2 min read

Your Key to HELOC: Strategies for Securing Loans without Tax Returns

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For most people, owning a home is more than just having a roof over your heads; it's also a substantial financial investment. The equity that you accumulate in your home over time can become a valuable asset that you can tap into for various purposes such as home improvements, education expenses, or even to consolidate higher-interest debt. One popular way to access this equity is through a Home Equity Line of Credit, commonly known as HELOC. But what if you're an individual who, for whatever reason, cannot produce traditional tax returns? Can you still secure a HELOC without tax returns? Yes, it's possible.

What is a HELOC?

A HELOC operates similarly to a credit card. The lender will give you a credit limit based on the equity in your home, and you can borrow up to that amount during the draw period, which usually lasts five to ten years. When the draw period ends, you enter the repayment period where you must start paying back both the principal and the interest.

HELOCs and Tax Returns

Typically, lenders use tax returns as a way to verify your income. This helps them assess your ability to repay the borrowed funds. But what if you're self-employed, a business owner, or perhaps have a unique circumstance where your income isn't easily verifiable through traditional tax returns?

The good news is that there are alternatives. While the process may be more complicated, obtaining a HELOC without tax returns is certainly not impossible. Let's delve into how you can achieve this.

How to Obtain a HELOC Without Tax Returns FROM TRUSS FINANCIAL GROUP:


Bank Statement HELOC Loans

At Truss Financial Group, we have a unique bank statement HELOC option available. Our team will carefully examine your bank deposit history from the last 3-12 months to determine your income.

No-Income Verification HELOC Loans

Another route you could consider is a no-income verification loan, also known as a "stated income" loan. These loans require no income verification at all, and the lender bases the loan amount on your credit score and the appraised value of your home. It's worth noting that these loans often come with higher interest rates due to the increased risk to the lender.


If you have other assets, such as another property, or large savings, you may be able to use this as collateral to secure your HELOC. At Truss Financial Group, we thoroughly review all of your financial assets in order to maximize your chances of getting approved for a stated income HELOC.

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