How It Works
- Available in all states where the Lender is licensed and DC
- Broker must be licensed in the subject property state
- Minimum Loan Amount $25,000*
- Maximum loan amount $750,000 (1st and 2nd lien)
- Maximum 90% CLTV
- Minimum 600 FICO
- Maximum 50% DTI (600-679 Max DTI 45%)
- Debt consolidation is permitted to reduce DTI
- 3-Year I/O draw period + 17 Year Amortization*
- 1-4 Unit properties eligible (SFR , Condo or PUD)
*State exceptions apply – refer to section titled Geographic Restrictions
Income Verification
- Plaid or The Work Number (primary)
- Manual upload if electronic methods unsuccessful
Valuation
- AVM: $25K–$500K (higher CLTV may require secondary valuation)
- Full appraisal: $500K+ balance loans
- Min property value: $100,000
Hazard Insurance
- Not required on second liens
Ready to submit your EquityX inquiry?
Resources
- Matrix
- HELOC Broker Comp Addendum and ACH Form
- EquityX Setup Template
- *Send the completed template to: BrokerApprovals@theLender.com
Please Note:
If you have already signed up with us for a digital HELOC product, you do not need to sign up again. If you are unsure unsure, please reach out to your AE.
Disclaimer
(1) Bankrate data for Personal Loan, Credit Cards, and HELOC. The HELOC product requires the customer to pledge their home as collateral, and the customer could lose their home if they fail to repay. (2) Approval may be granted in five minutes but is ultimately subject to verification of income and employment, as well as verification that your borrower’s property is in at least average condition with a property condition report. Five business day closing assumes closing the loan with our remote online notary. Closing timelines will be longer for loans secured by properties located in counties that do not permit recording of e-signatures or that otherwise require an in-person closing.
