Russell Cox, Executive Mortgage Advisor at Trust Mortgage LLC
Russell Cox, Executive Mortgage Advisor
Trust Mortgage LLC
Phone: (586) 864-2848
Email: [email protected]
NMLS# 1159730
Company NMLS# 2491461
Licensed in: MI, FL
Credit · property · application to draws
Credit, appraisal, and property rules — then the six steps from first conversation to later draws. Russ Cox, Executive Mortgage Advisor at Trust Mortgage LLC, can walk this with you before you apply.
Two tracks
HELOC underwriting follows one of two tracks based on the requested line. Use the $400,000 threshold below — do not mix the score models or appraisal paths across tracks.
Credit model: Experian FICO v9 and Experian Vantage v4
Co-borrowers: both must exceed 620 FICO and Vantage score
Appraisal: automated home valuation used in place of a full appraisal
Credit model: median of Experian, Equifax, and TransUnion FICO score
Co-borrowers: both must exceed 760 tri-bureau FICO
Appraisal: a full appraisal is required
Term note
A 30-year Simple Loan term is available only for line sizes greater than $25,000. Smaller lines follow the remaining fixed-rate term options available on the program.
These guidelines are for discussion with Russ Cox. They are not a commitment to lend and remain subject to lender underwriting.
Collateral
Eligible condos include detached condos. High-rise condos are ineligible.
The path
This HELOC is a true revolving line. The first funding is a full draw into a fixed-rate Simple Loan. After you pay that balance down, the line can reopen for cash-outs, balance transfers, and card purchases.
Where you apply
This is not a generic mortgage application. Borrowers working with Russ Cox apply on his dedicated HELOC flow so the file is tied to this program from day one. Confirm program fit with Russ first, then open the application at the link on this page.
Two ways later draws work
After the initial full draw, additional access during the 5-year draw period is unlimited — but the product you get depends on how you take the funds.
Fixed-rate installment loan. Used for the full initial draw, cash-outs, and balance transfers.
Variable-rate revolving credit. Used for card purchases during the draw period.
These guidelines are for discussion, not a commitment to lend. All products are subject to credit approval and lender underwriting. Apply through the dedicated HELOC flow, or contact Russ Cox to review credit, line size, and property type first.
Trust Mortgage LLC
Russ Cox · Executive Mortgage Advisor
NMLS · Company NMLS
2530 S Rochester Rd Rochester Hills, MI 48307
Contact
Equal Housing Opportunity
This HELOC is offered through the application linked on this site. This is not a commitment to lend. All products are subject to credit approval and lender underwriting.