Investor HELOC
HELOC rates & terms
The straight answers investors ask before applying. $0 origination fees and $0 broker fees.
01
How the rate works: prime + margin
Prime is the index, not your rate. Your variable HELOC rate is prime plus an investor margin set at desk review from your FICO, CLTV, qualifying track and line size. The margin stays fixed; when prime moves, your rate moves by the same amount. Caps, floors and adjustment timing are confirmed in your proposal.
Prime
—
Unavailable
Margin
Set at
desk review
Your rate
Variable
in your proposal
02
Prepayment penalty: none
No prepayment penalty — pay down or pay off anytime.
03
Short-term rentals: eligible
Short-term rentals (Airbnb/VRBO) are eligible on both the DSCR and bank-statement tracks.
04
Eligible existing first mortgages
The existing first mortgage can be agency, DSCR, Non-QM or a private loan, as long as the first-lien holder can provide a legitimate payoff statement.
05
States we lend in
- Alabama
- Alaska
- Colorado
- Delaware
- Florida
- Hawaii
- Illinois
- Kansas
- Maine
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- Wisconsin
- Wyoming
- District of Columbia
States not listed are not currently available.
The HELOC math, step by step
Enter the margin from your own proposal. We don't publish margins; they're set at desk review.
Enter prime
1. Your rate
Enter your margin to see prime + margin = your rate.
2. Interest-only payment on what you drew
—
3. When prime moves (your margin stays the same)
—
4. Paying it down early
— No prepayment penalty — pay down or pay off anytime.
5. Eligibility checklist
- Investment / rental property only
- Existing first: agency, DSCR, Non-QM or private (valid payoff statement)
- Short-term rentals (Airbnb/VRBO) are eligible on both the DSCR and bank-statement tracks.
- 700 FICO minimum; the DSCR track requires 720+.
- Line size: $50,000 – $750,000 line (rental-income/DSCR lines up to $500,000)
- The first draw at closing must be at least 80% of the line and at least $50,000. Later draws are $5,000 minimum.
- Variable rate: Prime + margin, with a 4% floor and an 18% lifetime cap (or lower where state law requires).
- Property in one of the states listed above
Illustration only, not a quote or commitment. Your actual margin, caps, floors and payment are confirmed in a desk-reviewed proposal.
Program at a glance
- Line size: $50,000 – $750,000 line (rental-income/DSCR lines up to $500,000)
- Bank statement: up to 75% CLTV at 720+ FICO through $500,000
- Bank statement: up to 70% CLTV at 700–719 FICO through $500,000
- DSCR: up to 70% CLTV at 720+ FICO through $500,000
- Bank statement: up to 65% CLTV at 720+ FICO from $500,001 to $750,000
- 700 FICO minimum; the DSCR track requires 720+.
- 5-year interest-only draw, 25-year amortization, 30-year maturity.
- The first draw at closing must be at least 80% of the line and at least $50,000. Later draws are $5,000 minimum.
- Variable rate: Prime + margin, with a 4% floor and an 18% lifetime cap (or lower where state law requires).
- Minimum 6 months of ownership since purchase or the most recent mortgage transaction; properties listed for sale in the past 6 months are ineligible.
- LLC vesting is allowed.
- DSCR lines require a lease in place; rent used is the lesser of market rent or the lease (higher lease rent allowed with 3 months of receipts). 2–4 units may have at most one vacant unit. Minimum 1.10x DSCR.
- Eligible: single-family, PUD, townhome, 2–4 units, rural, warrantable condos (max 80% CLTV) and non-warrantable condos (max 75% CLTV); up to 10 acres (over 2 acres max 80% CLTV).
- Ineligible: row homes, condotels, commercial or agricultural property, leaseholds, land trusts, age-restricted communities, hobby farms, modular, land-contract and log homes, and properties with a solar-panel lien.
- Lines up to $400,000 may use an AVM plus property inspection; above $400,000 a full interior appraisal is required. Appraisal waivers are not accepted.
- US citizens, permanent residents and non-permanent residents with a valid SSN are eligible; foreign nationals and ITIN borrowers are not.
- Declining markets reduce max CLTV by 5%; Philadelphia reduces it by 10%.