Deephaven Mortgage LLC has expanded its Equity Advantage HELOC product for wholesale and correspondent partners in 2026. The maximum line amount has doubled to $1 million, with eligibility extended to borrowers in Texas and 44 other states. The product allows title vesting in an LLC and permits co-borrowers with a minimum credit score of 620. Deephaven aims to help partners compete in a robust HELOC market driven by high homeowner equity and significant home renovation spending projections. The product targets non-traditional borrowers and offers alternative qualification methods.
"The non-QM lender's digital first- and second-lien HELOC now offers a maximum line of $1,000,000, up from $500,000, with a minimum of $50,000."
"Davis described current demand as a generational opportunity, citing strong homeowner equity levels and projections of roughly $600 billion in home renovation spending in 2026."
"The Equity Advantage HELOC targets borrowers who may not fit traditional agency guidelines, including self-employed borrowers who cannot qualify with standard income documentation."
Read at www.housingwire.com
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