No Doc HELOC

No Doc HELOC

The No Income Documentation Home Equity line of credit is a mortgage program available in 12 states. No Income documents are needed or required, we base our decision strictly on the equity of the property and reserves. Here are a few bullets to pay attention to:

  • Max LTC is 50%
  • 12 months reserves required
  • 680 credit score, we’ve seen less with lots of reserves
  • No prepayment penalties
  • Primary, second home, or investment property
  • Draw period is 10 years
  • Rates are usually Prime plus 1%
  • Not Available to Foreign Nationals

Contact our office for more information and to see if your state is eligible for the no doc heloc, or complete the fast quote form and we’ll get back to you within 6 hours.