enough on a day that our offices are open. *Funding time periods are estimates and can vary for each loan request. Average interest savings for personal loans range from 0% - 6% based on closed loans that qualified for one or more of our rate discounts in July 2022. Adding a co-borrower with sufficient income using at least eighty-five percent (85%) of the loan proceeds to pay off qualifying existing debt directly or showing proof of sufficient retirement savings, could help you also qualify for a lower rate. Loan origination fees vary from 1.99% to 6.99%. To qualify for a 7.99% APR loan, a borrower will need excellent credit, a loan amount of $12,000.00 or less, and a term of 24 months. For example: A four-year $20,000 loan with an APR of 18.34% would have an estimated monthly payment of $561.60 and total cost of $26,956.80. Repayment periods range from 24 to 60 months. APRs range from 7.99 to 29.99% and include applicable origination fees. Loan amounts generally range from $5,000 to $50,000 (including the origination fee) and are offered based on underwriting conditions and loan purpose. Minimum loan amounts vary due to state specific legal restrictions. Loans are not available to residents of all states. All loan and rate terms are subject to eligibility restrictions, application review, credit score, loan amount, loan term, lender approval, credit usage and history. Personal loans are available through our affiliate Achieve Personal Loans (NMLS ID #227977), Equal Housing Lender, originated by Cross River Bank, a New Jersey State Chartered Commercial Bank or Pathward, N.A., Equal Housing Lenders and may not be available in all states. ![]()
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