HELOC. Six states.
Leave the first mortgage alone.
Take the cash. The first stays. GA, FL, TN, AL, NC, SC only. Up to $1M on a bank-statement or DSCR line. No hard pull to send. We text. We do not call.
Killing a 3% first to get cash is a bad trade.
- The first mortgage stays. Do not refinance a cheap rate just to get cash.
- HELOC only in GA, FL, TN, AL, NC, and SC.
- Typical combined loan-to-value is 80–85%, including the first mortgage.
- Draw period is often 10 years, then the line amortizes.
- You pay interest on what you draw, not on the whole limit.
- Bank-statement HELOC to $1M. DSCR HELOC: rent qualifies, up to $1M first or $500K second.
- Outside these 6 states? HELOC is a no. DSCR is not [CONFIRM: licensed states]. Send it anyway.
Updated September 2026
Pull equity. Leave the cheap first mortgage alone. GA, FL, TN, AL, NC, SC.
A THEMONEYDOOR HELOC is a line in second position. Draw what you need. Pay interest on what you use. Only in GA, FL, TN, AL, NC, and SC. Primary, second home, or rental. If a cash-out refinance is actually cheaper, we will say so. Property outside these 6 states? HELOC is a no there. Send the DSCR. We text. We do not call.
| Screen | Guideline |
|---|---|
| First mortgage | Stays |
| Occupancy | Primary, second home, or rental |
| Combined LTV | Often 80–85%, including the first |
| Draw | Often 10 years, then the line amortizes |
| Rate | Prime plus a margin, disclosed before you sign |
| Bank-statement HELOC | Up to $1M, LLC, non-warrantable |
| DSCR HELOC | Up to $1M first or $500K second, rent qualifies |
Read the line
HELOC questions
Does a HELOC pay off my first mortgage?
No. The first mortgage stays. You draw equity in second position. That is the product.
What combined LTV do you use?
Typical combined loan-to-value is 80 to 85%, including the first mortgage. That is the screen, not a promise.
How does the line work?
The draw period is often 10 years, then the line amortizes. You pay interest on what you draw, not on the whole limit. The rate is variable: Prime plus a margin, disclosed before you sign.
Can I use bank statements?
Yes. The bank-statement HELOC goes up to $1M, allows LLC vesting, asset utilization, and non-warrantable condos.
Can the rent qualify the line?
Yes. A DSCR HELOC qualifies on property cash flow. Up to $1M first lien or $500K second lien. No personal income or job docs.
Is this only for a primary home?
No. Primary, second home, or rental.
Will the quote hit my credit?
No. The qualify form is not a hard pull and not an application. A pull happens later, with consent.
Is a HELOC the same as a home equity investment?
No. A HELOC is a line you repay. We do not market a no-payment equity share as a HELOC.
These are the guidelines we screen. They are not a promise that your file hits the maximum. Credit-event seasoning, occupancy, and property condition still have to be confirmed. Not a commitment to lend. We text. We do not call.