Getting HELOC without job but lots of money.

Getting HELOC without job but lots of money.

Investor · Norton, MA · Member since 2015 · 1 post · 0 votes

I own my home outright and its valued at between $280 and $320. I have tax forms stating that my income from investments totaled 48k in 2013 and 115k in 2014. Will a bank accept this and give me the credit line even though I have no salaried job? 

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  • Rental Property Investor · Los Angeles, CA · Member since 2010 · 804 posts · 230 votes
    11y

    A portfolio lender would do that type of loan, but not sure they would do a personal residence.

  • Real Estate Agent · Victoria, MN · Member since 2013 · 56 posts · 29 votes
    11y
    If you can show your investment income is sustainable and duplicateable (not really a word) then shouldn't be hard. If it is a very volatile investment probably not
  • Investor · San Ramon, CA · Member since 2013 · 55 posts · 11 votes
    11y

    Yes some direct lenders should have bank statement loan programs. I know we do here in sunny Southern California. 

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