HighTechLending
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HighTechLending provides retail home loans, refinancing, and reverse mortgages. Founded in 2007, the 's corporate headquarters is in Irvine, California, and it serves a number of states throughout the United States.
This review will focus on HighTechLending's . To see what are saying about their experience, check out the HighTechLending reviews here.
Top Ranked Companies
The Good
- Traditional HECM
- Automated Process
- Diverse Payout Plans
Traditional HECM
HighTechLending only offers a HECM . This should be able to meet the needs for a majority of homeowners that are looking to cashout on their home's . Below lists out the requirements that you can expect from your HECM :
- limit of $679,650
- Must be 62 years old or older
- Must have substantial ownership in the property or own it out right
- Must be able to pay monthly property expenses
- Must not be significantly late on debt payments
These requirements are standard in comparison to other lenders.
Automated Process
HighTechLending claims its paperless and automated make for a fast process for obtaining a . The day you start processing your loans, the begins closing them. When you're done processing, HighTechLending will close the next day.
Diverse Payout Plans
HighTechLending offers the following payout plans:
- Tenure - you get equal as long as the occupies the property as a principal residence
- Term - you get equal for a fixed number of months
- Line of - you choose the amounts and times of payments until you exhaust the line of
- Modified Tenure - a combination of line of and scheduled
- Modified Term - a combination of line of plus term payments
If you are feeling unsure about some payment methods that other lenders are offering, HighTechLending's wide variety of payment solutions make it easier to find the right option for you.
The Bad
- Limited Availability
Limited Availability
HighTechLending is licensed to provide reverse mortgages only in Washington, Oregon, California, Hawaii, Nevada, Utah, Arizona, Colorado, New Mexico, Idaho, Texas, Georgia, Florida, South Carolina, North Carolina, Illinois, Virginia, Pennsylvania, Maryland, DC and New Jersey.
The Bottom Line
HighTechLending's will be able to meet the needs of a majority of borrowers. In addition its digital solutions help to streamline and simply the . The 's paperless, automated application and process is one of its biggest strengths.
To see what others are saying about their experience, checkout the .
