Recently, we successfully closed a home equity line of credit (HELOC) loan for a borrower who, despite being unemployed, demonstrated an excellent credit history and substantial equity in their property. This achievement underscores our commitment to providing financing options for those borrowers who can not document their income.
The borrower, who owned their primary residence, approached us with a request for a HELOC. While traditional lenders might have hesitated due to the borrower’s lack of current employment, we recognized the strength of their financial profile. With a stellar credit history and significant equity in their home, the borrower was an ideal candidate for our No Income Verification mortgage loans.
We were able to finance a substantial line of credit amounting to $1.8 million. This HELOC not only provided the borrowers with the financial flexibility they needed but also demonstrated the value of leveraging home equity responsibly. By focusing on the borrower’s creditworthiness and the equity in their property, we were able to offer a solution that met their needs without the constraints of traditional income verification.
Our expertise in No Income-Verification mortgage loans allows us to serve a diverse range of clients. Get in touch with our office to go over how we can help you tap into your property’s equity without the verification of income.
