Like any first mortgage, the Wealth Builder HELOC involves closing costs. These vary based on loan amount, property location, and the specific services required, but here is a general overview of what California borrowers should expect.

Typical Closing Cost Categories

• Origination fee: Charged by Lendia or the wholesale lender for processing and underwriting the loan
• Appraisal fee: A full interior appraisal is required; typically $500–$900 for standard properties in California
• Title insurance: Lender’s title policy is required; owner’s policy is optional but recommended
• Escrow/settlement fee: Charged by the title or escrow company handling the closing
• Recording fees: County recording fees for the deed of trust
• Prepaid items: Interim interest from closing to first payment, and any required initial escrow deposits

For Loans Above $2,000,000

Properties securing loan amounts above $2,000,000 require two independent appraisals, which increases the appraisal cost accordingly.

No Prepayment Penalty

The Wealth Builder HELOC does not carry a prepayment penalty. You can pay down or pay off the balance at any time without additional charges — which is essential given that accelerated payoff is a core feature of the product.

Comparing to a Traditional Mortgage

Closing costs on the Wealth Builder HELOC are generally comparable to a traditional first mortgage refinance. Your Loan Estimate will itemize all costs before you commit to the loan.