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Wealth Builder HELOC — Lendia California

What Property Types Are Eligible for the Wealth Builder HELOC?

The Wealth Builder HELOC is available on a range of residential property types in California. However, not all property types qualify, and certain property conditions can affect eligibility. Here is what you need to know.

Eligible Property Types

  • Single family residences (detached)
  • Attached single family residences (townhomes)
  • Condominiums (warrantable and select non-warrantable)
  • Planned Unit Developments (PUDs)
  • 2–4 unit residential properties

Occupancy Types

  • Primary residence
  • Second home
  • Investment property

Ineligible Property Types

  • Commercial property
  • Raw land or lots
  • Manufactured homes (not on permanent foundation)
  • Co-ops
  • Properties with significant deferred maintenance
  • Properties with active litigation (HOA or title)

Appraisal and Condition Requirements

All properties must meet the program’s appraisal standards. Properties with condition ratings that reflect significant deferred maintenance, safety hazards, or major systems in disrepair may not be eligible. For loans above $2,000,000, two independent appraisals are required. The lender also reviews Collateral Underwriter (CU) and LCA risk scores from the appraisal submission.

Property Condition MattersEven if your property type is eligible, its condition as reflected in the appraisal can affect approval. Properties with deferred maintenance or unusual characteristics may require additional review.
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