Data will not be shared with third parties for marketing or promotional purposes. If you opt in, your information will be used strictly internally to prepare quote and contact you regarding your options. We do not sell your information to third parties.

A Home Equity Line of Credit (HELOC) is a flexible loan that leverages the equity you've built up in your home. At Financially Fit Inc, we partner with over 200 lenders to provide you with below-market financing options tailored to your needs. Here's how a HELOC works: 1. **Approval and Credit Limit:** Once approved, you'll be assigned a credit limit, which is based on a percentage of your home's appraised value minus the balance owed on any existing mortgage. 2. **Draw and Repayment Periods:** A HELOC typically has a draw period (usually 5-10 years) during which you can borrow funds as needed, followed by a repayment period (often 10-20 years) where you repay the borrowed amount with interest. 3. **Flexible Borrowing:** Unlike a traditional loan, you can withdraw and repay funds multiple times up to your credit limit during the draw period. 4. **Interest Rates:** HELOCs generally have variable interest rates which can fluctuate based on the prime rate. We also have Fixed Rate HELOCs Available. 5. **Uses and Benefits:** Funds from a HELOC can be used for various purposes, such as home improvements, debt consolidation, or other large expenses. The main benefit is flexibility, allowing you to access funds as necessary without the need to reapply for a new loan. By choosing Financially Fit Inc for your HELOC needs, you benefit from our extensive network of lenders, ensuring you get the best possible rates and terms below market. For tailored advice and more information, our mortgage specialists are ready to assist you.

A Reverse Home Equity Line of Credit (Reverse HELOC) offered by Financially Fit Inc allows seniors to borrow against the equity in their home without the need to make monthly mortgage payments. This financial product is designed to provide retirees with a flexible source of funds, enabling them to access their home's equity as a revolving line of credit. Here's how it works: Seniors can draw from the line of credit as needed, either in lump sums, fixed monthly payments, or a combination of both. Interest is only charged on the amount borrowed, and unlike a traditional HELOC, repayment of the principal and interest is deferred until the borrower either moves out of the home, sells the property, or passes away. This means seniors can use the funds to cover living expenses, healthcare costs, or other financial needs without the pressure of immediate repayment. Financially Fit Inc, partnering with over 200 lenders, ensures that seniors receive the best financing options below market rates. Our team of experts will guide you through the process, ensuring you fully understand the terms and benefits of a Reverse HELOC, helping you make an informed decision that supports your financial goals in retirement.

Yes, Financially Fit Inc can work with clients who have not filed their tax returns. As a leading mortgage broker, powered by West Capital Lending and with access to over 200 lenders, we understand that not everyone's financial situation is the same. We have several financing options tailored to meet different needs, including those who may not have current tax returns. To find the best solution for your circumstances, we will conduct a thorough assessment and explore all available options to help you secure the best financing below market rates. Contact us to discuss your situation in more detail, and we'll guide you through the next steps.

A Debt Service Coverage Ratio (DSCR) loan is a type of mortgage designed to assess a borrower’s ability to generate enough income to cover their debt obligations. At Financially Fit Inc, powered by West Capital Lending, we offer DSCR loans that are particularly advantageous for real estate investors and businesses. The DSCR is calculated by dividing the property's annual net operating income (NOI) by its annual debt service (total loan payments). This type of loan allows you to qualify with only the rental property income. No personal income is required. For example, if a property’s NOI is $120,000 and its annual debt service is $90,000, the DSCR would be 1.33 ($120,000 ÷ $90,000). A DSCR of 1.25 or higher is typically considered strong, indicating that the property can generate 25% more income than is required to cover its debt payments, thereby reducing the risk to both the borrower and lender. At Financially Fit Inc, we work with over 200+ lenders to guarantee you the best financing options below market. Our expert brokers will guide you through the process, ensuring you understand your DSCR and how it impacts your loan eligibility and terms. This comprehensive approach helps you secure financing that aligns with your investment goals and financial health.