Qualified on your bank statements — not your tax returns.

Yes. A bank-statement HELOC qualifies you on 12 months of deposits into the account your business revenue flows through, instead of on the net income reported on your tax returns. You do not provide 1040s, Schedule C, K-1s, a profit-and-loss statement or a CPA letter. Every application is still subject to credit approval, verified property value and program guidelines.

About two minutes. You authorize a secure, read-only connection to the account your revenue lands in and the full 12-month history is returned automatically. There are no statements to download, no PDFs to email, and no documents to request from your accountant.

No. Neither is required. The income side of the file is built entirely from the bank data you connect, which is why the step that used to take weeks now takes minutes.

Because a traditional lender has to use your net income after deductions, not your revenue. Equipment write-offs, mileage, home office, insurance and depreciation all legitimately lower that number, and the debt-to-income math is run against the smaller figure.

Twelve. They come from the account your business revenue is deposited into, and the full twelve-month period is reviewed so seasonal swings read as seasonality rather than as risk.

Not all of it. An expense factor is applied to your deposits to arrive at usable qualifying income, and that factor depends on which program your file fits — there is no single percentage that applies to every borrower. The fastest way to get a real number is a short conversation and a soft credit pull, neither of which affects your score.

Pre-qualification uses a soft credit pull, which does not affect your score. A hard pull only happens later, if you decide to move forward with a full application.

No. The line can sit in first, second or third lien position, and your existing first mortgage and its rate are left alone. For anyone holding a low rate from a few years ago, that is usually the entire point.

Fixed. Each draw is locked at the rate in effect when you take it, on a term of 10, 15, 20 or 30 years. Payments include principal and interest from the first payment — no interest-only period and no balloon. Interest accrues daily on your outstanding principal only, and there is no prepayment penalty.

Yes. Working capital, equipment, payroll gaps, buying out a partner, or consolidating higher-cost business debt are all common uses. The honest caveat is that it is secured by your home, so business risk becomes household risk.

Most lines up to $400,000 close using an automated valuation with no appraisal appointment and nobody walking through your house. Lines above $400,000 require a full appraisal and stricter qualifying.

Properties in 30 states. It is not available in New York, and Texas has its own home-equity rules and a longer required timeline. Second homes and investment properties follow different guidelines.