Denied for a HELOC? Try This Bank Statement HELOC Strategy

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Издатель Jun 27, 2026

Are you self-employed and struggling to qualify for a traditional HELOC because your tax returns don’t show enough income?

In this video, I explain how a Bank Statement HELOC can help business owners and 1099 contractors access home equity using bank statements instead of tax returns.

Many self-employed borrowers have strong businesses, high deposits, and plenty of equity, but still get denied by banks because of write-offs on their tax returns. A bank statement home equity line of credit may be a better option because lenders can use 12 or 24 months of business or personal bank statements to calculate qualifying income.

In this video, I cover:
✅ What a Bank Statement HELOC is
✅ Who qualifies for a bank statement home equity line of credit
✅ How lenders calculate income using bank statements
✅ 50% expense factor vs lower expense factors
✅ Minimum credit score requirements
✅ How much equity you may be able to access
✅ HELOC draw periods and repayment terms
✅ Interest rates on bank statement HELOCs
✅ When a self-employed borrower should consider this option
✅ How to use home equity wisely for debt consolidation, business growth, or real estate investing

A Bank Statement HELOC is not for everyone, and interest rates can be higher than traditional HELOCs. But for self-employed homeowners who were denied by a bank, this type of loan can be a powerful way to access equity without relying only on tax returns.

If you are self-employed, have strong bank deposits, and want to see whether you qualify for a Bank Statement HELOC, reach out to Andes Mortgage today.