No-doc HELOC: a true line of credit with no income verification
No tax returns. No pay stubs. No bank statements. No debt-to-income ratio.
Our no-doc HELOC program qualifies you on two things: your credit scores and your equity position.
We offer it on your primary home and on your rental property, up to 60% combined loan-to-value, with lines from $75,000. Most “no-doc” pages are really bank statement loans or some other Non-QM structure with alternative income. This one isn’t that.
- Home or rental
- Vacant rentals OK
- No prepayment penalty
Edited by Marcos Zambrano, President & Owner, NMLS #988935
Andes Mortgage LLC, NMLS #2187991
Updated September 2026
no tax returns, pay stubs, or bank statements
combined loan-to-value
credit score (700 on your primary home)
minimum line, up to $350,000
How much could a no-doc HELOC give you?
Slide in your value and what you owe. We’ll show your line at our maximum CLTV.
What "no doc" really means, and what we still check for the program
“No doc” or no documentation means we don’t verify your income. It doesn’t mean we skip everything. Here’s what’s needed and what’s not.
- Tax returns, W-2s, or 1099s
- Pay stubs or employment verification
- Bank statements or a CPA letter
- A debt-to-income ratio
- On rentals: leases, rent rolls, or a DSCR
- Reserves or cash in the bank
- Your credit report and score
- 12 months of on-time mortgage payments
- Time since a bankruptcy (3 years), foreclosure (4 years), or short sale (2 years)
- A full appraisal of the property
- Title, homeowners insurance, and your current mortgage statement
- Your ID, and that you're on title today
On your home or on your rental property
For the home you live in. We qualify you on credit and equity alone.
Max CLTV
60%
Credit
700+
Line
$75,000 to $350,000
Available on
Primary homes in Georgia, Florida, South Carolina, and Alabama
A business-purpose line for investment properties, vacant or rented. No income, no lease, no DSCR.
Max CLTV
60% single-family, 55% condos, 50% for 2–4 units
Credit
680+ (700+ for condos and 2–4 units)
Line
$75,000 to $350,000
Vesting
Your name or your LLC
Available in
Most states
When a no-doc HELOC is the right move, even at a higher rate
We are very up front about this program.
Yes, the rate is higher than a documented HELOC. On a rental property, rates run about 4-5 points over prime. That’s the price of not proving income or having the ability to put this on a vacant property. For the right person, it’s the only door that opens.
Here are two very real scenarios where a No-Doc HELOC can help.
Maybe you’re retired, between jobs, or your income is real but impossible to document. No income to verify, no assets to show, your DTI is through the roof and no other lender will look at you.
If you have strong credit and real equity, we can.
A DSCR HELOC needs rent to cover the payment and have room to spare.
A vacant home, a property between tenants, or one mid-rehab can’t show that. The no-doc HELOC doesn’t ask, so you can fund the rehab or lease-up now.
Use it as a bridge, not a forever loan
There’s no prepayment penalty, so the higher rate can be temporary:
Open the line on credit and equity alone, and use it for the rehab, the next down payment, or whatever needs funding.
Lease the rental, finish the rehab, or build the income history you couldn’t document before.
Once the rent or the income is there, move to our DSCR HELOC or bank statement HELOC and pay this line off.
A HELOC is secured by your property. Before you borrow against your home, have a clear plan to cover the monthly payment. We’ll walk through that with you, and if a documented program fits better, we’ll tell you.
One requirement to know up front - The required minimum draw at closing
Our no-doc HELOC requires you to draw at least 95% of the line at closing, and then there’s a 90-day wait before you can draw again.
So up front, it works a lot like a home equity loan: you get most of the money on day one, and your interest-only payment starts right away on that amount. After that, as you pay down principal, the room reopens and you can draw again.
Plan your line around what you need now, not what you might need someday.
You draw $95,000 at closing
At about 11.75% (prime + about 5%), interest-only
starting with your first payment
Not a quote. For illustration only.
No-doc vs. bank statement vs. DSCR HELOC
If you can document income or rent, you’ll usually get more money at a lower rate. Here’s how they compare:
|
|
No-doc HELOC
|
Bank statement HELOC
|
DSCR HELOC
|
|---|---|---|---|
|
How you qualify
|
Credit and equity only
|
12 or 24 months of bank deposits
|
The property's rent
|
|
Max CLTV
|
60%
|
Up to 90% on primary, 75% on rentals
|
70%
|
|
Home or rental
|
Both
|
Both
|
Rental only
|
|
Rate
|
Highest
|
Lower
|
Lower
|
|
Best for
|
No documentable income, vacant rentals
|
Self-employed borrowers
|
Rentals that cover their payment
|
|
|
You're here
|
Where we offer the no-doc HELOC
Available on primary homes in Georgia, Florida, South Carolina, and Alabama.
Available in most states as a business-purpose line, including homes that are vacant or between tenants.
No-doc HELOC requirements
|
Requirement
|
Our no-doc HELOC
|
|---|---|
|
Income documentation
|
None: no tax returns, pay stubs, bank statements, DTI, or DSCR
|
|
Max CLTV
|
60% on your home; on rentals, 60% single-family, 55% condos, 50% for 2–4 units
|
|
Credit score
|
700+ on your home; 680+ on single-family rentals, 700+ on condo and 2–4 unit rentals
|
|
Line amount
|
$75,000 minimum, up to $350,000
|
|
Draw at closing
|
At least 95% of the line, then a 90-day wait before new draws
|
|
Structure
|
Variable rate (prime plus a margin), interest-only draw period of 3 or 5 years, 20- or 30-year total term
|
|
Property types
|
1–4 units, PUDs, and warrantable condos. Not eligible: manufactured homes, mixed-use, non-warrantable condos, condotels, rural properties, log homes.
|
|
Seasoning
|
Owned under 6 months: 10-point CLTV reduction. 6 to 12 months: 5 points. A year or more: none.
|
|
Credit history
|
No late mortgage payments in the last 12 months; 3 years since bankruptcy, 4 since foreclosure, 2 since a short sale
|
|
Reserves
|
None required
|
|
Vesting
|
Individual or trust; LLC on rentals
|
|
Prepayment penalty
|
None
|
No-doc HELOC FAQ
What is a no-doc HELOC?
A home equity line of credit where we don’t verify your income. There are no tax returns, W-2s, pay stubs, or bank statements, and no debt-to-income ratio. We qualify you on your credit and the equity in the property only.
Can I get a HELOC with no income?
Yes. On your home, our no-doc HELOC goes up to 60% of the value with a 700+ credit score. On a rental, it goes up to 60% with no income, lease, or DSCR test. We still check your credit, your mortgage payment history, the appraisal, and title.
Is there a no-doc home equity loan?
Our no-doc option is a line of credit, but you draw at least 95% of it at closing, so up front it works a lot like a home equity loan. After a 90-day wait, you can draw again as you pay down principal.
How much can I borrow with a no-doc HELOC?
Up to 60% of the property’s value, minus what you owe. On a $500,000 home with a $150,000 mortgage, that’s about $150,000. Our minimum line is $75,000.
What credit score do I need?
700 or higher on your home. On a rental, 680 or higher for a single-family home, and 700 or higher for condos and 2–4 units.
What are the rates on a no-doc HELOC?
Higher than a documented HELOC, because we aren’t verifying income. On rentals, they run about 5 points over the prime rate. We quote your exact rate, with full disclosures, when you apply.
Is a no-doc HELOC the same as a stated-income HELOC?
No. A stated-income loan asks you to state an income that isn’t verified. Our no-doc HELOC doesn’t use income to qualify at all: no debt-to-income ratio, no DSCR.
Is a no-doc HELOC available for a property in the middle of renovations?
No. The no-doc HELOC is not available on properties in the middle of major rehab or renovations.
Can I get a no-doc HELOC on a rental property?
Yes. It’s a business-purpose line for investment properties, including vacant ones. You can close in an LLC, and we offer it in most states.
Where is the no-doc HELOC available?
On your home: Georgia, Florida, South Carolina, and Alabama. On a rental: most states, except Texas, New York, Hawaii, Arizona, California, Maryland, Minnesota, Nevada, and Michigan.
Is there a prepayment penalty?
No. Pay it down or off whenever you want, which makes it a practical bridge until a lower-rate option fits.
These are the terms of the no-doc HELOC program Andes Mortgage places through its lending partners today. Programs change, and your specific terms depend on a full review of your file.
This is general information, not a commitment to lend. Andes Mortgage LLC, NMLS #2187991.
Explore other HELOCs available at Andes Mortgage
Self-employed? Qualify on deposits, up to 75% CLTV.
Qualify on the rent, up to 70% CLTV.
Every way we qualify a line on a rental.
How home equity lines work, start to finish.
No income to show? Your equity can still work for you.
See your number in about 20 seconds, then start your application or talk it through with us.
Call or text
Email us
Our hours
No-doc HELOC availability: on primary homes, available only in Georgia, Florida, South Carolina, and Alabama; Texas properties are not eligible. As a business-purpose line on investment properties, not available in Texas, New York, Hawaii, Arizona, California, Maryland, Minnesota, Nevada, or Michigan. Rates and payments shown are illustrations, not quotes.