It depends on the specific program. Most standard Non-QM HELOCs are structured as second-lien products — behind an existing first mortgage. However, some Non-QM lenders do offer first-lien HELOC options for borrowers who want to replace their mortgage entirely.

Standard Non-QM HELOC — Second Lien

The most common Non-QM HELOC structure is a second lien — the HELOC sits behind your existing first mortgage. You retain your current first mortgage and access additional equity through the HELOC. This is simpler and more widely available but limits the size of the equity line.

First-Lien Non-QM HELOC Options

Some Non-QM lenders do offer first-lien HELOC products for borrowers who want to replace their existing mortgage with a revolving line. These are less common and typically come with specific LTV, FICO, and income documentation requirements. The Wealth Builder HELOC offered through Lendia’s wholesale partner is one example of a structured first-lien HELOC program.

Wealth Builder HELOC as an Alternative

For borrowers who want a first-lien HELOC with Non-QM income documentation options, the Wealth Builder HELOC may be the better fit — it is purpose-built as a first-lien product with bank statement and asset depletion income options. Contact Lendia to compare both options for your scenario.