Case Studies

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HELOCSelf-EmployedOwner-OccupiedVA

Piggyback HELOC Win in Virginia Beach, VA

Used an 80/10/10 to avoid monthly PMI and keep flexibility.

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$492,000

Loan Amount

30 days

Clear-to-Close

Virginia Beach, Virginia

Location

Single Family

Property Type

Avoiding PMI With a Piggyback in Virginia Beach

Self-employed buyer needed flexibility around cashflow.

The Challenges

  • Income variability near jumbo price point
  • Need to keep cash on hand for the business

The Playbook

  1. Modeled first + HELOC vs single loan for total cost
  2. Verified bank-statement income (supporting doc only) for comfort
  3. Coordinated simultaneous closing with HELOC provider
  4. Set plan to pay down HELOC during strong cashflow months

Outcome

  • Avoided monthly PMI
  • Kept cash available for business volatility
  • Smooth coordinated close

Coach's Tips

  • Keep reserves strong when self-employed
  • Treat the HELOC as a strategic tool
  • Revisit payoff plan quarterly

Download PDF: Piggyback HELOC Win in Virginia Beach, VA

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