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Angel Oak Mortgage Solutions taps into HELOCs

Atlanta-based nonqualified mortgage (non-QM) lender Angel Oak Mortgage Solutions is tapping into the home equity line of credit (HELOC) market amid elevated equity levels. 

Unlike traditional HELOCs that require a homeowner to have at least 20% equity in their home, Angel Oak’s HELOC qualifies borrowers based on trailing 12- or 24-month bank statements and provides a line of credit with no usage restrictions, the lender said.

Angel Oak’s bank-statement HELOC allows qualified, self-employed borrowers to leverage their home equity while maintaining their primary mortgage. Borrowers can qualify for this loan details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com