Wholesale Options for Investor HELOC / 2nd Mortgages

We know that there are only a handful of lenders out there that offer HELOCs / 2nds, let alone for investment (or non-owner occupied) property. Looking for all HELOC lenders??? Check out our HELOC page here.

HELOCs and 2nd mortgages can be a great way to:

• Allow for cashout without touching current loan
• Avoid certain Loan Level Pricing Adjustments (LLPA)s on conventional loans
• Allow for more liquidity for your borrower

Below are a few lenders that allow brokers to offer Investment 2nd Mortgages:

1. Spring EQ- Spring EQ offers options for primary, second, and investment property Fixed 2nd Mortgages. For brokers, they have options for lender paid and borrower paid compensation. Their guidelines tend to be on the lenient side as well compared to most. They are full doc loans.
2. HomePoint - HomePoint has a lead referral program through Figure. This program allows brokers to make 1% of the line of credit. Figure does have their own pricing algorithm and qualification. For clients that qualify, it can be extremely streamlined closing in just a few days for an investment (primary + second home also available).
3. REMN - Similar to HomePoint, REMN has a loan program through Figure.
4. FundLoans - Fundloans has options with a minimum of $150,000 loan amount so you need a lot of equity to qualify. The unique guideline that FundLoans has is that they offer full doc and bank statement loan doc 2nd mortgages for investment properties.
5. LoanWyse - Primary as a NonQM lender, they offer some bank statement 2nd mortgages as well (that even allow for investment depending on LTV).

This article was updated in December 2022.