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Home Equity Loans (HELoans) in Tiburon
Tiburon homeowners sit on substantial equity. Properties here appreciate faster than most Bay Area markets.
HELoans let you tap that equity at fixed rates. No need to refinance your existing low-rate first mortgage.
Most Tiburon borrowers use these for home improvements or investment properties. The waterfront renovation ROI here justifies the cost.
Unlike HELOCs, you get one lump sum upfront. Rates stay locked for the full term—usually 10 to 30 years.
You need at least 15-20% equity after the HELoan. Most Tiburon properties easily clear that threshold.
Lenders cap combined loan-to-value at 80-85%. If you owe $800k on a $2M home, you could access $400k-$500k.
Credit requirements start at 620, but higher scores unlock better rates. Income verification follows standard mortgage rules.
Debt-to-income ratios matter. Lenders add your new HELoan payment to existing obligations—keep total DTI under 43%.
Not all lenders handle Tiburon's high home values equally. Some cap HELoans at $500k regardless of your equity position.
Portfolio lenders often work better here than big banks. They underwrite million-dollar properties without blanching at the numbers.
Appraisals take longer in Tiburon. Unique waterfront comps mean 2-3 weeks instead of the typical 10 days.
Rate shopping matters more on large loan amounts. A quarter-point difference costs real money on a $400k HELoan.
We see Tiburon clients choose HELoans over HELOCs when they need certainty. Fixed payments matter more than flexibility at this price point.
Timing matters. Apply before starting construction—lenders want to fund finished projects, not active job sites.
Tax deductions apply if you use funds for home improvements. Keep receipts. Your CPA will thank you.
Second lien subordination causes headaches later. If you refinance your first mortgage, the HELoan holder must agree to stay in second position.
HELOCs offer draw flexibility but variable rates. HELoans lock your rate but give you everything upfront—choose based on how you'll use the money.
Cash-out refinancing replaces your first mortgage. That makes zero sense if you're sitting on a 3% rate from 2021.
Equity appreciation loans work for borrowers who want shared appreciation instead of monthly payments. Rare in Tiburon but worth considering.
Reverse mortgages serve 62+ homeowners who want income streams. Different goal than lump-sum HELoans entirely.
Marin County transfer taxes add cost when you sell. HELoans don't trigger transfer taxes—only sales do.
Tiburon building permits take months. Fund your HELoan before applying for permits to avoid appraisal complications.
Seismic retrofits and foundation work return less than kitchen remodels here. Prioritize projects that buyers actually notice.
Flood zone properties face extra insurance requirements. Lenders require proof before funding HELoans on waterfront homes.
Most lenders allow 80-85% combined LTV. On a $2M home with $800k owed, you could access $400k-$500k depending on credit and income.
HELoans give you a lump sum at closing with fixed rates. HELOCs work like credit cards with variable rates and flexible draws.
Expect 30-45 days. Tiburon appraisals take longer due to unique waterfront comparables and limited recent sales data.
Yes, if you use funds for home improvements. Keep all receipts and invoices—your CPA needs documentation for the deduction.
Your HELoan lender must subordinate to the new first mortgage. This process adds 2-3 weeks and sometimes costs $500-$1000.
Some lenders cap HELoans at $500k regardless of equity. Work with brokers who access portfolio lenders comfortable with million-dollar properties.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.