Angel Oak Debuts HELOC For Self-Employed Borrowers
Non-QM leader Angel Oak Mortgage Solutions released a new HELOC for the self-employed.
The Bank Statement HELOC allows qualified borrowers to retain their first mortgage while accessing their homes’ equity. It uses trailing 12- or 24-month bank statements as the deciding factor and provides a line of credit with no restrictions on usage.
This offer is available for owner-occupied homes, second homes, or investment properties.
American homes currently have $32 trillion in equity built up, a record high. Angel Oak says about 16 million people are self-employed, many of whom own homes they can’t extract wealth from through traditional avenues.
“Angel Oak’s commitment to alternative mortgage solutions has allowed us to establish our reputation as a leader and innovator within…