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Episode 29: Can You Get a HELOC If You Are Self-Employed?
Truss Talk
If you're self-employed, tapping into your home equity through a traditional retail bank often feels impossible.
You’ve built significant equity in your home, but the moment you hand over your tax returns, a traditional underwriter penalizes you for legal write-offs, averages down your growth, and declares your cash flow "insufficient."
In this episode of The Truss Financial Podcast, Jeff Miller (CEO) and Jason Nichols (CMO) explain how self-employed entrepreneurs, freelancers, and business owners can bypass the traditional tax return trap.
Discover how Bank Statement HELOCs allow you to qualify based on 12 months of actual bank deposits rather than taxable net income, how no-appraisal options accelerate your timeline, and what equity and credit score benchmarks you need to unlock your home's value on your terms.
In this episode, you’ll discover:
1. The Write-Off Penalty: Why traditional bank underwriting treats legal tax deductions as lost income and how Non-QM options fix it.
2. The Growth Trap: How traditional two-year tax return averaging punishes expanding businesses and holds back growing income.
3. Bank Statement Qualification: How to use 12 months of business or personal bank statements to prove your real purchasing power.
4. No-Appraisal Options: Streamlining your application with Automated Valuation Models (AVMs) to bypass physical appraiser walkthroughs.
5. Key Qualification Targets: The ideal credit scores (680+ base, 720+ for optimal rates) and equity thresholds (at least 20% remaining equity) needed for approval.
6. Proactive Financial Defense: Why the best time to open a line of credit is while your cash flow is strong—long before an emergency hits.
Get in Touch with Truss Financial Group
Self-employed and ready to unlock your home equity without showing tax returns?
Connect with our team to explore your bank statement HELOC options with zero pressure and no impact on your credit score:
Call us at: +1 888-878-7715
Contact us at: Trussfinancialgroup.com/contact
Read and Learn more about HELOCs: Trussfinancialgroup.com/blog
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