Self Employed HELOC and Bank Statement Second Mortgage
A self employed HELOC lets you tap your home equity using bank statements or a profit and loss statement instead of tax returns. I do these for primary and second homes in Maine and Florida, and investors can use my DSCR HELOC. Not everyone will qualify.
Can I get a HELOC without tax returns?
Yes. Some programs qualify you on bank statements or a P&L, so the write offs on your returns don't sink you.
What is a bank statement second mortgage?
It's a fixed closed end second mortgage that sits behind your first. You keep your low first mortgage and pull cash out, qualifying on your deposits.
HELOC or closed end second?
A HELOC is a line you draw from as needed. A closed end second is one lump sum with a set payment. I'll show you both.
Own rentals?
Use my DSCR HELOC for investment property. It qualifies on rent.
Frequently asked questions
Can a self employed person get a HELOC?
Yes. I qualify self employed homeowners on bank statements or a P&L in Maine and Florida. Not everyone will qualify.
Can I get a HELOC with no tax returns?
Yes, with a bank statement or P&L program.
Will a second mortgage touch my first mortgage?
No. Your first mortgage stays exactly as it is.
Can I get a HELOC on a rental?
Yes, with my DSCR HELOC.