Financial institution Assertion HELOC – MortgageDepot

Trying to entry the fairness in your house with out impacting your low-rate first mortgage? Our Financial institution Assertion HELOC is the proper resolution. Whether or not you’re self-employed or going through problem with conventional mortgage necessities, this versatile possibility permits you to qualify utilizing simply 12 months of private or enterprise financial institution statements—no tax returns required. 

Key Options: 

• Stand-alone second lien HELOC 

• Out there for major residences, second properties, and funding properties 

• Minimal FICO rating of 660 

• Mortgage quantities as much as $750,000 

• Most CLTV of 85% for major properties, 80% for second properties and funding properties 

• Most DTI ratio of fifty% 

• Eligible property varieties: Single-family properties, townhomes, 2–4-unit properties, and warrantable or non-warrantable condos 

• Documentation choices: 12 months of private or enterprise financial institution statements 

• Money-out possession seasoning requirement: 6 months 

This house fairness line of credit score affords a simple option to faucet into your private home’s worth with out disrupting your present mortgage phrases. 

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Contact us to study extra in regards to the Financial institution Assertion HELOC and the way it may also help you obtain your monetary targets. Our group is right here to information you thru each step of the method!