Whether you run a contracting company, a practice or a small shop in Connecticut, borrowing against your home can help fund equipment, smooth slow months or cover a large expense. Non-QM equity programs let Connecticut owners document income with 12 or 24 months of bank statements instead of tax returns. Compare a line of credit, a lump-sum second and a cash-out refinance before you choose, and remember that your home secures the debt.
Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.
Lenders often confirm that your business is active. In Connecticut, business entity records are searchable through the Connecticut Secretary of the State. If a CPA prepares your expense letter or P&L, the lender may check the license with the Connecticut Department of Consumer Protection.
Where the numbers point in Connecticut
Counties with the most home equity lines of credit opened (2024):
| County | Home equity lines of credit opened (2024) |
|---|---|
| the Capitol Planning Region | 3,571 |
| the Western Connecticut Planning Region | 2,604 |
| the South Central Connecticut Planning Region | 1,653 |
| the Naugatuck Valley Planning Region | 1,531 |
| the Greater Bridgeport Planning Region | 1,109 |
| the Southeastern Connecticut Planning Region | 1,028 |
| the Lower Connecticut River Valley Planning Region | 1,005 |
| the Northwest Hills Planning Region | 435 |
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Prefer to talk first? Call (888) 508-8976. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.
Local pages in Connecticut
- Bank statement loans in Bridgeport
- Bank statement loans in Hartford
- Bank statement loans in New Haven
- Bank statement loans in Norwich
- Bank statement loans in Waterbury
- Bank statement loans in Danbury
- Bank statement loans in Stamford
- Bank statement loans in Norwalk
- Bank statement loans in New Britain
- Bank statement loans in Bristol
- Bank statement loans in Meriden
- Bank statement loans in West Haven
- Bank statement loans in Milford
- Bank statement loans in Milford city
- Bank statement loans in Middletown
- Bank statement loans in Shelton
- Bank statement loans in Torrington
- Bank statement loans in Naugatuck
- Bank statement loans in New London
- Bank statement loans in Ansonia
- Bank statement loans in Wallingford Center
- Bank statement loans in Willimantic
- Bank statement loans in Storrs
- Bank statement loans in Derby
- Bank statement loans in Conning Towers Nautilus Park
- Bank statement loans in Jewett City
- Bank statement loans in Oakville
- Bank statement loans in Thompsonville
- Bank statement loans in Riverside
- Bank statement loans in Kensington
Common questions
Can I get a HELOC if I am self-employed with low taxable income?
You may qualify through a bank statement HELOC. Instead of relying on tax returns, these programs review 12 or 24 months of personal or business statements and apply an expense factor or an expense letter to estimate your income. That approach can help when write-offs make your returns look thin. Programs vary by borrower, property and investor, and all are subject to credit approval.
Should I do a cash-out refinance instead?
A cash-out refinance replaces your first mortgage with a larger one, which makes sense if you planned to refinance anyway. If your first mortgage has terms you want to keep, a second lien such as a HELOC or home equity loan avoids disturbing it. Ask a loan officer to show both options with full costs so you can compare them side by side.
Can I use a bank statement HELOC for my business?
Many self-employed owners use home equity for business needs, such as equipment, inventory or bridging slow months. Lenders may ask how you plan to use the funds, and some programs have rules about business-purpose borrowing. Keep in mind that your home secures the debt. For questions about how the interest is treated for tax purposes, talk to a tax professional.
Other non-QM options in Connecticut
Bank statement loansNon-QM lendersSelf-employed1099 loansP&L loansAsset depletionNo-doc / stated incomeNew self-employedITIN loansForeign nationalNon-warrantable condoInterest-only
Related guides
- What Is a Bank Statement Loan and How Does It Work?
- How Tax Write-Offs Affect Your Mortgage Qualifying Income
- How to Compare Non-QM Loan Offers: Loan Estimates, Features and Fit
Bank Statement HELOCs & Home Equity Loans overview · Connecticut non-QM overview
- 2024 HMDA data