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HELOC — Lendia California

What Property Types Qualify for a HELOC?

Standard HELOC products have more restrictive property type requirements than hard money or some Non-QM programs. Here is what typically qualifies and what does not.

Eligible Property Types

  • Single family residences (detached)
  • Attached single family / townhomes
  • Condominiums (warrantable; some lenders accept select non-warrantable)
  • Planned Unit Developments (PUDs)
  • 2–4 unit properties (with some lenders)

Occupancy Types

  • Primary residence: Most HELOC programs are focused here; highest CLTV available
  • Second home: Available with some lenders at lower CLTV (typically up to 80%)
  • Investment property: Fewer HELOC options; lower CLTV; Non-QM HELOC may be required

Property Condition

Unlike hard money loans, standard HELOCs require the property to be in good, habitable condition. Properties with significant deferred maintenance, structural issues, or safety hazards may not qualify. The appraisal condition rating drives this determination.

Ineligible Property Types

  • Commercial properties
  • Raw land
  • Manufactured homes (not on permanent foundation)
  • Co-ops
  • Mixed-use with more than 20% commercial use
Standard Residential PropertiesStandard HELOCs work best on well-maintained single family and condo properties in California. For investment properties or properties with condition issues, Non-QM HELOC or Wealth Builder HELOC may be better options.
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