Multi-Unit HELOC
Borrow against a duplex, triplex or fourplex, whether you live in one unit or rent them all. At least one HELOC we offer accepts owner-occupied 2 to 4 unit homes from a 600 credit score.
What a multi-unit HELOC requires
Each item below is a requirement of at least one HELOC we offer.
- The building has 2 to 4 residential units. Mixed-use buildings are not eligible.
- A credit score of at least 600 if you live in the home at one program, or 680 at the program that also takes rentals.
- Debt-to-income of 45% or less on 2 to 4 units at one program, and 50% or less at the other (45% below a 680 score).
- A line of $400,000 or less at the program that takes rentals. It does not allow 2 to 4 units above that amount.
- No more than one existing lien on a 2 to 4 unit home at that same program.
- A property value of at least $100,000 at the other program.
Live in one unit
Rent all the units
Bring a co-borrower
First or second lien
600 score if you live there
Caps tied to your score
Can You Get A HELOC On A Duplex Or Fourplex?
Yes. Both HELOCs we offer list 2 to 4 unit homes as eligible, with different score, debt and line limits.
A multi-unit HELOC is a line of credit on a residential building with 2 to 4 units: a duplex, triplex or fourplex. The HELOCs we offer stop at 4 units, so buildings with 5 or more units do not qualify. Mixed-use buildings are not eligible either.
If you live in one of the units, at least one program accepts scores from 600, permits co-borrowers, including one who does not live there, and sets debt-to-income at 50%, or 45% below a 680 score. Lines start at $15,000. Lines above $500,000 need a 700 score and a full appraisal.
If you rent every unit, the line goes through the program that accepts rentals and is qualified on your personal income. That program needs a 680 score, caps the line at $400,000, allows at most one existing lien, sets debt-to-income at 45% and does not lend on rentals in some states, including Texas and New York. Rental buildings held in an LLC are covered on our llc heloc page.
Why choose Saxton for a multi-unit HELOC
This page is for owners of a duplex, triplex or fourplex, whether they live in one unit or rent every unit.
Owner Occupied From 600
If you live in one of the units, at least one HELOC we offer starts at a 600 credit score.
Rentals From 680
A 2 to 4 unit rental can qualify from a 680 score, with lines that reach $350,000 at a 760 score.
Second Lien Caps By Score
With a mortgage in place, owner-occupied lines run from $200,000 at 680 up to $400,000 at 740 at one program. Rental lines top out at $350,000.
Co-Borrowers Are Welcome
One program permits co-borrowers, including one who will not live in the home. The other takes one applicant only.
Debt Limits Set Up Front
Expect a 45% debt-to-income cap on 2 to 4 units at one program. The other allows 50% with a 680 score or higher.
One Existing Lien Max
At the program that takes rentals, a 2 to 4 unit home can have only one existing lien.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about HELOCs on 2 to 4 unit homes.
At least 600 at one program if you live in the home, though a score under 680 lowers the debt-to-income cap to 45%. The other program needs 680 for 2 to 4 units, whether you live there or rent it out.
Up to $750,000 at one program, with a 700 score and a full appraisal for lines above $500,000. The other program caps 2 to 4 unit lines at $400,000. How much equity you can use depends on the home’s value, your existing mortgage and your credit score.
Yes, through at least one program. You need a 680 score and qualify on your personal income. Rental lines reach $200,000 from 680, $275,000 from 720 and $350,000 from 760.
45% at one program for any 2 to 4 unit home. At the other, 50%, or 45% if your score is under 680. That program permits debt consolidation to reduce debt-to-income. The other offers debt payoff credit to a limited group of applicants for now, and card payoffs need a 680 score.
Yes, at one program, which permits co-borrowers and non-occupant co-borrowers. The first borrower must be an owner of the property. The other program takes one applicant only.
No. The HELOCs we offer cover homes with 1 to 4 units. Mixed-use properties are listed as ineligible, and 5 or more units are not on the eligible list of any program we offer.
Not at one program, which allows at most one existing lien on a 2 to 4 unit home. The other lists first or second lien position for its line, so tell us what you owe and we will confirm what fits.
Find out what you qualify for
Tell us about the building, whether you live there, what you owe on it and your credit score, and we will show you the line options that fit.
Get Pre-Qualified- Consumer Financial Protection Bureau, home equity loan compared with a HELOC
- Consumer Financial Protection Bureau, mortgages
Loan amounts, rates, terms, and eligibility are subject to credit approval, asset and income verification, appraisal, and program guidelines. Draw requirements and variable rate terms apply. Program availability varies by state. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.