NextUs Launches Non-QM-Friendly Home Equity Product: HELOAN – NMP Skip to main content

NextUs Launches Non-QM-Friendly Home Equity Product: HELOAN

Nov 07, 2022
Home Equity

Allows borrowers to take cash out of their built-up equity and preserve their low first mortgage rate.

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NextUs Lending is debuting our unique Home Equity Loan (HELOAN), a standalone second-mortgage program designed to go behind low-interest rate NonQM, QM, and Non-Owner-Occupied first mortgages. 

Tapping the $7 Trillion Home Equity Boom

Our HELOAN allows you to tap into the $7 trillion home-equity market, expand your product portfolio, and market to your previous clients. Ideal borrowers are homeowners and investors who purchased or refinanced within the last few years with low interest rates.

This program allows borrowers to take cash out of their built-up equity and preserve their low first mortgage rate.

Details about the HELOAN

  • FICOs start at 660. 
  • At 720 FICO, Full Doc max at 90% CLTVs and 85% for Bank Statements. 
  • At 720 FICO, Non-Owner-Occupied Full Doc max 85% CLTV and 75% CLTV for Bank Statements.
  • Loan amounts start at $75,000, max at $350,000, and combined liens max at $1.5 million.
  • The program does not require assets or reserves. 
  • Appraisals within 12 months require only a residential appraisal review. Appraisals outside 12 months require only a 2055 drive-by and residential appraisal review. 
  • Can close in as little as 30 days.

For more information on HELOAN, please contact us via email at [email protected], visit NextUsLending.com, or call (949) 769-6103.

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