08/04/2026
A past client reached out looking to tap into home equity but wanted to keep their low rate first mortgage intact.�They had just welcomed a new baby and were dealing with unexpected medical expenses. Complicating things further, one borrower's credit score had dropped into the mid-500s due to recent delinquencies tied to a co-signed auto loan. Because�Because of this, traditional HELOC options weren't viable. With the rollout of loanDepot's 5x5 HELOC, loanDepot was able to assist with other options and generate an immediate pre-approval.**�The result: closing scheduled in just 2.5 business days*** and a solution that worked for the client's real-life situation. Ready to learn more? Call today to get started.�Real scenario shared by a loanDepot Loan Consultant.