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Specialized lender Symmetry Lending has updated the rates of its Standalone Home Equity Line of Credit (HELOC) products.
In a strategic move, the company has also adjusted the draw period for all its HELOCs, reducing it from 10 years to five years. Symmetry said these changes are designed to provide more tailored solutions to borrowers who have closed on their first mortgage more than 120 days prior.
“Symmetry’s been working hard to adapt our programs to meet the current needs of our mortgage broker clients and their customers,” Symmetry president and chief financial officer Ken Zongor said in a press release. “I believe these rate changes and other program updates will help our clients to grow their business, increase their income, and remain more competitive in the market.”
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