Non-agency products

Home Equity LoanBank statement loanJumbo SmartJumbo Payment Smart
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Special offer

10-, 15-, 20-. and 30-year fixed

Home Equity Loan

Help your clients in all 50 states take cash out of their home quickly without having to refinance using our closed-end second loan.

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Eligibility guidelines

680

Min. credit score

$45,000 - $500,000

Loan amount

Primary and secondary

Occupancy types

90%

Max. combined loan-to-value (CLTV) ratio

50%

Max. debt-to-income (DTI) ratio

Second mortgage

Loan type

Special offer

Limited time offer

Save $795 on Home Equity Loans

From now through June 30, 2025, we’ll cover your clients’ $795 origination fee on Home Equity Loans (HEL). Pass hundreds of dollars in savings to clients who need cash now.

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Every partner. Every time. No exceptions. No excuses.

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Home Equity Loan: Home Equity Loan product requires full documentation of income and assets, credit score and max loan-to-value (LTV), combined loan-to-value (CLTV), and home equity combined loan-to-value (HCLTV) ratios. Requirements were updated 2/5/2024 and are tiered as follows: 680 minimum FICO with a max LTV/CLTV/HCLTV of 80%, 700 minimum FICO with a max LTV/CLTV/HCLTV of 85%, and 740 minimum FICO with a max LTV/CLTV/HCLTV of 90%. Your debt-to-income ratio (DTI) must be 50% or below. Valid for loan amounts between $45,000.00 and $500,000.00. Product is a second standalone lien and may not be used for piggyback transactions. Product not available on Schwab products. Guidelines may vary for self-employed individuals. Some mortgages may be considered “higher priced” based on the APOR spread test. Higher priced loans are not allowed on properties located in New York. Additional restrictions apply. This is not a commitment to lend.



Home Equity Loan Promo: Clients will not be charged the origination fee (processing fee for New Jersey) on Home Equity Loans when they lock their rate on or after December 26, 2024, to June 30, 2025. Additional restrictions/conditions apply. This offer cannot be retroactively applied to previously closed loans, previously locked loans or loans with a previously disclosed Loan Estimate. Acceptance of this offer constitutes acceptance of these terms and conditions, which are subject to change at the sole discretion of Rocket Mortgage. Offer is nontransferable. Not valid with any other discounts or promotions. This is not a commitment to lend.


Automated Valuation Model (AVM): Automated valuation model (AVM) is software that uses existing property details to generate a property’s estimated value. AVM appraisals are valid only for Home Equity Loan products. Not eligible for loan amounts greater than $400,000. When eligible for an AVM, the valuation will automatically be applied. Traditional appraisals available by request. Not eligible for loans already in process. AVMs are not available in all states. Additional restrictions/exclusions may apply. This is not a commitment to lend.

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