You’re likely eligible if you have meaningful equity (CLTV under ~80–90%), solid credit, verifiable income with a reasonable DTI, and an eligible property. Primary residences get the best terms; second homes and rentals are possible.
Borrower factors
Lenders weigh credit history, income stability, and DTI. Unlike a purchase loan, the key lever is your available equity — strong equity can offset other factors.
Property factors
Primary residences get the widest options and best pricing. Second homes and investment properties can qualify with select lenders at lower CLTV and higher rates. Condos and 2–4 units are generally eligible.
Frequently asked questions
Can I qualify if I’m self-employed?
Yes. Some lenders accept bank-statement documentation for HELOCs. We match you to one that reads self-employed income fairly.
Does a HELOC affect my first mortgage?
No — it’s a separate second lien. Your existing first mortgage and its rate stay untouched, which is a key advantage over a cash-out refinance.
Can I get a HELOC on a second home?
Often yes, with select lenders, usually at a lower maximum CLTV than a primary residence.
Save Financial is a California-licensed mortgage brokerage (NMLS #377740, DRE #01875766). Figures are illustrative for 2026 and not an offer of credit.