5-DAY HELOC PROGRAM
Learn how you can access Home Equity fast
CMG offers a financing solution that can turn your home equity into cash in as little as 5 days. Whether you need to access liquid funds for an unexpected expense, want to avoid dipping into savings or taking out a personal loan, or just want an alternative option to pay for life’s next steps, our 5-Day HELOC can help.
GET STARTED ON YOUR 5-DAY HELOC TODAY!
Questions before you apply? Contact your Loan Officer
Make your home equity work for you!
The 5-Day HELOC can be used to financing a range of expenses, including:
- Home repairs, remodels, or renovations
- Unexpected expenses
- Last minute medical bills
- Debt consolidation
- Elder care or other life events
Determine if You’re Eligible
- Single-family residences (homes, condos, townhomes, PUDs, etc.)
- Can be used with a primary home, second home, or an investment property
- Must be in an eligible state (see below)
- Must have closed on the home at least 90 days ago
- Minimum FICO score of 620 (primary residences)
5-Day HELOC is not available in Delaware, Kentucky, Maryland, New York, Texas, Utah, and West Virginia.
This site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.
The 5-Day HELOC is an open-end product where the full loan amount (minus the origination fee) will be 100% drawn at the time of origination. The initial amount funded at origination will be based on a fixed rate; however, this product contains an additional draw feature. As the borrower repays the balance on the line, the borrower may make additional draws during the draw period. If the borrower elects to make an additional draw, the interest rate for that draw will be set as of the date of the draw and will be based on an Index, which is the Prime Rate published in the Wall Street Journal for the calendar month preceding the date of the additional draw, plus a fixed margin. Accordingly, the fixed rate for any additional draw may be higher than the fixed rate for the initial draw.
For the 5-Day HELOC, approval may be granted in five minutes but is ultimately subject to verification of income and employment. Five business day funding timeline assumes closing the loan with our remote online notary. Funding timelines may be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing. In addition, funding timelines may be longer if we cannot readily verify that your property is in at least average condition with no adverse external factors with a property condition report and need to order a desktop appraisal to confirm the value of your property.
Loan amounts range from a minimum of $20,000 to a maximum of $400,000. For properties located in AK, the minimum loan amount is $25,001. Your maximum loan amount may be lower than $400,000, and will ultimately depend on your home value and equity at the time of application. We determine home value and resulting equity through independent data sources and automated valuation models.
To check the rates and terms you qualify for, we will conduct a soft credit pull that will not affect your credit score. However, if you continue and submit an application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
VA LOAN
100% financing for eligible Veterans, Reservists and Active Duty Personnel
CMG COMMUNITY ONE GRANT
Purchase a home within a specific zip code with as little as 1% down payment.
VA LOAN
100% financing for eligible Veterans, Reservists and Active Duty Personnel
CMG COMMUNITY ONE GRANT
Purchase a home within a specific zip code with as little as 1% down payment.