What is the EAGL difference?
Tap into your equity for almost anything
You can utilize your growing equity without having to refinance your first mortgage loan — often up to 100% of your home's value.
Interest-only payment options
Interest-only flexibility means you control the principal payment for the first 5 years*.
Loan repayment at a fixed rate & payment
After five annual adjustments during the interest-only period your EAGL 100 is fixed for 20 years at the final adjusted rate*.
Let JFQ Lending show you how
Our experienced mortgage professionals will review your complete financial profile, including your equity position, income, and credit to make it simple & easy.
Tap into your equity to renovate & remodel
You can utilize your growing equity without having to refinance your first mortgage loan — often up to 133% of your home's value to invest in turning your house into your dream home.
Interest-only payment options
Interest-only flexibility means you control the principal payment for the first 5 years*.
Loan repayment at a fixed rate & payment
After five annual adjustments during the interest-only period your EAGL 133 is fixed for 20 years at the final adjusted rate*.
Let JFQ Lending show you how
Our dedicated mortgage professionals will walk you through reviewing your complete financial profile, including your equity position, and help guide you into the exciting parts of home improvement!
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EAGL FAQs
The Equity Access Granted Loan (EAGL) Product, is a JFQ Lending exclusive loan product. With an EAGL, you can borrow against the current value of your home without changing the terms of your first mortgage. Our multi-purpose EAGL 100 can go up to 100% combined loan-to-value (CLTV). If home improvements are your goal, then our EAGL 133 can get you up to 133% of your home's CLTV!
EAGLSs typically have a quick and streamlined review and approval process with the ability to access more of your home's value.
While our EAGL products do not have the same specific income, asset, and credit qualifying criteria as a traditional mortgage, they do require that we take your entire financial picture into consideration.
Individual product availability and pricing can vary based on your credit scores and your combined loan-to-value (CLTV) ratio. As with other loan types, having a higher credit score and a lower loan-to-value typically offers the best pricing.
Key Guidelines
- 660 minimum credit score requirement
- Loan amounts range from $70K to $250K.
- Interest-Only Adjustable Rate Mortgage
- Any loan purpose, except purchasing the home securing the loan.
- Eligible properties include most single-family detached, duplex, condominium, townhouse, and planned unit development properties.
For the EAGL 100 product:
- Primary residences must be owner-occupied at least 30 days prior to application.
- Second homes are eligible for up to 85% combined loan-to-value financing options.
For the EAGL 133 product:
- Funding home improvement projects only, including major appliances as part of a kitchen remodel. Fully executed contracts with valid/verifiable contractor's license info are required and bids or paid receipts within 60 days of application may be acceptable.
HELOC vs. EAGL
Opening a home equity line of credit HELOC is a direct access point for your home's equity, without making any changes to your first mortgage. HELOCs are typically structured with an initial interest-only draw period of up to 10 years where you can tap into your home equity, pay back the loan, and tap into the equity again if you want. Once the initial draw period is over, the loan enters the adjustable-rate repayment period for up to 20 years.
An EAGL product brings together higher combined loan-to-value access to your equity with an interest-only adjustable rate mortgage and a 20-year repayment period with a fixed rate and payment. Unlike a HELOC, the EAGL has a one-time disbursement of all the loan funds at the beginning.
LEARN MORE ABOUT EAGL 100 HERE
LEARN MORE ABOUT EAGL 133 HERE
JULY 26, 2022 9:01 AM | EAGL
Accessing Your Home Equity: EAGL Products 101
Learn about taking cash out of your home with our exclusive EAGL products, how you can use the equity, and how the process works.
JULY 11, 2022 11:01 AM | EAGL
Equity Access Granted Loan: EAGL 100
When it comes to home equity lending, with our EAGL 100 loan option now you can soar!
JULY 25, 2022 10:01 AM | EAGL
JFQ Lending Presents: The EAGL Exclusive
With Senior Vice President of Sales, Shane Haglin
Got Lofty Financial Goals?
NOW YOU CAN SOAR.
This offer is for the EAGL 100 and EAGL 133 Second Mortgage Programs. All other offers will have different terms.
*The advertised loan is a 5-Year Interest-Only Adjustable Rate Mortgage (ARM) followed by a 20-Year amortizing term. The total term of the loan is 25 years. The Interest-Only period is for the first 5 years of the loan and will adjust annually based on a margin and index. After the Interest-Only Period ends, the ARM will convert to a Fixed Rate Mortgage for the remaining 20-year loan term with a regular monthly payment of both principal and interest. The Annual Percentage Rate (APR) for the initial Interest-Only Adjustable Rate Mortgage (ARM) period is 7.563% based on a 5.625% introductory rate with a $100,000 loan amount. The APR example is for a variable interest rate. Click Here for a full payment example. Example is based upon a FICO Score of 800. A minimum FICO Score of 660 on a primary residence is required for the EAGL 100 and EAGL 133 Programs. The actual interest rate, APR, and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors as determined by JFQ Lending, LLC. Not available in all states. Rate is as of October 26, 2022 and is subject to change at any time without notice. JFQ Lending, LLC, NMLS ID# 1639493, is not affiliated with any government agency.