Stated Income HELOC – Flexible, Fast, and Self-Employed Friendly

Refinance or access home equity easily with our Stated Income HELOC in California. This Home Equity Line of Credit (HELOC) is designed for self-employed borrowers and wage earners who need flexibility and simplicity—no tax returns or complex income documentation required.

Program Overview

Loan Type: Home Equity Line of Credit (HELOC)
Term: 30 years total — 10-year draw period + 20-year repayment period
Rates: Prime + .75% (1st TD) | Prime + 1.% (2nd TD)
Occupancy: Owner-Occupied (O/O) and Non-Owner Occupied (N/O/O)

LTV & Credit Score Requirements

Owner-Occupied: Up to 50% LTV (1st TD to $1M) | 50% CLTV (2nd TD)
Non-Owner Occupied: Up to 50% LTV (1st TD to $1M) | 50% CLTV (2nd TD)
Credit Score: Minimum 700 mid-FICO
No seasoning required — Use purchase price if owned under 6 months, appraised value if over 6 months

👉 Don’t have a 700 FICO score? Click here to explore our easy-doc HELOC programs with flexible credit options.

Eligible Property Types

1–4 Unit SFRs, Condos, and PUDs
No seasoning of ownership required
Foreign Nationals accepted (Passport only)
All properties zoned residential

Borrower Eligibility

Available for both Self-Employed and W-2 Borrowers:

W-2 Borrowers: VOE (Verification of Employment) required; Max 40% DTI
Self-Employed Borrowers: CPA or EA letter required (call for details)

Reserve Requirements (PITIA-Based)

6 Months: For qualified borrowers with standard income verification (not available right now)
12 Months: For borrowers great than 700 mid score

Additional Highlights

No prepayment penalties
No appraisal required up to $500K (temp special)
No maximum property limit
No history of bankruptcy, foreclosure, short sale, or tax lien within required timeframes

Available States

Currently lending in: CA, IL, NV, TX, NY, MD, NJ, WA, MA

Example Scenario

Borrower with a 700 mid-FICO refinances a California property at 50% LTV under our Stated Income HELOC program. 10-year draw period with interest-only payments, followed by 20-year amortization—perfect for cash flow flexibility.

Why Choose Our Stated Income HELOC?

Designed for self-employed borrowers who don’t qualify with traditional income docs
Fast approvals and no-tax-return process
Competitive rates and flexible credit options
Borrow against your equity without refinancing your first mortgage

Ready to apply? Contact us today to learn how our Stated Income HELOC in California can help you access your home equity—quickly, easily, and with minimal documentation.

List of Forms & Documents Required:

Copy of 1st mortgage “Note” sample copy of a Note – if you’re not sure what it looks like.
Photocopy of valid ID.
Current mortgage statement.
CPA or Enrolled Agent prepared letter stating income – call us for details.
Please provide lease agreements when property is leased.
Please provide a rent roll and Schedule of Real Estate Owned if you have more properties and units.
Insurance declaration page/quote for coverage.
1003 Loan Application – use printed 1003 leave liabilities blank.
Credit report we will pull or if broker submitted need full 3 bureau – but we still have to pull it.
Borrower authorization Borrower’s Authorization.
Borrower authorization to run and pay for credit Credit $ Authorization Form.
SI form – Statement of Information SI Form – Statement of Information.
How do you want to hold title Vesting Form For Borrower.
Social Media disclosure Social Media Disclosure.
**To expedite your file organize documents in adobe format “.pdf”.