| Guideline | HELOC – Second Lien (Primary) | HELOC – Standalone | HELOC – Standalone (Alt Tier) | HELOC – Multi‑Lien Program | HELOC – Second Lien (Investment) | HELOC – First Lien | HELOC – Standalone | HELOC – Piggyback |
|---|
| Minimum Credit Score | 680 | 680 | 640 | 640 min FICO (matrix includes 600–639 tier for certain scenarios) | 680 | 640 | 680 | 680 |
| Max CLTV | Up to ~95% (state/property dependent) | Up to 85% CLTV | Up to 85% CLTV | Up to 85% (Primary 1st/2nd lien; tiered by FICO/loan amount); 70% for some 2nd home/investment tiers; 3rd lien max 70% | ≤65% (1–2 units); ≤50% (3–4 units); up to 80% CLTV with 720+ (1-unit) | Up to 95% (1-unit primary); declining market caps apply | Up to 85% CLTV | Up to 85% CLTV |
| Maximum DTI | 43–45% standard; exception up to ~49.99% (comp factors) | Up to 50% | Up to 50% | 50% max DTI (1 unit); 45% max DTI (2–4 units and FICO ≤ 639); 30% max PTI | Risk-based; DTI and DSCR evaluated (no hard cap stated) | 45% | Up to 50% | Up to 50% |
| Draw Period | 10-year draw (typical HELOC) | 3- or 5-year draw | 3- or 5-year draw | Draw period depends on term: 10yr=3y, 15yr=4y, 20yr=4y, 30yr=5y | 5 years | 10 years | 3- or 5-year draw | 3- or 5-year draw |
| Property Eligibility | 1–2 unit SFR/PUD; FNMA-approved condos (program restrictions apply) | SFR, PUD, Condos | SFR, PUD, Condos | Eligible: SFR, Townhomes, PUD, Condos (mid/high-rise), 2–4 units; Fee simple only (see ineligible list) | 1–4 unit residential, PUDs, warrantable condos, townhomes | 1–4 unit, PUDs, warrantable condos, townhomes | SFR, PUDs, Condos | SFR, PUDs, Condos |
| Occupancy Type | Primary residence; Second home | Primary, Second home, Investment | Primary, Second home, Investment | Primary, Second home, Investment (NM & TX: 2nd home/investment ineligible in certain cases) | Investment only | Primary Residence, Second Home, Investment (restricted) | Primary, Second Home, Investment | Primary residence only |
| Eligible Lien Positions | 2nd lien only | Standalone (1st or 2nd, per UWM program) | Standalone (1st or 2nd, per UWM program) | Primary: 1st/2nd/3rd lien allowed (TX: no 3rd); 2nd home/investment: 1st/2nd lien | Second lien only | First lien only | Standalone (1st or 2nd per UWM) | Piggyback (simultaneous 2nd lien) |
| Minimum Loan Amount | $25,000 | $25,000 (minimum line) | $25,000 (minimum line) | $25,000 (most states); MI $10,000; TX $35,000 | $25,000 | $50,000 | $25,000 | $25,000 |
| Maximum Loan Amount | Varies by program/state (not specified in provided docs) | $500,000 (line amount) | $500,000 (line amount) | Up to $750,000 (tiered; e.g., $750k at 75% CLTV and 760+ in matrix) | $250,000 | $750,000 | $500,000 | $500,000 |
| Other Notes / Restrictions | Underwriting and state/property caps apply; HELOC Express product. | Program tier: Pink; valuation options vary by loan amount. | Program tier: Yellow; designed for lower-score entry vs Pink. | Standalone only; full draw required at closing; no using funds to pay off debt to qualify; TX has additional restrictions; FL condos max 70% CLTV. | Investment HELOC only. Interest-only during draw. Prime rate index; floor 6.95%; annual cap ±2%; lifetime cap 18%. 3–4 units prohibited in declining markets. Florida condos capped at 70% CLTV. | Texas not eligible. Florida condo restrictions apply. Declining market LTV caps enforced. Bank statements permitted only for specific self-employed scenarios. DSCR applies to investment transactions. | Pink pricing tier; valuation varies by loan amount | Must be paired with UWM first lien; purchase/refi only |
