First Tech Federal Credit Union
5100 Northeast Dawson Creek Drive, Hillsboro, OR 97124
https://www.firsttechfed.com/
Internal Reviews
(0 reviews)
Total loans closed with Loan Factory
18,088
Total loans closed with Loan Factory (past 12 months)
14,655
Lender overview
Basic information
HELOC
First Tech Federal CU ISAOA PO Box 702747 Dallas, TX 75370
N/A
Lock policies & Fees
Lock Policies
N/A
The loan may be re-locked 1 time, with a new 60-day lock period. Re-locks will be at current market price.
No
Lender's niche & Overlays
Competitive rates on 1st and 2nd lien position for standalone HELOCs for owner-occupied properties. Piggyback transactions also available. 10 year initial draw period with interest-only payments, followed by 20 year amortized repayment period.
Lender-paid broker comp
- Aggregate to $3.5 Million – Tied to CLTV
- Lender paid comp at 1.5% of the draw on both Standalone and Piggyback
- Minimal LLPA’s
- HELOC in 1st Lien Position Allowed
- Line Amount Rate Improvements
- (.50) credit for Piggyback transactions
- (.125) credit for >780 FICO
- 50% DTI with minimal comp factors
- Qual Rate at 2% using interest only payment
- For HELOC Standalone product - No maximum size for 1st Mortgage, as long as aggregate is met
We have a few overlays for reserves and income documentation, please refer to our underwriting guidelines.
Lender turn time
2
2
N/A
Review - First Tech Federal Credit Union
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