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
HELOC · Available today
This HELOC is available today. It is a true revolving home equity line of credit — not a closed-end loan — guided by Russ Cox at Trust Mortgage LLC.
How the line works
At origination, 100% of the credit limit is drawn into a fixed-rate Simple Loan. As that balance is reduced, the line reopens. You can then redraw through cash outs, card purchases, or balance transfers — the revolving feature of a true HELOC, not a one-time closed-end advance.
One account · two payback options
Card purchases
Card purchases sit on a floating-rate revolving plan. The minimum payment is 1% of principal per month plus interest. The rate equals WSJ Prime plus a fixed margin set at origination.
Cash outs & balance transfers
Cash outs and balance transfers become a fixed-rate, fully amortizing simple-interest loan. Terms are 10, 15, 20, or 30 years. The 30-year term is only available for lines over $25,000. The rate is determined at the time of the draw.
Product terms
Initial draw
The line opens with a 100% draw. Those funds become a fixed-rate Simple Loan. That first advance is not optional — it is how this HELOC funds at closing.
Additional draws
After the initial balance is reduced, additional draws are available. Cash outs and balance transfers take a fixed rate at the time of the draw. Credit card purchases use a variable rate indexed to WSJ Prime. Draws are unlimited within the 5-year draw period, up to available credit.
Common uses
Borrowers commonly use this HELOC for home improvement, debt consolidation, and cash-out. Because the line is revolving, paying down the Simple Loan restores capacity. Later cash-outs, card purchases, and balance transfers sit on the same account — with the payback plan that matches how you drew.
Start the dedicated HELOC application, or review qualification and the process first. Russ Cox can walk you through the program before you submit.
Questions? Call
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.