Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
735,718-296
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.94%0.02
Mortgage

The Loan Store launches a fast-funding HELOC in multiple states

TLS is offer same-day approvals and HELOC funding in as little as three business days

Wholesale mortgage lender The Loan Store (TLS) announced on Thursday the roll-out of its new home equity line of credit (HELOC) product, which is currently available in 25 states and Washington, D.C.

The Loan Store’s HELOC product is a standalone, fixed-rate line of credit that allows borrowers to tap into the equity of their homes, with credit lines ranging from $25,000 to $400,000. These funds can be utilized to consolidate debts or finance home improvement projects.

The TLS HELOC has a fully online application process, underwriting system, and valuation model. This approach allows The Loan Store to offer same-day approvals and HELOC funding in as little as three business days after final approval.

Borrowers receive 100% disbursement of funds, with no costs due at closing.

“This fast-funding home equity line of credit will enable our broker partners to get in front of more borrowers by providing a HELOC opportunity that is more convenient than a traditional HELOC,” said Phil Shoemaker, CEO of The Loan Store. “Everything about the TLS HELOC is designed to provide the smoothest borrower experience possible, such that our broker partners will remain top of mind with the customers they serve.”

The TLS HELOC is accessible through the company’s wholesale partners network, with plans for further expansion in the near future.

By partnering with an approved TLS wholesale partner, borrowers have the option to secure a line of credit with terms ranging from five to 30 years, along with 2- to 5-year draw terms. There are no pre-payment penalties associated with the TLS HELOC, and this financing option is available for single-family residences, townhomes, planned unit developments, condominiums, secondary homes, and investment properties.

The Loan Store, Inc. was founded in 2019 as a wholesale mortgage company with a focus on offering competitive rates across its conventional, jumbo, VA, and non-QM lending products.

This content was generated using AI, and was edited and fact-checked by HousingWire’s editors.

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please