Charlotte, NC, December 5, 2025
Deephaven Mortgage has introduced the Equity Advantage HELOC, a home equity line of credit designed for self-employed individuals in Charlotte, NC. This new financing option allows borrowers to tap into their home equity without refinancing existing low-rate mortgages, utilizing 12 months of bank statements for qualification instead of traditional tax returns. With loan amounts up to $400,000 and flexible terms, this initiative supports local entrepreneurs seeking accessible funding amid Charlotte’s thriving business environment.
Deephaven Mortgage Unveils Innovative Equity Advantage HELOC
New financing option empowers self-employed individuals in Charlotte, NC
Charlotte, N.C. – In a remarkable move to enhance financial accessibility, Deephaven Mortgage has launched its Equity Advantage HELOC, a home equity line of credit specifically designed for borrowers seeking to leverage their home’s equity without the burden of refinancing their current low-rate mortgages. This innovative product particularly caters to the needs of self-employed individuals, offering a unique qualification option that relies on 12 months of personal or business bank statements as opposed to traditional tax returns.
The launch of this product comes at a time when Charlotte’s entrepreneurial spirit is thriving. Local business owners are increasingly seeking flexible financing solutions to navigate the challenges of fluctuating incomes and the desire to maintain favorable mortgage rates. With the Equity Advantage HELOC, Deephaven Mortgage is stepping up to provide a solution that offers significant advantages to self-employed borrowers who have often found themselves at a disadvantage in obtaining traditional financing.
Key Features of the Equity Advantage HELOC
This new HELOC product presents several beneficial features including:
- Loan amounts ranging from $50,000 to $400,000.
- Debt-to-income (DTI) ratios of up to 50%.
- Combined loan-to-value (CLTV) ratios set at 90% for primary residences, 85% for secondary residences, and 75% for investment properties.
- Qualification options utilizing 12 months of personal or business bank statements or full documentation.
- A variable interest rate structure featuring a five-year interest-only draw period, a 30-year maturity, and a 25-year amortization term.
- Minimum FICO scores of 660 for primary and secondary homes, and 700 for investment properties.
Supporting Local Entrepreneurs
Deephaven Mortgage’s approach to managing the entire lending process—from disclosure through to funding—ensures that loan officers have ongoing support. This seamless process is designed to facilitate increased market participation, particularly among self-employed borrowers who have historically faced greater obstacles in qualifying for financing. In a market increasingly focused on the dynamic nature of entrepreneurship, this initiative represents a thoughtful response to the needs of the local business community.
Market Insights
The timing of the Equity Advantage HELOC launch is particularly noteworthy given the expected growth in the second lien market. With projections estimating that originations will surpass $100 billion this year and potentially exceed $150 billion by 2026, Deephaven Mortgage is well-positioned to capture a significant share of this burgeoning market. The increased demand highlights a broader trend toward innovative lending solutions that prioritize flexibility and accessibility.
Conclusion
In summary, the Equity Advantage HELOC from Deephaven Mortgage stands as a promising option for self-employed individuals in the Charlotte area, seeking to tap into their home equity without the complications of refinancing. This initiative not only supports local entrepreneurs but also embodies a broader economic growth strategy that emphasizes innovation, accessibility, and community engagement. As Charlotte’s economy continues to evolve, initiatives like these are crucial in fostering a conducive environment for business growth and development.
For those interested in exploring this financing option, consider reaching out to learn more about how the Equity Advantage HELOC could benefit your financial situation.
Frequently Asked Questions (FAQ)
What is the Equity Advantage HELOC?
The Equity Advantage HELOC is a home equity line of credit offered by Deephaven Mortgage, allowing borrowers to access their home’s equity without refinancing existing low-rate mortgages. It includes an option for self-employed borrowers to qualify based on 12 months of personal or business bank statements instead of tax returns.
What are the loan amounts and qualification criteria for the Equity Advantage HELOC?
The Equity Advantage HELOC offers loan amounts ranging from $50,000 to $400,000, with a debt-to-income (DTI) ratio up to 50%. The maximum combined loan-to-value (CLTV) ratios are 90% for primary residences, 85% for secondary residences, and 75% for investment properties. Borrowers can qualify using 12 months of personal or business bank statements or provide full documentation. The product features a variable interest rate with a five-year interest-only draw period, a 30-year maturity, and a 25-year amortization term. Minimum FICO scores are 660 for primary and secondary homes and 700 for investment properties.
How does Deephaven Mortgage support loan officers in the lending process?
Deephaven Mortgage manages the entire lending process—from disclosure through funding—and offers ongoing support to loan officers, facilitating increased market participation. This approach aims to address the needs of self-employed borrowers who may find it challenging to qualify for traditional financing options.
What is the projected growth of the second lien market?
The second lien market is expected to surpass $100 billion in originations this year and is projected to exceed $150 billion by 2026.
Key Features of the Equity Advantage HELOC
| Feature | Details |
|---|---|
| Loan Amounts | $50,000 to $400,000 |
| Debt-to-Income Ratio | Up to 50% |
| Combined Loan-to-Value Ratios | 90% for primary residences, 85% for secondary residences, 75% for investment properties |
| Qualification Options | 12 months of personal or business bank statements or full documentation |
| Interest Rate Structure | Variable rate with a five-year interest-only draw period, a 30-year maturity, and a 25-year amortization term |
| Minimum FICO Scores | 660 for primary and secondary homes, 700 for investment properties |
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