Business Purpose HELOC
A revolving line against the equity in your home, funded in full to your business bank account, with room to redraw as you repay during your redraw period. This page covers the specifics: what has to be true, what gets checked, what you will be asked for, and how the offer becomes final. For the full walk-through of the process, start on the home page.
Applying is a soft credit pull only and does not affect your score.
Four things,
and the rest is process.
You own and operate a business
The money must be used for a business purpose and is deposited into a business bank account. That business-purpose rule is what makes this a commercial loan rather than a consumer one.
Who it fits →The home is titled in your personal name
Not in an LLC or another company. If it is, a quit-claim deed into your own name comes first, and we can help with that. A trust may be workable; ask us before applying.
The LLC path →Debt-to-income at or below 50%
Your monthly debt payments compared with the monthly income the lender can verify. This is the number that turns a conditional pre-approval into a final offer, and it is calculated only from accounts you connect.
How income is verified →Enough unborrowed value in the home
An existing mortgage is fine. The lender adds your mortgage and the new loan together and compares the total with the home's value. The more equity you have, the more room there is.
Valuation and equity →Eight checks,
most of them invisible.
Almost all of these run without you. The ones that can stall a file are a credit freeze you forgot about and an income picture that is missing accounts. How to avoid delays.
Identity
Your identity is confirmed against your ID and application.
Credit
Soft pull to apply. Hard pull once you accept the pre-approval offer.
Fraud alerts and freezes
Any freeze on your credit has to be lifted before the file can move.
Automated valuation
An estimate of the home's value from recent sales and public records. An appraisal only if that cannot support the loan.
Ownership and vesting
Confirmation that you are on title, in your personal name.
Income
Read from the bank accounts you connect, or from two years of tax returns if the connection cannot confirm it.
Title
A review for liens, judgments, or name mismatches that need clearing before closing.
Insurance
Confirmation that homeowner's insurance is in place on the property.
Two offers,
one verification between them.
Pre-approval
Issued after the soft pull and application review. Shows a proposed amount, rate, and terms. Conditional.
Income verified
The lender confirms your income and debt-to-income ratio. Anything in the pre-approval can move based on what it finds.
Final offer
Issued once income is confirmed. When you accept it, the amount, rate, and terms are locked and the file moves to title.
Two credit pulls, told in advance. Applying is a soft pull. Accepting the pre-approval is a hard pull that appears on your report. Nothing else touches your credit. Full detail in income verification on the home page.
Have these
within reach.
Many files need very little. When something is requested, a clear, complete copy the same day is what keeps the file moving. Valuation, title, and closing.
A valid, unexpired government photo ID for the notary session.
Online banking access for every business and personal account, for the secure bank connection.
Your most recent mortgage statement, so the balance on file matches the one you entered.
Your homeowner's insurance declarations page.
A payoff statement for the lien the loan will retire.
Two years of business and two years of personal tax returns, every page and schedule, plus the IRS extension letter if the latest year is unfiled.
The appraisal fee, paid through a secure payment link.
A signed waiver of the waiting period after closing, if you want funding sooner.
Everything else lives on the home page.
What owners use it for
Merchant cash advance payoff first, then inventory, payroll, equipment, expansion.
Read →The twelve steps
Who does what, from application to funding.
Read →Funding timeline
The waiting period, recording, and the deposit.
Read →Where your file stands
The stage names you will hear when you ask.
Read →Questions
Fifteen of them, answered plainly.
Read →Start with the soft pull.
We'll take it from there.
The application takes a few minutes and does not touch your credit. Have your mortgage statement nearby so the figures you enter match it, and we will take it from there.
Capova Capital LLC. Business-purpose financing secured by residential real estate. This is not a commitment to lend and not a consumer mortgage product. Offers are conditional until income is verified and are subject to credit approval, property valuation, and underwriting. Secured financing places the pledged property at risk if not repaid.