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Fixed-Rate Loan Option at account opening: You may convert a withdrawal from your home equity line of credit (HELOC) account into a Fixed-Rate Loan Option, resulting in fixed monthly payments at a fixed interest rate. The minimum HELOC amount that can be converted at account opening into a Fixed-Rate Loan Option is $15,000 and the maximum.
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You can therefore use the jumbo home loan to buy your luxury home in Texas. Nonetheless, you will need to meet the strict guidelines that the loan requires, owing to the large amount of cash that it.
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