Deciding

Who qualifies?

The short answerThere are two questions, and the order matters. First, does your cash flow suit the strategy — do you finish the month with a real surplus? Second, do you meet the lending guidelines? A borrower can meet every guideline and still be wrong for this product.

The surplus test comes first

Pull your last three bank statements. Look at what was left at the end of each month after everything — not what you think should be left, what actually was.

If you finish the month with nothing, this does not work. Not slowly. Not at all. That is worth establishing before anyone pulls credit.

There is no published minimum surplus, and naming one would invent a guideline that does not exist. What matters is that the gap is real and repeats.

Then the lending guidelines

The Luminate Smart Equity Loan is a full-documentation product — W-2s or tax returns. There is no bank statement or stated income path. Self-employed borrowers who need alternative documentation cannot use this program, which is worth knowing early.

The line is available for primary residences, second homes and 1–4 unit investment properties. Loan amount and combined loan-to-value limits vary by occupancy and loan purpose, and credit and debt-to-income requirements apply.

All of this is subject to underwriting and is not a commitment to lend. Confirm current guidelines before making plans around them.

When it is not a fit

Irregular income that cannot be documented. A surplus with no cushion behind it. An unwillingness to monitor a balance month to month. A low fixed mortgage rate that the variable line rate is unlikely to beat.

Being told this is not for you is a useful outcome, not a failed conversation.

Common questions

Does my credit score affect the rate?

On the Luminate Smart Equity Loan, the credit score does not set the rate. Score may still bear on other terms, including the line amount.

Can self-employed borrowers use this?

Only with full documentation — W-2s or tax returns. There is no bank statement or asset-based path on this program.