Equity
Bank statement HELOC. Equity for the self-employed
A home equity line of credit qualified on your deposits instead of tax returns. Keep your first mortgage in place.
What a bank statement HELOC is
A HELOC is a line of credit against your home's equity that sits behind your first mortgage.
A bank statement HELOC qualifies you on the deposits in your bank statements, so write-offs don't hold you back.
Who it fits
- Self-employed homeowners
- Business owners who want access to equity
- Homeowners who want to keep a low first-mortgage rate
- Owners planning a remodel or investment
The steps
How it works with us
- Know your equityStart with a free Home Value Report, or tell us what you think the home is worth.
- One soft pullWe check your credit once, without affecting your score, and shop the file with 130+ lenders.
- Line or lump sumWe compare a HELOC with a home equity loan and a cash-out refinance.
- CloseWe handle the lender and title, and get your line open.
Get ready
What to have on hand
You don't need all of it to start. The application tells you what's missing.
- Photo ID for everyone on the loan
- 12 or 24 months of personal or business bank statements
- Your most recent mortgage statement
- Homeowners insurance declarations page
Questions
Good to know
Do I need tax returns?
No. A bank statement HELOC qualifies on your deposits.
Does it replace my first mortgage?
No. It's a separate second loan, so your first mortgage stays as it is.
Can I draw as I need it?
Yes. A HELOC is a line you draw from as you need it.
Is a HELOC better than a cash-out refinance?
If your current rate is low, keeping it with a HELOC often comes out ahead. We compare both.