Ownwell does not formally support HELOC mortgages to date. This is due to the following:
Submission platforms typically require the broker to enter the full combined amount - including both the amortizing mortgage and the line of credit - as a single mortgage amount.
Ownwell receives only the total combined amount (amortizing mortgage amount and line of credit amount) and has no way to separate the components.
💡 That said, if your client has a HELOC product, there is a way to update the mortgage file so you can still include these clients.
You will need to make some updates to reflect the amortizing portion only.
Here's how to update a TD Flexline Mortgage in Ownwell:
Here's how to update a HELOC mortgage in Ownwell (products that are not TD Flexline):
🚨 Please note that Ownwell does not support HELOCs with a loan-only component. This is because Ownwell homeownership reports require an amortizing mortgage component.