We are happy to announce the introduction of a new piggyback HELOC exclusively for properties in Colorado.
NPF Piggyback HELOC - CO
To simplify the requirements for originating a piggyback HELOC in the state of Colorado, New Penn Financial is pleased to announce the introduction of a new piggyback HELOC product exclusively for properties in Colorado. This new product mirrors the existing NPF piggyback HELOC program parameters, except the maximum ceiling rate will be capped at 12%.
- If the property state is in Colorado, you must select NPF HELOC Second-CO for the product to be valid
- The existing NPF HELOC Second product will no longer be valid when the property is in Colorado
- Loans that are currently in process will need to be updated to the new product
- Brokers in Colorado are no longer required to provide a copy of their Supervised Lender License
Please reference the Product Profiles page for full details of the changes outlined in this announcement.