We are excited to share with you the latest news from HELOCs.com. We are thrilled to announce that we now offer home equity lines of credit using bank statements. This new offering provides our customers with even more flexibility and convenience when it comes to accessing equity in their homes. All occupancy types are welcome.
With our new program, customers can now qualify for up to $400,000 in a Home Equity Line of Credit (HELOC). This means that homeowners can access a significant amount of funds to use for a variety of purposes, such as home renovations, debt consolidation, or other financial needs just by using 12-month bank statements without having to provide any income documentation.
One of the key features of our new program is the use of alternative documentation, including bank statement income qualification for self-employed borrowers. This means that self-employed individuals can now easily qualify for a HELOC by providing their bank statements as proof of income. This streamlined process makes it easier for self-employed individuals to access the funds they need without the hassle of traditional income verification methods.
Additionally, our new program allows for a debt-to-income ratio (DTI) of up to 50%. This means that borrowers can have a higher level of debt compared to their income and still qualify for a HELOC. This flexibility is especially beneficial for borrowers who may have higher levels of debt but still have significant equity in their properties.
Overall, our new offering of home equity lines of credit using bank statements is designed to provide our customers with more options and flexibility when it comes to accessing equity in their properties. We are excited to offer this innovative program and look forward to helping our customers achieve their financial goals.
