Updated over 7 years ago on . Most recent reply
HELOC with low income
My wife and I have a home that is owned outright and wish to get a HELOC on it to do some flips. We both currently are self employed and do not show enough income on our tax returns to qualify. Does anyone know of any banks that will do a HELOC based on other assets like cash on hand and investment accounts? We both have great credit and the house is worth over $2million. The other criteria I would like is for the draw period to be interest only. Can anyone recommend a bank, credit union or private lender that would fit my criteria???