Firm Manages the Full Lending Process to Help Channel Accelerate Sales

Deephaven Mortgage, a leading non-QM lender, has launched its Equity Advantage HELOC product to give its wholesale and correspondent partners a new competitive advantage in the surging second lien market, which is expected to surpass $100 billion in originations this year. In 2026, the second lien market is predicted to grow to over $150 billion.

The standalone home equity line of credit (HELOC) includes an option for self-employed borrowers to qualify based on 12 months of personal or business bank statements in lieu of tax returns. To make it easier for loan officers (LO) to increase their market participation, Deephaven manages the full lending process—from disclosure through funding—and provides ongoing support.

Like Deephaven’s previously launched Equity Advantage Closed End Second product, the new bank statement HELOC gives borrowers funding to pay down debt, renovate their homes, or invest in new properties without giving up their existing low-interest-rate mortgage. About 85% of homeowners enjoy rates below 5% on their primary homes, and would forfeit these rates through alternatives like cash-out refinancing.

“The home equity market remains strong,” said Tom Davis, Chief Sales Officer, Deephaven Mortgage. “U.S. homeowners have more than $11 trillion in tappable equity; trillions of dollars more in credit card, automobile and student loan debt; and a need to renovate their aging homes. Our bank statement HELOC helps Deephaven’s partners respond, with alternative documentation options for underserved borrowers such as the self-employed.”

Highlights of Deephaven’s Equity Advantage HELOC solution include:

• Loan amounts from $50,000-$400,000
• 50% DTI
• A maximum CLTV of 90% for primary residences, 85% for secondary residences, and 75% for investment properties
• A minimum FICO of 660 for primary and secondary homes, and 700 for investment properties
• Qualification through 12 months of personal or business bank statements, or one year’s full documentation
• Variable rate: 5-year interest-only draw; 30-year maturity; 25-year amortization term

The solution also includes Deephaven’s full account executive support before and during the HELOC process, HELOC Quick Pricer for instant rate scenarios, Bank Statement Scenario Desk, and borrower-paid origination fee options, as regulated by individual state laws. The firm’s hybrid model enables LOs to participate as little or as much as they prefer in loan creation.

For more information, please contact Davis at tdavis@deephavenmortgage.com.

About Deephaven Mortgage

Founded in 2012, Deephaven led the creation and development of the non-QM/non-Agency mortgage market and makes its loans available through mortgage brokers and loan officers, in addition to buying loans from correspondents. For more information, see deephavenmortgage.com.

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Deephaven’s new bank statement HELOC gives borrowers funding to pay down debt, renovate their homes, or invest in new properties without giving up their existing low-interest-rate mortgage.