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A closed-end, fixed rate home equity loan is excellent for home improvement or debt consolidation. You can borrow up to 100 percent of the appraised value of your home, less the balance of your first mortgage.
Information Requested at Application
New monthly mortgage payment plus all other mortgage & installment loan payments should not exceed 43% of stable gross income of $40,000.00 or more. Ratio will be different on lower income. (Income before Federal, State & FICA deductions). Real Estate must be located in the state of Oklahoma & meet TFCU’s guidelines.
PMI = Private Mortgage Insurance
LTV = Loan-to-value ratio
ARM = Adjustable-rate mortgage
e = These are estimates only