Gershman Mortgage has unveiled its 5-Day HELOC, a new standalone home equity line of credit product.
According to the St. Louis-headquartered company, the 5-Day HELOC lets qualified homeowners borrow up to $750,000, with term options of 10, 15, 20, or 30 years. No hard credit inquiry is required to get started. Once approved, the closing can follow in as few as five business days.
Jeff Ogden, senior vice president of production at Gershman Mortgage, stated, “Plenty of homeowners have built up real equity, and a lot of them don’t want to touch their first mortgage to use it. This HELOC gives them a way to quickly tap that equity for renovations, tuition, paying down credit cards, or whatever they need.”
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