How Novus Equity Advantage Works

Novus Equity Advantage includes a linked checking account that scans and monitors for deposits daily and applies them to the outstanding principal balance of the line of credit. Because interest is calculated on the remaining balance, maintaining deposits against the account can reduce interest costs over time and support faster balance reduction compared to a traditional amortized mortgage.

Unlike traditional mortgages—where payment structures generally remain fixed unless the loan is refinanced—Novus Equity Advantage provides flexible repayment options based on the outstanding balance and available credit. This structure allows borrowers to manage repayment according to their cash flow, without requiring refinancing to change how payments are made.

Access to Funds When You Need Them

Borrowers may access available credit for home improvements, repairs, debt consolidation, or unexpected expenses, up to a percentage of the home’s value and subject to program guidelines and underwriting requirements. This allows borrowers to build equity while still maintaining access to funds as needs arise.

How Does Novus Equity Advantage Help Build Equity?

Novus Equity Advantage helps borrowers build equity by applying deposits directly to the outstanding balance of the line of credit. As the balance is reduced, interest costs may decrease, allowing more of each dollar to work toward principal reduction. Over time, borrowers who consistently maintain deposits against the balance may accelerate payoff compared to traditional loan structures.

Key Benefits of Novus Equity Advantage

• Reduction of the outstanding balance through daily scanning and monitoring functionality
• Potential reduction in overall interest costs over time
• Potential acceleration of payoff based on cash-flow behavior
• Flexible access to available credit for home improvements and repairs
• Ability to consolidate higher-interest debt
• Flexibility to manage life’s planned and unplanned expenses

Product Structure at a Glance

• First Lien Home Equity Line of Credit
• Linked checking account with deposit application scanning functionality
• Fixed credit limit for the first 10 years
• During the remaining 20-year period, the credit limit gradually reduces each month by 1/240th, ensuring full repayment by the end of the term
• Flexible repayment options based on outstanding balance and available credit

Important Note

Actual interest savings, equity growth, and payoff timing depend on individual borrowing behavior, deposit patterns, and overall account usage. All loans are subject to underwriting approval and program requirements.