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New Piggyback HELOC Product for Tennessee

New Penn Financial is pleased to announce the introduction of a new piggyback HELOC product exclusively for properties in Tennessee.

This new product mirrors the existing NPF piggyback HELOC program parameters, except the interest rate will be based on the 30-Year Treasury Constant Maturity Rate Index plus applicable margin adjustments for FICO and CLTV.

  • If the property state is in Tennessee, you must select NPF HELOC Second-TN for the product to be valid
  • The existing NPF HELOC Second product is not valid when the property is in Tennessee

 

Please reference the Product Profiles page for full details of the changes outlined in this announcement.