Top No-Doc HELOC Lenders for 2025: Easier Approvals for Real Estate Investors

A home equity line of credit (HELOC) can require significant paperwork, including providing tax returns and W-2s. But what if you don’t have these documents or don’t want to hand them over? You might be interested in an alternative option called a no-doc HELOC. 

We’ve found that Truss Financial, Griffin Funding, and LBC Mortgage have the best no-doc HELOCs for people with nontraditional income sources, including real estate investors and entrepreneurs. These options still require some paperwork, but not nearly as much as full-blown HELOCs. We cover each lender in detail below so you can decide which one is best for you—and we explain when it might make sense to consider a traditional HELOC.

Table of Contents

1. What is a no-doc HELOC?
   1. Can I get a no-doc home equity loan?
2. Types of no-doc HELOCs and home equity loans 
   1. No-tax-return HELOC
   2. Stated-income HELOC
   3. DSCR loans
   4. Asset-based HELOC
3. No-doc HELOC and home equity loan lenders
   1. Truss Financial
   2. Griffin Funding
   3. LBC Mortgage
4. How do you get a no-income verification HELOC? 
   1. Can I get a fast HELOC with no appraisal via a no-doc HELOC?
5. Pros and cons of getting a HELOC without income verification
6. No-doc HELOC alternatives
   1. Traditional HELOC
   2. Home equity agreements
   3. Personal loan
   4. Cash-out refinance
7. Is a no-doc HELOC the best HELOC for easy approval?

What is a no-doc HELOC?

A no-documentation HELOC (no-doc HELOC for short) has very little income verification. Unlike with a traditional HELOC, lenders may not require tax returns, W-2s, or pay stubs. Instead, many look at your bank statements or assets you own, such as investment accounts and property.

Because they require less paperwork, the application process for a no-doc HELOC may be faster than a traditional HELOC. But because the lender is taking on more risk, you’ll likely pay a higher interest rate than a traditional loan. 

No-doc HELOCs tend to appeal to borrowers with nontraditional income sources, including:

• Self-employed individuals
• Freelancers with variable income
• Real estate investors
• Unemployed folks with major assets
• Retirees with major assets but limited income
• Those who prefer not to disclose detailed financial information

Can I get a no-doc home equity loan?

Yes. Some no-doc lenders also offer a no-income-verification home equity loan for borrowers who prefer a fixed, one-time amount instead of ongoing access to credit like a HELOC provides.

Griffin Funding (discussed below) is one example, and it allows you to apply for a home equity loan without tax returns or traditional income documentation.

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Types of no-doc HELOCs and home equity loans 

Depending on how you want to verify your ability to repay, there are different types of no-doc HELOCs. Here are the main types you might encounter: 

No-tax-return HELOC

This type allows you to apply for the HELOC without tax returns. Instead, you might need to provide other financial documents, such as bank statements or proof of assets. It’s useful if you prefer not to share your tax information.

Stated-income HELOC

Bank statement HELOCs, aka stated-income HELOCs, don’t require W-2s or tax returns either. Lenders use your bank statements (usually from the last 12 to 24 months) to assess your income. They’ll look at deposits to estimate your monthly earnings and figure out your ability to repay. It’s a solid option if you have irregular income or multiple income sources. 

DSCR loans

DSCR stands for “debt service coverage ratio.” These loans are typically used for real estate investors only. Instead of focusing on your personal income, lenders look at the property’s income potential compared to your mortgage debt. 

Asset-based HELOC

This type of no-doc HELOC considers your assets (investments or savings) rather than your income. It’s useful if you have most of your net worth tied up in assets but limited regular income, which can be common for retirees.

No-doc HELOC and home equity loan lenders

Truss Financial, Griffin Funding, and LBC Mortgage have some of the top no-doc HELOCs or home equity loans. Here’s a look at how each works, including minimum credit score requirements, types of loans offered, and documents you need to apply.

Truss Financial

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What to know

Truss Financial offers three types of no-doc HELOCs:

1. No tax returns
2. Bank statements
3. DSCR loans

It requires a minimum credit score of 620 and will approve loans for primary residences, second homes, and investment properties. 

None of Truss Financial’s HELOCs require an appraisal, and you can receive funding in as little as seven business days. The company prides itself on being one of the best no-doc lenders for entrepreneurs and self-employed individuals.

But Truss Financial doesn’t disclose its interest rates, and you must speak with someone via email or phone to get a quote.

HELOC details

Rates	Undisclosed
Loan amounts	Up to $3 million
Min. credit score	620

Documents required

• Bank statements (3 – 24 months)
• Proof of property ownership
• Government-issued ID
• Soft credit pull authorization
• Profit/loss statement (if applicable for self-employed)
• Rental income documentation (for DSCR loans)

*Specific documents required will vary based on the type of no-doc loan you’re applying for.

Griffin Funding

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What to know

Griffin Funding provides two types of no-doc home equity loans to self-employed borrowers, freelancers, investors, and retirees struggling to qualify with traditional lenders.

1. Bank statement loans use 12 – 24 months of bank statements to verify income.
2. DSCR loans are based on rental property income.

Unlike HELOCs, these are one-time lump sum loans rather than revolving lines of credit. To be eligible for a Griffin Funding no-doc home equity loan, you generally need:

• Sufficient home equity (minimum amount not specified)
• A good or better credit score
• DTI ratio below 50%
• Minimum 15% equity (for bank statement loans)
• Proof of ability to repay the loan (using alternative documentation)

Loan details

Rates	Not disclosed
Loan amounts	$100,000 – $950,000
Min. credit score	660

Documents required

• Bank statements (12 – 24 months for bank statement loans)
• Property assessment documentation
• Proof of home equity
• Credit report authorization
• Rent schedule form 1007 (for DSCR loans)
• Government-issued ID

Specific documents required will vary based on the type of no-doc loan you’re applying for.

LBC Mortgage

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What to know

LBC Mortgage offers no-tax-return HELOCs for self-employed individuals, freelancers, and those with irregular income. Rather than providing tax returns, these loans allow you to qualify using these verification methods:

1. Bank statements to show income over several months
2. Pay stubs and employment verification for those with regular paychecks
3. Asset-based verification for borrowers with significant savings or investments

To be eligible for an LBC Mortgage no-tax-return HELOC, you generally need:

• Sufficient home equity
• A good credit score 
• Alternative documentation to prove income or assets
• Clear explanation of income sources

LBC Mortgage’s website doesn’t disclose specific eligibility criteria, rates, or loan amounts, so you’ll need to contact the lender for more detailed information.

Documents required

• Proof of property ownership
• Recent bank statements
• Government-issued ID
• Credit report authorization
• Proof of assets (if applicable)
• Property valuation or recent appraisal

Specific documents required will vary based on the type of no-doc loan you’re applying for.

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How do you get a no-income verification HELOC? 

Applying for a HELOC with minimal verification usually looks like this: 

1. Research lenders. The LendEDU team found that Truss Financial, Griffin Funding, and LBC Mortgage have some of the best no-doc HELOCs. (We discuss each lender below.)
2. Contact the lender. Reach out to initiate the application process. 
3. Gather documentation. Collect any alternative proof you have of your financial stability, including one to two years’ worth of bank statements, asset statements, or rental income documentation.
4. Complete the application. Provide personal information and property details.
5. Undergo a credit check. Many no-doc lenders have minimum credit score requirements. For example, the minimum is generally 620 for Truss Financial and 660 for Griffin Funding.
6. Get a property appraisal. The lender may order an appraisal to determine your home’s value and available equity.
7. Underwriting process. The lender reviews your application and documentation to assess your ability to repay.
8. Receive loan terms. You’ll get details on your credit limit, interest rate, and repayment period if approved.
9. Review and accept. Examine the terms before accepting the offer.
10. Sign documents. Complete the necessary paperwork to finalize the HELOC.
11. Access funds. Once set up, you can draw up to the approved limit from your no-doc HELOC as needed.

Can I get a fast HELOC with no appraisal via a no-doc HELOC?

Yes, in some cases, you can get a fast HELOC without a full in-person appraisal, including from some of the lenders we recommend above.

Truss Financial, for example, advertises no appraisal required for its no-doc HELOCs, which helps speed up approvals significantly. Griffin Funding may also skip the traditional appraisal if its automated valuation model (AVM) returns a strong confidence score, using an AVM and property condition report instead.

That said, most no-doc lenders still need some form of valuation to confirm how much equity you have. Alternatives like AVMs or drive-by appraisals are faster and less invasive, but they may reduce how much you’re eligible to borrow.

Overall, whether you can avoid a full appraisal and how fast you can get approved depends on the lender’s rules and the strength of your application.

Pros and cons of getting a HELOC without income verification

Before you apply for a no-doc HELOC, consider the risks and benefits.

Pros

• Easier to qualify for

  If you’re self-employed or have irregular income, you may find it easier to qualify for a no-doc HELOC than a traditional one.

• Better for privacy

  You don’t need to disclose as much detailed financial information with a no-doc HELOC.

• Faster application process

  Applying for a no-doc HELOC is often faster because you don’t need to scrounge up as much paperwork.

Cons

• Higher interest rates and fees

  You’ll likely pay a higher interest rate for a no-doc HELOC because the lender is taking on more risk by requesting less information from you. Some lenders may also charge more fees to help offset this risk.

• Easy to overextend yourself

  It may be easier to borrow more than you can afford to repay without thorough income verification.

• Fewer lender options

  With so few no-doc HELOC lenders, your pool of options is reduced if you choose to go this route. Also, many no-doc lenders have limited information online about how their products work.

No-doc HELOC alternatives

If a no-doc HELOC isn’t the right fit for you, several alternatives might be better, especially if you have irregular income or face challenges qualifying for traditional loans.

Traditional HELOC

While no-doc HELOCs offer flexibility for borrowers with nontraditional incomes, they often come with higher interest rates, fees, and limited transparency. If you can qualify for a traditional HELOC, we recommend exploring that route first—it’s often the more affordable and predictable option.

Traditional HELOCs typically require more paperwork, such as tax returns and proof of income, but the trade-off is better terms. You may qualify for:

• Lower interest rates
• Fewer fees
• Higher credit limits
• More lender options and online transparency

If you have a stable income, a solid credit score, and don’t mind the paperwork, a traditional HELOC can save you money in the long run and reduce your financial risk.

Here are two standout traditional HELOC providers to consider.

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Read More

Best HELOC Lenders

I recommend opting first for a traditional HELOC or personal loan that may offer better terms and be less risky or prone to scams. Be sure to do your homework, looking at the lender’s reviews and checking the Better Business Bureau.

Home equity agreements

A home equity agreement (HEA) allows you to access your home’s equity in exchange for a share of your home’s future appreciation. HEAs are also known as home equity investments (HEIs), home equity contracts, or home equity sharing agreements (HESAs). They use different acronyms, but all work essentially the same. Point and Hometap are two top-rated companies that offer these agreements. 

With an HEA, you won’t make any monthly payments; you repay the amount when you sell your home or at the end of the term (often 10 to 30 years). HEAs are typically more accessible to borrowers with low credit score, making it an excellent alternative to a no-doc HELOC. Read more about how home equity agreements work.

Personal loan

Most personal loans don’t require collateral, so they may be a better option if you need a smaller loan amount or don’t want to risk your home. SoFi and Credible have some of the best personal loans with varying requirements.

You can use personal loans for any purpose, and you have a fixed monthly payment that won’t change like with a HELOC. However, the interest rates may be higher, and the loan amounts will usually be smaller because they are not secured by anything.

Cash-out refinance

A cash-out refinance is where you take out a new mortgage for a higher amount than your current mortgage and get the difference in cash. This option might work if you have major equity in your home and want to change your mortgage terms. But you’re essentially taking out a brand-new mortgage with closing costs. 

Griffin Funding offers DSCR cash-out refinances for real estate investors. 

If you decide a no-doc HELOC is right for you, ensure that the repayment terms fit your budget, understand how it will affect your credit score, and know whether this loan type is in line with your financial plan. (When in doubt, consult a financial professional.)

Is a no-doc HELOC the best HELOC for easy approval?

A no-doc HELOC can be easier to qualify for than a traditional HELOC, but it tends to be most helpful in a few specific situations:

• You’re self-employed or have nontraditional income. If your tax returns don’t clearly show your true earnings, a no-doc lender may be more flexible in how it reviews income.
• You’re a real estate investor. Some lenders can evaluate rental income or DSCR instead of relying on standard employment documents.
• Your credit is borderline for a traditional HELOC. Certain no-doc lenders may consider alternative documentation when traditional lenders will not. If your score is too low for any HELOC, a home equity agreement may be more accessible.

Just keep in mind that the easier HELOC approval typically comes with trade-offs, such as higher rates, tighter borrowing limits, and fewer lenders to choose from.

Recap of no-doc HELOC and home equity loan lenders