Whether you run a contracting company, a practice or a small shop in Pennsylvania, borrowing against your home can help fund equipment, smooth slow months or cover a large expense. Non-QM equity programs let Pennsylvania 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 Pennsylvania, business entity records are searchable through the Pennsylvania Department of State, Bureau of Corporations and Charitable Organizations. If a CPA prepares your expense letter or P&L, the lender may check the license with the Pennsylvania State Board of Accountancy.
Where the numbers point in Pennsylvania
Counties with the most home equity lines of credit opened (2024):
| County | Home equity lines of credit opened (2024) |
|---|---|
| Allegheny County | 6,365 |
| Montgomery County | 4,996 |
| Bucks County | 3,690 |
| Chester County | 3,690 |
| Lancaster County | 3,411 |
| Philadelphia County | 3,292 |
| Delaware County | 2,969 |
| York County | 2,851 |
| Berks County | 2,100 |
| Westmoreland County | 1,781 |
Start your application in a few minutes. A licensed loan officer reviews it and follows up with your options.
- Takes a few minutes
- Reviewed by a licensed loan officer
- No obligation to proceed
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 Pennsylvania
- Bank statement loans in Philadelphia
- Bank statement loans in Pittsburgh
- Bank statement loans in Allentown
- Bank statement loans in Harrisburg
- Bank statement loans in Lancaster
- Bank statement loans in Scranton
- Bank statement loans in Reading
- Bank statement loans in York
- Bank statement loans in Erie
- Bank statement loans in Pottstown
- Bank statement loans in State College
- Bank statement loans in Lebanon
- Bank statement loans in Bethlehem
- Bank statement loans in Altoona
- Bank statement loans in Hanover
- Bank statement loans in Johnstown
- Bank statement loans in Monessen
- Bank statement loans in East Stroudsburg
- Bank statement loans in Hazleton
- Bank statement loans in Williamsport
- Bank statement loans in Chambersburg
- Bank statement loans in Levittown
- Bank statement loans in Bloomsburg
- Bank statement loans in Uniontown
- Bank statement loans in Wilkes-Barre
- Bank statement loans in Pottsville
- Bank statement loans in New Castle
- Bank statement loans in Butler
- Bank statement loans in Norristown
- Bank statement loans in Chester
Common questions
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 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.
What can keep a bank statement HELOC from closing?
Common problems include frequent overdrafts, large deposits you cannot explain, declining deposits over the review period, recent late mortgage payments and too little equity once your existing balance is counted. Mixing personal and business spending in one account can also complicate the review. Cleaning these up before you apply gives the lender a clearer picture of your income.
Other non-QM options in Pennsylvania
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 · Pennsylvania non-QM overview
- 2024 HMDA data