Banks That Offer a Bank Statement HELOC in a High-Rise With a Commercial Floor

The Quick Read: No fixed list of banks exists, because two separate reviews decide this loan: one on your deposits and one on the building. A commercial floor does not end the file automatically. It raises a building question, and each lender sets its own limit.

• Your bank statements prove income. They do not prove the building is acceptable.
• A residential condo unit above retail is a different thing from owning commercial or mixed-use property, which is not eligible.
• Hotel-style operations (condotels) are not offered through Lendmire’s network.
• On an investment property, the network’s ceiling is 70% CLTV (combined loan-to-value, meaning all liens against the value). Primary residences and second homes can go higher.
• Lendmire is a broker. It shops multiple wholesale lenders and matches your building and income to a program.

Key Terms Defined

Bank statement HELOC: a home equity line of credit where the lender reads your deposits, usually over 12 or 24 months, instead of tax returns or pay stubs, as proof of income.

CLTV: the total of all loans on the property, including your first mortgage, divided by the property’s value.

Non-warrantable condo: a condo building that falls outside conventional-loan standards, often because of commercial space, investor concentration, or litigation. Non-QM and HELOC lenders may still accept it.

Commercial floor: space in the building used for shops, restaurants, or offices instead of homes.

Mixed-use collateral: a property itself zoned or used for both living and business. This is different from a residential unit inside a mixed-use building.

Project questionnaire: a form the HOA completes that tells the lender about commercial share, owner concentration, reserves, and lawsuits.

Which Banks Offer a Bank Statement HELOC in a High-Rise?

The honest answer is that it depends on the lender, the building, and your file. Any list of bank names would be out of date or wrong for your tower. Lenders that read deposits for a home equity line are a narrower group than lenders that write standard lines. A building that fails one lender’s review may still pass another’s, because each lender sets its own standard.

That is where a broker earns its keep. Lendmire works with a network of wholesale HELOC lenders. It looks at your occupancy, credit profile, equity, the building’s commercial share, and how you document income. Then it matches that file to the program whose rules fit. The best program for your situation is the one whose building standards and leverage rules your tower and your numbers can actually clear.

One limit up front: these home equity lines are available in Lendmire’s 16 full-service states only. They are Alabama, California, Colorado, Florida, Georgia, Indiana, Michigan, Montana, New Mexico, North Carolina, Ohio, Pennsylvania, Tennessee, Texas, Virginia, and Washington. That is narrower than the 41-market footprint Lendmire has for DSCR investor loans.

Two Reviews, Not One

A strong income file cannot rescue a building the lender will not accept. The reverse is also true. Lenders run both tests, and each one can end the file on its own.

On income, the lender usually reads 12 or 24 months of statements. It may apply an expense factor to business deposits. Whether a bank statement income review is accepted depends on the program, and every file is subject to lender guidelines.

Debt-to-income (DTI) is still tested on you. In this network’s programs, the maximum DTI is 50%. For credit profiles from 600 to 679, the limit is 45%, so a ratio above 45% requires a credit score of at least 680. The lender qualifies you on the interest-only payment calculated on the maximum draw.

How Is the Commercial Floor Counted?

No published rule sets one commercial cap for these lines. Each lender sets its own building standard, and some are looser than others. What lenders measure is similar from file to file: the commercial share of square footage, taken from the declaration and floor plans.

For contrast, the conventional-loan world has a hard number. Fannie Mae’s Selling Guide caps non-residential space at 35% of a project or building. It counts space above and below grade, including commercial space held by a separate association. That test governs agency first mortgages. It does not bind a bank statement HELOC lender, which is why a tower that fails conventional review can still be workable here, and why one can still fail.

How a commercial component is treated varies by type. Ask the lender how it counts each one.

The condotel is the sharpest edge. Practitioner explainers note that lenders treat hotel-style use as commercial. In this network, condotels are not offered, regardless of the commercial percentage. A tower with a front desk renting units nightly needs a different route.

Your own unit matters too. A residential unit above a commercial floor is a project question. A unit that is itself live-work or zoned mixed-use is a collateral problem, and commercial, mixed-use, or agricultural zoning is not eligible.

A Worked Example

Picture a 30-floor tower where retail takes the bottom two floors. Say the retail is about 7% of the building’s floor area by square footage. That is a hypothetical share, not market data. A lender with a looser building standard may treat that as a small commercial footprint. A lender with a tight standard may still ask about who owns the retail and whether a hotel operates upstairs.

Now the leverage side. You own the unit as an investment property, and the value supports a 70% CLTV ceiling. Your first mortgage already uses 60% of value. Only about 10% of value is left for a new line, which shows how sharply occupancy can limit leverage in this example.

Run the same unit as your primary residence at a 720 credit profile, and the ceiling can reach 90% CLTV on lines up to $500,000. The two files look alike on paper and diverge on leverage. Every figure here remains subject to lender guidelines and full file review.

What the Network’s Programs Look Like

These are typical parameters from select wholesale lenders, not promises. Occupancy changes almost everything.

Some details that shape the file:

• Structure. The line sits in first or second lien position. Primary residences and second homes can use a 3-year interest-only draw with a 17-year repayment, or a 5-year draw with a 25-year repayment. Investment lines use the 5-year draw and 25-year repayment only. At least 75% of the line is drawn at closing. Pricing floats and never converts to fixed.
• Line size. Lines run from $25,000 to $750,000. Anything above $500,000 is primary residence only, needs a 700 credit profile (720 on the 5-year draw structure), caps at 75% CLTV, and requires a full appraisal.
• Valuation. Lines at or below $500,000 ordinarily use an automated valuation. You may request a full appraisal in any case.
• Property. Condominiums are eligible, including non-warrantable ones. Condotels, co-ops, manufactured homes, and log homes are not. A property listed for sale, or listed within the past 60 days, is ineligible in Indiana, North Carolina, Pennsylvania, Tennessee, Texas, and Washington.
• Credit history. A bankruptcy needs 4 years of seasoning from discharge or dismissal.
• Title. The individual borrower or a revocable living trust must hold title. LLCs and corporations cannot.
• Exposure. A borrower is limited to three lines, and owning more than 15 financed properties is disqualifying.

Draw periods carry real payment risk. The CFPB’s HELOC brochure explains that payments can be interest-only during the draw. When the draw ends, the balance may come due as a lump sum or on a schedule, often over 10 or 15 years. With a floating line, your obligation can step up when repayment begins.

Gather These Before You Apply

Check the building first. A lender’s building review costs you nothing but time. An appraisal does cost money.

1. The condominium declaration and floor plans. Compute the commercial share by square footage.

2. The HOA budget and reserve figures. Look for delinquent dues and large special assessments.

3. Litigation disclosures. Ask the management office directly.

4. A hotel-style operation check. Look for a front desk renting units nightly or a rental pool.

5. Owner concentration. Find out whether one owner holds many units.

6. The project questionnaire. The HOA completes it.

7. 12 or 24 months of statements. Business and personal accounts should be clean and consistent, with large transfers explained.

8. Title status. If an LLC holds the deed, the line cannot close as-is.

9. Your existing lien balance. The full first-mortgage balance counts toward CLTV.

If the Building Fails

Some building problems are temporary and some are structural. Delinquent dues, low reserves, and a pending lawsuit can clear with time. A commercial share baked into the declaration does not. If one lender declines the building, another lender’s standard may differ, so a broker’s multi-lender shop is the first move.

If the problem is title, the fix is vesting. An investor whose condo sits in an LLC needs the deed moved to an individual or revocable trust. Otherwise, a DSCR cash-out refinance is the route. DSCR loans are designed for investment properties and are reviewed differently from a standard owner-occupied mortgage. The loan is reviewed primarily on property-level rental income covering the payment, subject to lender guidelines. Cash-out refinances run up to about 75% LTV on standard rentals, with roughly six months of seasoning common. Many programs want around a 660 score, and 700+ opens the strongest leverage. Select programs start at a coverage ratio of 1.00, and coverage below 1.00 is available through select lenders in the network, with leverage and terms adjusted.

A DSCR cash-out refinance also replaces your first mortgage, while a HELOC leaves it in place. Clearing a DSCR ratio is not the same as positive cash flow, since repairs, vacancy, and management sit outside the calculation. For the full picture, read the complete DSCR loans guide.

For the step-by-step on documents and building checks, see Lendmire’s piece on qualifying for a bank statement HELOC on a high-rise condo with a commercial floor.

Next Step

Programs are subject to lender guidelines and are not a commitment to lend.

About Lendmire

Lendmire, NMLS# 2371349, is a mortgage brokerage that arranges home equity lines of credit through wholesale lending partners in its 16 full-service states. Lines on primary residences, second homes and investment properties are each reviewed individually by the lender under the program’s occupancy, credit and combined-loan-to-value guidelines. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.

References

1. Fannie Mae Selling Guide B4-2.1-03

2. Effective Agents: condotel and non-warrantable condo financing

3. CFPB HELOC brochure