Lien Priority and State Regulations:
Variable Rate HELOC• 1st Liens
- 1st Lien HELOC cannot be used for Purchase Transactions
• 2nd Liens
- Spring EQ must be in 2nd lien position at the time of closing
• 3rd liens or any subordinate lien following a Spring EQ lien are not permitted
• WHOLESALE:
- 2nd Lien- Available in all states except: AK, HI, ND, NY, SD, TN, TX, WV
- 1st Lien Available in all states except: AK, AR, DC, HI, IN, LA, MT, ND, NE, NM, NY, PA, SD, TN, TX, WV
Fixed Rate HELOC
• 1st Liens
- 1st Lien HELOC cannot be used for Purchase Transactions
• 2nd Liens
- Spring EQ must be in 2nd lien position at the time of closing
• 3rd liens or any subordinate lien following a Spring EQ lien are not permitted
• WHOLESALE:
- 2nd Lien- Available in all states except: AK, HI, ND, NY, SD, TN*, WV
* The 15-year term Fixed Rate HELOC is available in Tennessee
- 1st Lien Available in all states except: AK, AR, DC, HI, IN, LA, MT, ND, NE, NM, NY, PA, SD, TN*, WV
* The 15-year term Fixed Rate HELOC is available in Tennessee
HELOAN
• 2nd Lien Only
- Spring EQ must be in 2nd lien position at the time of closing
• 3rd liens or any subordinate lien following a Spring EQ lien are not permitted
• WHOLESALE- Available in all states except: AK, HI, ND, NY, SD, WV