The Homelend Platform
HELOCS
Program Highlights
- Stand-alone first and second liens
- Piggyback 2nds
- Purchase, R/T and Cash-Out for all occupancy types
- Max Loan Amount $1.0mm
- Min Loan Amount $50K, Initial draw greater of $50K or 75% of total line amount
- Minimum FICO 640
- Max 90% CLTV/HCLTV
Borrower Profile
- Max DTI 50%
- Reserves not required
- Non-permanent resident aliens permitted
- Non-occupant co-borrower eligible on all transaction types
- Credit Event Seasoning: 4 Years BK, 5 Years DIL/SS, 7 Years FC
- Mortgage Housing History: 0x30x6, 1x30x24
Loan Characteristics
- Full Doc Salaried Borrower: 2 Year W2, AUS -per DU
- Full Doc Self-Employed Borrower: 2 Year Tax Return, AUS -per DU
- Asset Depletion -2 months statements for purchase, 1 month for refinances
- SFR, 2-4 Units, PUD, Townhome, Condo, Modular
- AVMs eligible for loan amounts <=$400K.
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