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Non-QM Home Equity Loans

There are two types of Home Equity Loans. Heloc is a line of credit, and Heloan is a fixed-rate, fixed-payment second mortgage option. Both loans are equity loans. Determining the best loan program for you is something you should discuss with one of our loan officers. Depending on the state, we can offer home Equity Lines of Credit (HELOC) up to $10 million. Both these programs are non-QM loan programs, so personal income is not required; actually, you can be unemployed and still get financing.

  • No Income Check is available at 50% LTV.
  • Full Doc, 12- or 24-Month Bank Statement, P&L, DSCR
  • Loan Amounts Up to $2MM (Max $10MM Combined 1st & 2nd)
  • Max CLTV: 90% | Max DTI: 50% | 660 Min Credit Score
  • Owner-Occupied, Second Homes, Investments
  • 10, 15, 20 & 30-Year Fixed | 30/15 & 40/15 Balloon Loans
  • SFR, PUD, Townhouse, 2-4 Units
  • No Prepayment Penalty (Except DSCR Loans)

The HELOC is a 30-year loan with a 10-year draw period, with 20 years of payback. This means you can draw on your home equity line of credit within the first 10 years. The remaining 20 years will be a fully amortized payment, repaying the balance left after the draw period ends.