Loan programs
Every way to borrow against the home you have: HELOCs, home equity loans, third liens, bridge financing, and the hard-to-finance properties most banks turn down.
What loan programs does Shawn Way offer?
Shawn Way offers 18 loan programs, priced across more than 180 lenders. They start with HELOCs (fixed-rate up to $1 million, or interest-only up to $750,000) and home equity loans, and cover special situations such as bridge loans, Texas cash-out refinances and no-income-verification loans, conventional and reverse mortgages, and specialty properties such as co-ops and condotels.
Home equity programs
Ways to use the equity you already have, including options HELOC-only lenders don't offer.
HELOCs
Fixed-rate lines up to $1 million, variable interest-only up to $750,000, 5- to 30-year terms, funding in as few as 5 days.
Details → Fixed rateHome equity loans
A fixed-rate lump sum against your equity, with a payment that never changes.
Details →Already have a HELOCThird-lien home equity loans
Borrow more without refinancing your first mortgage or your existing HELOC.
Details →No monthly paymentHome equity agreements (HEI)
Cash now for a share of your home's future value. No monthly payments.
Details →Special situations
Texas homesteads, buying before you sell, winning a bid with cash, credit or income that doesn't fit the usual boxes, and portfolios of rentals.
Texas 50(a)(6) cash-out refinance
Cash-out refinancing a Texas homestead under the state constitution's rules.
Details → Buy before you sellBridge loans
Use equity in your current home to buy the next one before it sells.
Details → Win the bidCash offer programs
Make a cash offer on your next home, then finance it after closing.
Details → Rebuilding creditEquity with a credit score under 580
Options for cash out or a new loan when your score is below 580.
Details → Self-employed and investorsNo income or employment verification
What 'no income verification' really means, and the programs that fit.
Details → Real estate investorsBlanket and cross-collateral loans
Pull equity from several rentals with one loan.
Details →Purchase and refinance
When a home equity line isn't the right fit: buying with a piggyback HELOC, or a reverse mortgage after 62.
Specialty properties
Homes many lenders won't touch. With access to more than 180 lenders, these are where shopping matters most.
Co-op apartments
Financing and equity options when you own shares in a co-op.
Details →Condo-hotel unitsCondotels
Financing a unit in a condo-hotel with a rental program.
Details →Building doesn't meet agency rulesNon-warrantable condos
Financing a condo in a building Fannie Mae and Freddie Mac won't approve.
Details →Acreage and farmland zoningRural and agricultural-zoned property
Financing homes on acreage or in agricultural zoning.
Details →Live and workMixed-use properties
Financing a building with both residential and commercial space.
Details →Log, dome, converted and moreUnique properties
Financing homes that don't fit the usual appraisal mold.
Details →How to choose a program
Start with your goal. To get cash from a home you own, compare a HELOC, a home equity loan and a cash-out refinance; the right one usually depends on your current mortgage rate. Self-employed? See bank-statement HELOCs. Own rentals? See HELOCs on investment property. Buying with less than 20% down? A piggyback HELOC can avoid mortgage insurance.
Because Shawn Way can price one application across more than 180 lenders, unusual situations are where comparing makes the biggest difference. Been told no elsewhere?