HELOC Up To $3,000,000
Need a large line of credit? At least one HELOC we offer reaches $3,000,000 in first lien position, on a primary home, a second home or an investment property.
Lines to $3,000,000 in first position
With one partner, a first-position line climbs to $3,000,000, and score and reserve rules step up by tier.
- Debt-to-income can run up to 50% on these first-lien lines*
- A line above $2,000,000 needs a credit score of at least 720 and 12 months of reserves.
- A line from $1,000,001 to $2,000,000 needs 6 months of reserves.
- Debt-to-income can go as high as 50%.
- A full appraisal is required, and appraisal waivers are not accepted.
- Up to 4 borrowers can be on one line.
A single $3,000,000 credit line*
Transferred appraisals are accepted*
Score and reserves by line size
Full appraisal on every line
Escrow account for taxes required*
No mortgage insurance
What Is A $3,000,000 HELOC?
Up to $3,000,000 with at least one HELOC we offer, with the score and reserve requirements rising at each step.
A HELOC is a line of credit secured by your home. At least one program we offer sets three line sizes: $50,000 to $1,000,000, $1,000,001 to $2,000,000, and $2,000,001 to $3,000,000. Each step asks for a higher score or more reserves.
This program places the line in first lien position. It can be used to buy a home, to take cash out, or for a limited cash-out refinance. It is available on a primary residence, a one-unit second home or an investment property.
A line this size sits in first position, so any existing mortgage is paid off when it closes. At one program a cash-out line is at least 75% drawn at closing, and private mortgage insurance does not apply.
Why choose Saxton for a $3,000,000 HELOC
This page is for homeowners and buyers who need a line of credit up to $3,000,000.
Buy, Refinance Or Cash Out
One program’s first-lien HELOC starts at $50,000 and can fund a purchase, a cash-out refinance or a refinance with limited cash back.
Reserves Rise By Tier
One partner asks for three months of reserves on lines through $1,000,000, six months beyond that, and a full year once the line passes $2,000,000.
Reserves Grow With The Line
Plan on 3 to 6 months of reserves for a line up to $1,000,000, 6 months from $1,000,001 to $2,000,000, and 12 months above $2,000,000.
Bank Statements Work Here
Self-employed borrowers can qualify with 12 or 24 months of personal or business bank statements. Tax returns are not required on that option.
Buy A Home With The Line
Because the line sits in first position, it can fund a purchase. On a purchase, the full line is drawn at closing. Gift funds can help with the down payment and closing costs.
Non-Citizens Can Qualify
Permanent residents, non-permanent residents and foreign nationals are eligible borrowers. DACA recipients can document work authorization with an EAD.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about HELOC lines up to $3,000,000.
Yes, a $3,000,000 first-lien HELOC is available through one partner. An investment-only first-lien line that qualifies on rental cash flow also reaches $3,000,000, and it needs a 760 score at that size.
Above $2,000,000, one partner sets the credit floor at 720 and asks for a year of reserves. A 760 score there allows the most borrowing against the home in that tier.
Yes. The program allows a primary residence, a one-unit second home or an investment property. Investment properties need a score of at least 700. A business entity such as an LLC can hold title only on an investment property with a business purpose.
Yes, one partner orders a full appraisal for a first-position line this size and will not take an appraisal waiver. A transferred appraisal is acceptable there, but a C5 or C6 condition or quality rating is not.
Properties over 10 acres, manufactured and modular homes, log homes, co-op units, mixed-use properties and rural properties are not eligible. Eligible types include single-family homes, 2-4 units, PUDs, warrantable condos and site condos.
No. The program is available in all states except Texas. Hawaii properties in lava zones 1 and 2 are not eligible, and investment property loans in Baltimore City are not allowed.
No. The program does not permit a prepayment penalty, and private mortgage insurance is not required.
Saxton Mortgage does. At least one first lien HELOC program we offer has lines from $50,000 up to $3,000,000. It is not available in Texas.
Find out what you qualify for
If your plans call for a line above $1,000,000, talk with a loan officer about the reserves and appraisal this tier needs, then pre-qualify.
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.