No Income - Owner Occupied
Home Equity Line Of Credit
(Non-QM HELOC)

In recent years, U.S. home prices have risen significantly, and as a result, many homeowners have also seen an increase in their home equity. Home equity can be cashed out and used for various purposes such as paying off debt, funding a business, or covering education expenses.

 

Although interest rates are currently trending downward, they are not at the lowest point. Therefore, homeowners who already have a very low first mortgage rate tend to prefer home equity loan programs over refinancing. It can also be suitable for those who plan to make interest-only payments for about 10 years and pay off the loan early. However, for owner-occupied homes, it is generally difficult to qualify for a loan without sufficient verifiable income, even if there is substantial equity.

 

For situations like this—where income is not available or is insufficient to be documented—we offer a special program.

This program is available to those who cannot provide employment, income, or asset verification. For self-employed borrowers, qualification is possible without tax returns, using only P&L statements or bank statements. For rental properties, it is also possible without requiring the typical rent-to-loan ratio.

 

Please feel free to contact us for a no-obligation consultation and pre-approval.

No Income for Owner Occupied Home Equity Line Of Credit:

  • Home Equity Line of Credit (HELOC) – No Employment, Income, or Asset Verification Required

  • Maximum CLTV (Combined Loan-to-Value): 60% (up to 60% of the property value combined with the 1st mortgage + HELOC)

  • If there is an existing second loan, it must be paid off at closing.

  • Minimum Credit Score: FICO 700+

  • Loan Amount Range: $75,000 – $750,000

  • Repayment Terms:

    • 20-Year Term: First 10 years interest-only, followed by 10 years principal + interest payments

    • 30-Year Term: First 10 years interest-only, followed by 20 years principal + interest payments

  • Initial Draw Requirement: 95–100% of the line must be drawn at closing; 90-day lock-out period applies. After 90 days, the borrower may repay part of the balance and re-draw as needed.

  • Draw Period Options: Choose either a 3-year or 5-year draw period. During this time, repaid amounts can be re-borrowed (revolving account).

  • Interest Rate: Prime + (slightly higher than standard HELOCs with full documentation or self-employed verification)

  • Funding Timeframe: Approximately 1 month

  • Eligible Properties: Primary residence, condos, 1–4 unit owner-occupied properties, and second homes

 

HELOC for Self-Employed, Investment Properties, and Foreign Nationals

Self-Employed Borrowers:

  • Maximum CLTV: 60% – 80% (depending on credit, property type, and loan amount)

  • Credit Score: 680+

  • Income Documentation: Instead of tax returns, bank statements or P&L statements accepted

  • Loan Amount: $75,000 – $750,000




Investment Properties (Long-Term Rental / Short-Term Rental):

  • Maximum CLTV: 60% – 70% (depending on credit, property type, and loan amount)

  • Credit Score: 700+

  • Qualification: DSCR or No Ratio

    • DSCR: Based on rental income vs. loan amount

    • No Ratio: Does not require rental income vs. property value ratio

  • Loan Amount: $75,000 – $750,000




Foreign Nationals:

  • Loan Amount: $75,000 – $250,000

  • Maximum CLTV: 60%

  • Qualification: DSCR or No Ratio

    • DSCR: Based on rental income vs. loan amount

    • No Ratio: Does not require rental income vs. property value ratio

Non-QM HELOC Inquiry:

Total Household Annual Income