Qualify & process

Russell Cox, Executive Mortgage Advisor at Trust Mortgage LLC

Russell Cox, Executive Mortgage Advisor

Trust Mortgage LLC

Phone: (586) 864-2848

Email: [email protected]

NMLS# 1159730

Company NMLS# 2491461

Licensed in: MI, FL

Qualify & Process | HELOC Eligibility and How It Works

Qualify & process

Line size determines credit and appraisal

Line size ≤ $400,000

Line size > $400,000

30-year Simple Loan term

Property eligibility

Eligible

Ineligible

Six steps from conversation to revolving access

Russ’s dedicated HELOC application

Revolving Plan vs. Simple Loan

Simple Loan

Revolving Plan

Ready to confirm your path?

Credit · property · application to draws

Credit, appraisal, and property rules — then the six steps from first conversation to later draws. Russ Cox, Executive Mortgage Advisor at Trust Mortgage LLC, can walk this with you before you apply.

Two tracks

HELOC underwriting follows one of two tracks based on the requested line. Use the $400,000 threshold below — do not mix the score models or appraisal paths across tracks.

Credit model: Experian FICO v9 and Experian Vantage v4

Co-borrowers: both must exceed 620 FICO and Vantage score

Appraisal: automated home valuation used in place of a full appraisal

Credit model: median of Experian, Equifax, and TransUnion FICO score

Co-borrowers: both must exceed 760 tri-bureau FICO

Appraisal: a full appraisal is required

Term note

A 30-year Simple Loan term is available only for line sizes greater than $25,000. Smaller lines follow the remaining fixed-rate term options available on the program.

These guidelines are for discussion with Russ Cox. They are not a commitment to lend and remain subject to lender underwriting.

Collateral

Eligible condos include detached condos. High-rise condos are ineligible.

The path

This HELOC is a true revolving line. The first funding is a full draw into a fixed-rate Simple Loan. After you pay that balance down, the line can reopen for cash-outs, balance transfers, and card purchases.

Where you apply

This is not a generic mortgage application. Borrowers working with Russ Cox apply on his dedicated HELOC flow so the file is tied to this program from day one. Confirm program fit with Russ first, then open the application at the link on this page.

Two ways later draws work

After the initial full draw, additional access during the 5-year draw period is unlimited — but the product you get depends on how you take the funds.

Fixed-rate installment loan. Used for the full initial draw, cash-outs, and balance transfers.

Variable-rate revolving credit. Used for card purchases during the draw period.

These guidelines are for discussion, not a commitment to lend. All products are subject to credit approval and lender underwriting. Apply through the dedicated HELOC flow, or contact Russ Cox to review credit, line size, and property type first.

Trust Mortgage LLC

Russ Cox · Executive Mortgage Advisor

NMLS · Company NMLS

2530 S Rochester Rd Rochester Hills, MI 48307

Contact

Equal Housing Opportunity

This HELOC is offered through the application linked on this site. This is not a commitment to lend. All products are subject to credit approval and lender underwriting.