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HELOC for Business

HELOC for Business lets a homeowner client fund their business against home equity. Funding Machine screens the client in two stages, and the 7 Figures fulfillment team works the line to funding after you book the fulfillment call.

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Stage 1: the HELOC Prescreen

Once a client applies and credit data is available, the HELOC for Business card on the client’s page shows an automatic prescreen. It reads the credit report’s score and mortgage history, the stated-income DTI, and the state submitted on the application. The result and reasons appear directly on the card, with a next action for the missing information. Potentially eligible means the initial screen passed; property and equity still need confirmation. The prescreen does not infer a dollar amount from a mortgage balance alone. Active mortgage or HELOC accounts and historical mortgage accounts are shown separately. A closed mortgage does not confirm current ownership. The application state is a screening signal, not verification of the property securing the line. Only a credit score below 640 is a hard prescreen decline. Everything else — an ineligible state, no mortgage on the report, DTI above 45% — is a soft result: the card explains what may change once the property and income details are confirmed. A paid-off home shows no mortgage on the report, a second property may sit in an eligible state, and verified income can bring DTI down.

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Stage 2: Eligibility Confirmation

Select the next action on the HELOC card, such as Confirm property & equity, Add income, or Update information, to open the Eligibility Confirmation form. It attests the facts the prescreen could only guess:

• Property and equity — the property’s state, whether it is the client’s primary residence, the estimated home value, the mortgage balance, and any other liens. Mortgage accounts found on the credit report prefill the form and stay editable.
• Verified income — the client’s verified personal monthly income and average monthly income for the whole business, entered in dollars, plus the percentage of that business owned by the applicant.

Qualifying business income is monthly business income × 25% × ownership percentage. For example, $20,000 × 25$2,500 per month. The form previews qualifying income, DTI, and the equity-based line as you complete the answers. This preview does not confirm the plan. The property-state list groups states as Eligible, Eligible — conditions apply, and Not eligible, so you can see where the program runs before you submit. Picking a state outside the program says so under the field, and a state with conditions — a lien-position, occupancy, entity, or spousal-income limit — lists them there. You can complete the form yourself or select Send to client to email the client a secure link to fill it in. The contact must have a valid email address in the CRM. The link expires after 72 hours, and sending a new link replaces any earlier one. Submitting keeps the form open and shows the result on it: Eligible or Ineligible, the estimated line, the verifiable annual income, and the recomputed DTI. The HELOC card carries the same verdict once you close the form. An Eligible confirmation is definitive for plan selection — it unlocks the HELOC checkbox in the funding plan and shows the estimated line on the card. An Ineligible result lists which program criteria the answers missed, so you can correct an answer and select Re-check eligibility. If the underlying report, score, monthly debts, or captured income changes, the card asks you to re-check confirmation before selecting HELOC again. Older confirmations that used business income also need ownership confirmed. Saved answers remain available to review and update. See Understanding HELOC eligibility for screening statuses, ownership examples, and estimate calculations.

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Who handles the file

The fulfillment team helps you and your client submit the HELOC application. After submission, you are responsible for following up with your client through closing and collecting your agreed funding fee. Your HELOC funding-fee invoice is paid entirely to you; no 7F processing or fulfillment fee applies to HELOC. Contact the fulfillment team in Slack for general questions.

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The HELOC workflow

Confirming a plan with HELOC starts the HELOC workflow: review underwriting, send and review the client agreement, book and attend the fulfillment call, wait for funding, then send your consulting fee invoice. The Funding tab includes a HELOC section for Clients whenever HELOC is enabled in Labs, including when you add HELOC to the workflow after the agreement was signed. You do not need to select HELOC before converting the applicant to a Client. After a current Eligible confirmation, Schedule fulfillment call appears on both the HELOC product card and the HELOC section in Funding. A preliminary prescreen pass does not unlock these buttons. Re-check eligibility if the confirmation needs updating. Both buttons use the same paperwork and existing appointment checks as the workflow; an upcoming call must be managed before booking another. Booking the fulfillment call. You — never the client — book the call, and only once the client’s paperwork is signed. A client agreement signed before your Location switched to the Processing Application, or a verified agreement upload that includes the client’s application, already counts as that paperwork, so a client who signed one earlier does not sign again before you book. When booking is unlocked, the workflow shows Book Fulfillment Call and the calendar opens with the client’s name, email, and phone filled in from the contact. Until then, the workflow explains what unlocks booking. Keep the client’s email and phone consistent with their CRM contact so the fulfillment appointment can be matched back to their file. After submitting the calendar form, select Check Booking to confirm the appointment. One upcoming call at a time. A client only ever needs one scheduled fulfillment call. While an upcoming call is on the calendar — including one booked before the current funding plan — the workflow shows that appointment with Reschedule and Cancel instead of offering to book a second one. Right after you pick a time in the calendar, the page confirms the booking and swaps to those controls on its own. Booking does not complete the schedule step. You and your client must both attend the call; the step completes when you confirm attendance (a Showed appointment completes it directly). A no-show or cancellation keeps the step open and offers Book Again. After booking, the contact header and the workflow step show the live CRM appointment title, local date and time, and status. Use Reschedule to move the appointment to another available time, or Cancel to cancel it — cancellation returns the workflow to Book Fulfillment Call so a replacement can be booked.

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After the call

The fulfillment team works the appointment and the HELOC funding row from their own queue. On your side, the Funding tab tracks the HELOC’s rate, term, funding status, and funded amount as the team updates them. Appointment disposition, the team’s fulfillment workflow status, and the funding result are separate: a showed, cancelled, or no-show appointment does not by itself mark the HELOC funded or complete the file. The assigned HELOC task appears in your CRM Action Center and in the task list on the Funding Machine dashboard. Completing that task updates the task state shown on the HELOC file after the next appointment sync or a team member uses the task retry action; simply viewing or refreshing the queue never writes to your CRM. Task completion does not mark the HELOC funded. A cancellation or no-show keeps the task open for follow-up. HELOC never contributes to a processing-fee basis, so a funded HELOC creates no processing invoice. You can still use the invoice tools for your own consulting fee.

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