has anyone used a no Doc HELOC ?

Prior to 2022 this was a no brainer for about 15 years.

Definitely not a no go. 

· Rate/Term or Cash Out with Properties listed 1 day off MLS (OO, SH, and NOO) · No 90 day seller seasoning required on Conventional Purchases · Minimum fico for Conv/FHA is 620 · No 2 YR Landlord History Required on NOO Purchase · No Max DTI on FHA loans with a DU approval · No score and/or credit history needed for occupying co-applicants w/ FHA findings Also, if anyone needs or wants to see the exact FHA flip verbiage I can send it to you or you can go to www.hud.gov

@Nikko Tountas Read the BP books on how to structure these deals as a no money deal is harder for all parties involved to both get their money out and make enough money for it to be worth it.But basically you need to get a property at such a low value that the forced appreciation makes money for all. 

I was contemplating a no prepayment penalty after 10 years, atleast hes made money off it.

Seems like a no brainer type of deal, assuming that doing my due diligence the store unit alone rents for 2100 and I can reno in the 2 units on the 3rd floor.What I need advice with is qualifying w projected rents.I know I could take the current basement and apt on the 2nd floor rents to help qualify at 50% of their rents. 

I spoke with Huntington Bank and they run the same criteria as B of A.  

Perhaps work out a no-interest carry period with a balloon at the end. 3.

It seems like a no-brainer for the cost but there are lots of BP and other folks who urge us not to go cheap, no matter what.