More Loan Options

A HELOC, or Home Equity Line of Credit, is a revolving line of credit that allows homeowners to borrow against the equity in their home. It works similarly to a credit card, where you can withdraw funds as needed, up to a certain limit, and only pay interest on the amount you use.

HELOCs typically have variable interest rates and can be used for various purposes, such as home improvements, debt consolidation, or other expenses. They usually have a draw period, during which you can borrow, followed by a repayment period where you pay back the borrowed amount.

MORE INFO ON HELOC’s
https://flower-hexagon-zalh.squarespace.com/resources#faq-2

Need funds fast?

Apply in 5 minutes

APPLICATION LINK

What is an AXEN figure HELOC?

The AXEN figure Home Equity Line of Credit (HELOC) is a flexible borrowing option that allows you to tap into the equity you've built in your home. Think of it as a credit card for your home equity!

A Home Equity Loan, also known as an equity loan, second mortgage, or "fixed-rate equity loan," allows homeowners to borrow money by leveraging the equity in their home. The loan amount is based on the difference between the homeowner's equity and the home's current market value. Typically, this type of loan provides a lump-sum payment to the borrower at a fixed interest rate, which means the monthly payments remain the same for the entire term of the loan. Home equity loans are ideal for those who need access to a sizable amount of money for large, one-time expenses like home renovations, medical bills, or consolidating high-interest debt.

A Debt Service Coverage Ratio (DSCR) loan is a financing option primarily designed for real estate investors. Here’s a breakdown of what it is and how it works:

Purpose: DSCR loans are tailored for investors purchasing or refinancing income-generating properties, such as rental homes or commercial real estate.

Qualification: Unlike traditional loans that focus on the borrower’s personal income, DSCR loans qualify borrowers based on the cash flow generated by the property itself.

Commercial loans are financing options specifically designed for businesses to fund various needs, such as purchasing real estate, acquiring equipment, or covering operational expenses. Unlike personal loans, commercial loans are tailored to meet the unique financial requirements of businesses.

Purpose: Commercial loans can be used for a variety of business purposes, including:

• Buying or refinancing commercial real estate (offices, retail spaces, warehouses).

• Purchasing equipment or machinery.

• Funding working capital for day-to-day operations.

• Expanding or renovating existing facilities.

There are several types of commercial loans, including:

• Term Loans: A lump sum borrowed for a specific period, typically with fixed or variable interest rates.

• SBA Loans: Loans backed by the Small Business Administration, offering favorable terms for small businesses.

• Lines of Credit: Flexible borrowing options that allow businesses to withdraw funds as needed, up to a certain limit.

• Commercial Mortgages: Loans specifically for purchasing or refinancing commercial properties.

Repayment Terms: Commercial loans usually have varying repayment terms, often ranging from a few years to several decades, depending on the loan type and lender.

Interest Rates: Interest rates can vary based on the loan type, the borrower’s creditworthiness, and market conditions. They may be fixed or variable.

A construction loan is a short-term, interim loan used for financing the cost of building a new home or real estate project. Unlike traditional mortgages, construction loans cover the expenses you incur as your home is being built. This type of loan has a higher interest rate than a conventional mortgage because it is considered riskier for the lender. The loan may allow interest-only payments during construction, with the full amount due upon completion of the home. A construction loan can be ideal if you are working with a builder or contractor to construct a new home and need flexible funding that matches the timeline of the construction stages.

We strive to demystify the construction loan process, providing the resources and expertise necessary to assist you. Our suite of tools begins with the Construction Loan Qualifier, designed to help you understand the borrowing and repayment structure associated with these types of loans. With our guidance, you can confidently finance your construction project, ensuring it progresses from blueprint to reality.

A 1-Time Close Construction loan is a financing option that allows you to build your dream home with a single loan that covers both the construction and the permanent mortgage. This means you only have to go through the loan process once!

Key Features:

1. Single Loan Process: You apply for one loan that covers the entire construction period and converts to a permanent mortgage once the home is completed. This simplifies the process and saves you time and money.

2. Fixed Interest Rate: The loan typically comes with a fixed interest rate, which means your monthly payments will remain stable throughout the life of the loan.

3. Construction Period: During the construction phase, you’ll only pay interest on the amount disbursed for the construction costs. This can help keep your initial payments lower.

4. Flexible Draw Schedule: Funds are released in stages as construction progresses, ensuring that you only pay for what you need at each phase of the build.

No Need for a Second Loan: Once construction is complete, the loan automatically converts to a permanent mortgage, eliminating the need for a second closing.

Non-QM loans, or Non-Qualified Mortgages, are a type of mortgage that does not meet the standard guidelines set by the Consumer Financial Protection Bureau (CFPB) for qualified mortgages. These loans are designed for borrowers who may not fit the traditional lending criteria. An excellent alternative for borrowers who need more flexibility in their mortgage options. They cater to a wide range of financial situations, allowing more people to achieve their homeownership dreams.

Flexible qualification criteria: This means that even if a borrower has a unique financial situation, such as self-employment or irregular income, they may still qualify for a loan.

Variety of loan types and access to financing: Non-QM loans provide access to financing for borrowers who may have been turned away by traditional lenders due to strict guidelines.

Tailored Solutions: These loans can be customized to fit the borrower’s unique financial situation, making them a great option for many.

LEARN MORE & APPLICATION LINK

Crypto Currency Loan with Figures Market

Borrow cash against your Bitcoin or Ethereum. Get same-day approval* and flexible payment options, no credit score needed. Available to U.S. and international customers.

How do crypto loans work? You can borrow up to 75% of the value of your crypto at a fixed interest rate between 12.5% - 15% , and your collateral is held by our qualified custodian and will never be rehypothecated. You have control over your collateral.

Figure Markets is a trusted lender. Figure Lending has originated $7B+ in funded loans, including crypto-backed loans, and has never lost coin assets or paused crypto withdrawals.

No credit score needed. Your eligibility for a crypto-backed loan is based solely on your crypto collateral, not your traditional credit score.

Competitive rates and flexible payment terms. Enjoy a competitive rate and choose to make monthly interest-only payments or defer interest payments until maturity. *Interest deferral may be subject to 1% deferral fee, depending on jurisdiction.

Down payment assistance programs are financial aid options designed to help homebuyers cover the upfront costs associated with purchasing a home, specifically the down payment. These programs can make homeownership more accessible, especially for first-time buyers or those with limited savings.

Types of Assistance:

Grants: Some programs offer grants that do not need to be repaid. These funds can be used directly for the down payment.

Loans: Other programs provide low-interest loans or deferred loans that must be repaid over time, often when the home is sold or refinanced.

Forgivable Loans: Some assistance comes in the form of loans that may be forgiven after a certain period, provided the homeowner meets specific conditions.

Eligibility: Eligibility for down payment assistance programs can vary based on factors such as:

Income limits: Many programs are designed for low to moderate-income households.

First-time homebuyer status: Some programs are specifically for first-time buyers, while others may be available to repeat buyers.

Property location: Assistance may be limited to specific areas or neighborhoods.

Application Process: To apply for down payment assistance, homebuyers typically need t

Complete an application through a participating lender or local housing agency.

Provide documentation of income, employment, and financial status.

Attend homebuyer education courses, which may be required by some programs.

What is the HOPER Solar Program?

The HOPER (Home Ownership Program for Energy Reduction) Solar program is designed to assist homebuyers in purchasing a home while also incorporating energy-efficient solutions, specifically solar panels. This program aims to make homeownership more accessible and financially sustainable by providing financial assistance and incentives.

Key Features:

1. Down Payment Assistance:

   • The program offers buyers 3.5% of the home purchase price (up to $13,000) as a down payment assistance. This amount can be used flexibly for various needs, not just the down payment.

2. Solar Panel Installation:

   • The program includes the installation of solar panels on the home. The costs of these solar systems can be added to the mortgage, allowing buyers to finance the installation without significant upfront costs.

3. Tax Credits:

   • Participants in the HOPER program can qualify for a 30% tax credit on the total cost of the solar panel installation. This tax credit can amount to approximately $10,000, providing significant savings during tax season.

4. Energy Assessment:

   • Before enrollment, an energy assessment is conducted to ensure that the home is suitable for solar installation and that it will effectively reduce electricity bills.

5. Education and Support:

   • Buyers are required to complete a home buying education class and agree to participate in post-home buying classes and surveys to ensure they are well-informed about homeownership and energy efficiency.

6. Availability:

   • The HOPER program is available in most states, although there may be some exceptions.

Benefits:

• Financial Assistance: The program helps reduce the financial burden of purchasing a home by providing down payment assistance and tax credits.

• Energy Savings: By installing solar panels, homeowners can significantly reduce their electricity bills, leading to long-term savings.

• Sustainable Living: The program promotes energy efficiency and sustainability, making it a great option for environmentally conscious buyers.

Conclusion:

The HOPER Solar program is an excellent opportunity for homebuyers looking to purchase a home while also investing in energy-efficient solutions. It provides financial assistance, tax credits, and educational resources to help buyers succeed in homeownership.

If you have any questions or need more details about the HOPER Solar program, feel free to ask! 😊🌞🏡