Are properties in a trust eligible for a HELOC?
Yes, Direct Federal will allow properties that are placed in acceptable trusts. The trust must be reviewed by our Attorney and must meet all of our guidelines and requirements for the transaction to move forward. The applicant will need to provide a full copy of the Trust agreement for review. The applicant must be the trustee or one of the co-trustees. All trustees must be 18 years of age or older. Additionally, the trustee must be authorized to borrow money and encumber real estate.
Connect
Contact Us
We’re here for you on your schedule.
Message
Login to Online Banking and send us a secure message 24/7 through the Message Center.
Chat
Live Chat available Monday-Friday 8am-5pm.