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Loan Products
At Unifund, our loan products are designed to fit the needs of your borrower’s specific situation. Our loan programs range from a Traditional Home Equity Line of Credit Program (“HELOC”) to our Hybrid HELOC program.
Traditional HELOC Program
The primary loan product we offer our brokers for their borrowers is an open-ended HELOC. We offer our HELOC as either a first or second mortgage. The benefits to providing your borrowers with a Unifund HELOC include but are not limited to:
- The option for your borrower to keep their low interest rate first mortgage
- No pre-payment penalties are assessed with a Unifund HELOC
- Borrowers only pay what they draw upon on their HELOC
- Unifund does not report late payments to credit bureaus
Hybrid HELOC Program
In addition to our traditional HELOC, Unifund offers a Hybrid HELOC loan product for qualified borrowers. Our Hybrid HELOC will provide your borrowers with the option to make a minimum interest payment or a full interest payment. Thus, your borrowers will have the potential to minimize their mortgage payments, maximize their cash flow and get their credit on track.
