Robert McLister·General·November 12, 2007Merix HELOC Get’s Better Merix’s HELOC is one of the more popular readvanceable mortgages. Now Merix has improved it: Maximum loan-to-value has increased from 90 to 95%. It’s now easier to qualify with 40-year Ams. The mortgage segment can be split into multiple portions, each with their own term, rate type, and amortization. For example, you could have a $100,000 mortgage with four portions to hedge rate risk and maximize interest savings when you can’t afford a straight 25-year Am.: $20,000 5-year fixed with 25-year Am. $20,000 5-year variable with 30-year Am. $30,000 1-year fixed with 40-year Am. $30,000 3-year variable with 35-year Am. Since every dollar of principal you pay down is added to your available line of credit, Merix’s HELOC is well suited for: Self-employed borrowers that need a backup cash source Investors that need a readvanceable mortgage with a variable rate Anyone who wants the security of a line of credit for unexpected expenses, education costs, etc. Like news like this?Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime. SUBSCRIBE! Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.