Non-QM HELOCs – MortgageDepot

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Our specialty is offering  Home Equity Lines of Credit (HELOCs) for all types of borrowers: self-employed, unemployed, retired, investors, and any property owner who cannot go the conventional route.

HELOCs

Core Structure:

  • 2, 3, or 5-year draw periods
  • Interest-only payments for the first 10 years
  • 20- or 30-year total loan terms

Alt Doc & No-Income Options

Conventional lenders rely heavily on tax returns, but we know that doesn’t always reflect the full picture. Our HELOC programs include Alternative Documentation (Alt Doc) options.

  • WVOE (Written Verification of Employment)
  • Profit & Loss Statements (P&L)
  • Bank Statements (personal or business)
  • DSCR (Debt Service Coverage Ratio for investors)

Maximum CLTV up to 75% depending on the documentation type.

No-Income HELOC Option (Yes, Really)

For qualified borrowers, we also offer a No-Income Verification HELOC.

  • Owner-occupied properties
  • Up to 60% CLTV
  • Minimum 640 FICO

Investor-Friendly HELOC Solutions

Real estate investors are a big part of what we do.

  • No-ratio investment options
  • DSCR qualification (no personal income required)
  • Lienient underwriting for rental portfolios

Our HELOCs are available for a wide range of borrowers and property types:

  • Primary residences
  • Second homes
  • Investment properties
  • Foreign Nationals eligible

Loan Amounts:

  • From $25,000 up to $3,000,000

Reach out, and we’ll connect you with a Heloc loan specialist to go over your scenarios.

 

 

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