Deephaven Mortgage broadens Equity Advantage HELOC options

Deephaven Mortgage is broadening its Equity Advantage HELOC with a larger maximum line amount and wider borrower eligibility, according to new reporting.

HousingWire reported that the expanded program raises the maximum line amount to $1 million from $500,000, adds Texas availability, allows LLC vesting for investment properties and permits co-borrowers with a minimum 620 credit score. The report describes the changes as aimed at Deephaven’s wholesale and correspondent partners.

Deephaven’s official product page confirms the Equity Advantage HELOC exists and lists the program’s core features. The company first launched the product in December 2025, including a bank-statement qualification option for self-employed borrowers.

There is one point of ambiguity in the public material: Deephaven’s product page still appears to show a $500,000 maximum loan amount, even as the new coverage says the cap has been lifted to $1 million. The new report also suggests broader Texas availability than the current public product page language.

For mortgage brokers and investors, the key takeaway is that Deephaven appears to be widening access to a non-QM HELOC product that was already positioned for flexible underwriting. The practical scope of the expansion may become clearer once Deephaven updates all of its public product materials.