What is a 100% home equity loan?

Its a second mortgage that allows you to borrow up to 100% value of your home. It’s generally tax deductible up to 100% of the value of your home. Loan terms can be as long as 30 years due in 15 or simply 15 years amortized.

Qualifications for 100 % home equity loans

FICO based program with minimum of 640 middle score required.
Ownership in the property 6 months to get a new appraised value.
No Bankruptcies and foreclosures in the last 2 years.
Documented income.
Why should I apply for a 100 % Second Loan?

Pay off credit cards,second loans,and other debt.
Lower your payments by hundreds of dollars each month, and make only one easy monthly payment.
Make home improvements, pay college tuition, or just take a vacation.
Tax deductions ( please consult your CPA)
What is the criteria for 100 % LTV Second Mortgage ?

FICO based program with 640 middle fico.
Stated income 680 middle fico score required
Some Cash Out restrictions
Loan amounts up to $200,000.
For A- Credit borrowers
Bankruptcy 2 years discharged.
Appraisal required for amounts above $35,000
Six months seasoning to get new appraised value.