🔴 Daily Mortgage Rates LIVE - 11/03/2025 -Instant HELOCs

🎥 Daily Mortgage Rates LIVE: Discover Instant HELOCs — fast, flexible Home Equity Lines of Credit that let homeowners access equity when they need it. Learn how they work, their benefits over traditional loans, and how homeowners use them for renovations, debt consolidation, or unexpected expenses. We’ll also compare Instant HELOCs vs HELOANs to help you choose the right option.

Watch here 👉 https://themortgagecalculator.com/Page/Daily-Mortgage-Rates-LIVE-Video-Podcast 

About The Mortgage Calculator: Licensed lender (NMLS #2377459) offering Conventional, FHA, VA, USDA, and 5,000+ Non-QM programs. Our team of 350+ Mortgage Loan Originators guides borrowers from application to closing.

Catch all the episodes of Daily Mortgage Rates LIVE at https://themortgagecalculator.com/Page/Daily-Mortgage-Rates-LIVE-Video-Podcast

Check out all episodes of Daily Mortgage Rates LIVE at https://themortgagecalculator.com/Page/Daily-Mortgage-Rates-LIVE-Video-Podcast

The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as thousands of Non-QM mortgage loan program variations using alternative income documentation!

Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes!

Our team of licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access thousands of mortgage programs using Alternative Income Documentation such as Bank Statement Mortgages...

Transcript

We're just about to get started here with another episode of daily rates live. Today's topic, we're going to discuss instant HELOC loans. So definitely, a particular topic here.

A lot of our customers, our borrowers out there have record equity in their homes currently, and there are many ways to access that equity. Helocs being very popular. They are our newer programs that are enabled with technology, enabled to allow us to close for investment properties and then within a few days for any primary home and of course we have our fixed rate second mortgages as well that we enjoy. So few minutes here, make sure we go live on all the platforms before we go into our demo. And, of course, before we go into our instant HELOC topic, we will check out our actual live rates for today across all of our different programs.

So it looks like we are here on pretty much all the platforms. So thank you everybody for joining us today. My name is Nick Hiersche. I'm the president of the mortgage calculator. We are a lender that, of course, loves to do all the traditional loans, but one of our passions are our non QM and unique products, including our topic for today, our instant HELOC loans, home equity line of credit, or second lien.

There's all kinds of different ways, to put it. But as I mentioned before, in, The US, our borrowers have record equity in their homes currently. So this is a great way to access that equity, with some of our cooler technology enabled loan programs that allow us to close quicker, faster, and easier using our, basically, technology on the back end. So let's go ahead and get into it today. Let me go ahead and switch my screen, and we'll get into today's topic.

So first off, as we do every day, we'll talk about the general this is the ten year Treasury yield. This is typically the best indicator in real time of what mortgage rates are doing. Of course, there's a lot more complicated metrics we could use, but this is very easy for most users out there to access and digest. So you see here, fortunately, last week, we had a little bit of uncertainty in the Fed announcement, and you see rates have been a little bit elevated since. But if we pull it out in the big picture, we are still pretty much at one year low.

So definitely still great options out there for all of our borrowers and every day we're getting a little bit more affordable out there between home prices and the mortgage rates market. So as we do every day, let's first start with our live mortgage rates for today. So I just refresh this, these are our live rates, for this morning. All of our standard programs usually issue rates right around noon and Easter time, which is right about now and so we can pull up all of our different options. We're going to compare across all the programs, a standard single family home, 500,000 purchase price, 300,000 loan amount, 60 percent loan to value, $7.60 FICO.

That way, it hits all of these different programs that compare apples to apples. You'd like a full breakdown, a full loan estimate, please get with one of our team members. We have over 400 loan officers that we'd be happy to help you out. Now first up here on the left, our standard conventional primary. So this is, Fannie Mae or Freddie Mac.

So these are standard loans you think of when you think of a mortgage typically. Coming in today, five point final APR, 6.123. So it's pretty much pretty much the same as the last time we did the show. And today, our FHA rates coming in at 5.25. Finally, 6.165 with all of the upfront and yearly mortgage insurance that is included for FHA.

And next up are VA loans for our VA borrowers, active service members, and surviving spouses. So if you are eligible, these programs are amazing. VA coming in today, 5.25 rate. Final APR, 5.512. You can see it is a little better, even though they're same rate as FHA.

FHA has much higher fees than our VA loans do not. It's definitely a great option for eligible borrowers. And also another unique program, our USDA programs for USDA eligible properties in those rural areas of the country and our borrowers that are eligible. These are great to compare. See USDA coming in today at 5% rate.

Final APR 5.686 with the fees that are included. So if you're comparing that across FHA, USDA, definitely compare if you're in one of those areas. And as I mentioned before, what we are very passionate about here at the mortgage calculator are our alternative programs. So our non QM opt doc options for a primary home. So this could be full doc, but could also, use things such as bank statements, ten ninety nines, p and l's, if you qualify for the loan.

So great opportunity for our self employed borrowers out there. Rates coming in today at 5.875, same as conventional. Final APR, 6.145. There are a few fees, so just a touch higher overall there for our non QM alt doc option to use alternative docs. So again, great option for our self employed borrowers.

And our non QM alt doc for investment properties for investors out there, rates coming in today 6% flat, finally, PR 6.321. And we'll compare that to our conventional options, our FINANC options coming in today at the same rate 6%. Finally, PRR 6.311 just a touch cheaper there on the fees for the conventional option. Pretty amazing we can do alternative docs for the same price as conventional. So we love our non QM options.

And another unique option we love to do is our DSCR service coverage ratio loans, no income or employment information needed. Simply use estimated rents from the property. And this first option is our standard three year prepayment penalty option. Rates today come in at 5.875. Absolutely amazing.

Lower than all doc or conventional. And final APR is 6.157 there with fees included. And there are had a five year prepaid to sweeten the deal a little bit. Rates are the same, 5.875, but you see here the final APR coming in at 6.108. So just a touch cheaper on the overall cost.

Five year prepayment penalty. And since we're doing this, topic for today, we'll continue on here. DSCR option with no prepayment penalty. Investors don't want a prepayment penalty and some states do not allow it. So that comes in today at 6% rate.

On average, 6.321. So just a touch higher for no prepayment penalty. And our second mortgage option. So again, our topic for today, instant HELOCs, another version of a second mortgage. These are our fixed rate second mortgage products.

So these are also non QM. So we can use alternative docs, bank statements, PNLs, ten ninety nines, etcetera. And our second mortgage for primary home for our borrowers to not have to touch their first if they still have a low rate first mortgage, still get some cash out, rates as low as 7.875. Finally, PR there is 8.168. So great option for our borrower, whether they're full doc or need to use alternative docs to access that record equity in their home.

And for our investors, same thing. Second mortgage for an investment property here, coming in at 8.75, finally, PR 9.176 in order to not have to touch that first mortgage. And we even have DSCR options for those fixed rate second mortgages. Now the more traditional way to access that equity is our topic for today, our instant HELOCs. So as always, I wanted to pull up a sample property here.

So I was just looking at my local market. I found this house. It looks like they're doing some price cuts. This is why it had popped up. So, in this example, if this customer didn't have to move out of their home, maybe they just needed to get some equity in order to maybe move, purchase another home, they could keep this as an investment.

Whatever they need to do, this could always be for borrowers that may not have to sell or it may help them sell and purchase their next home. So I just grabbed this house for an example. I put the 800,000 the price, estimated value, of course. So this this is for sale, but if they wanted to not sell it and just get a HELOC or help them out, not have to lower the price. Here's our first option.

So if this is their primary home, this is a max 85% combined loan to value. So since we're doing a second lien HELOC to get cash out, this is going to be on that exact property we were just looking at because we needed a property to go over. And we put an estimated first mortgage of $400,000 here in our example. And that way we have a HELOC for the max 85% combined loan to value. We can get up to 280,000 out with the HELOC here with this instant HELOC option.

And now you see the rates here just a touch higher than that fixed rate second mortgage we were looking at earlier. So HELOC coming in at 8.5 and the discount points there. And you can see the final APR 8.914 there in order to get 280,000 out of their equity in this example. And remember this is if it is their primary home. Now, if this is an investment property or a second home, the rates are a little bit higher.

So let's pull that up. And the one thing to note here is the max is 70% combined loan to value to get if this is not their primary home, if this is a second home or an investment property. So still a great opportunity if their first mortgage is low and they wanna keep that property. But we kept that same first mortgage amount at 400,000 and we were able to get up to 160,000 cash out in this example. And you see the rates here just a touch higher 9.23 and the final APR 9.693 when we do it for a second home or investment property.

So again, a great way for our to access the record equity that they may hold in their homes without having to touch that first mortgage. We have some great first mortgage options that we went over today, but you can see here our customers need to access that equity to free up some cash flow. It is very easy. In these instant HELOCs, use an instant valuation on the property. So Zestimate here, that's why I wanted to scroll down.

You see the Zestimate right in the ballpark. So if we run this at the instant HELOC, instead of 800,000, our estimated value, our instant AV estimate might come back slightly lower, so we might have to adjust the loan amount slightly. And we also just do a instant soft pull in order to prequalify for this. So great option for our borrowers out there. You see the instant valuation and the instant estimated rate based on your instant soft pull.

And, again, you can close the same day. You connect your bank account, finds deposits. If everything looks good, it lets you continue and you can sign docs digitally. So these are amazing options for our borrowers that just need access some of that equity. So that wraps it up for today.

Again, if you want a full breakdown a full loan estimate on any of our options, please get with one of our team members. They'd be happy to help you. And you can just go to our website, themortgagecalculator.com. So thanks everybody for joining us, and have a great day.