Non-QM HELOC programs tend to support a wider range of property types than conventional HELOCs, particularly for investment properties — which are rarely supported by standard HELOC products.

Eligible Property Types

• Single family residences (primary, second home, investment)
• Condominiums (warrantable and select non-warrantable)
• Townhomes and attached single family
• 2–4 unit residential properties
• Some 5+ unit multifamily properties (selected Non-QM programs)
• Short-term rental properties (with DSCR or rental income documentation)

Investment Property Advantage

One of the key advantages of Non-QM HELOC products over conventional HELOCs is the ability to draw equity from investment properties. Conventional HELOC programs rarely support investment properties — Non-QM programs built around DSCR or investor qualification allow investors to access equity from their rental portfolios.

Property Condition

Like conventional HELOCs, Non-QM HELOCs still require properties to be in reasonable, habitable condition. Significant deferred maintenance or properties in disrepair may not qualify even for Non-QM programs. An appraisal is required to verify condition.

Ineligible Property Types

• Raw land or lots
• Commercial-only properties
• Co-ops
• Manufactured homes not on permanent foundation