PLANET'S HOME EQUITY LOAN

Planet’s Home Equity Loan 2nd Lien (Home Equity Loan) is available to customers with an existing first-position mortgage lien. This program requires the existing first-position mortgage lien to remain; this program is not a refinance. Review the guidelines for state restrictions. The following states and U.S. territories are ineligible: DC, HI, IA, MA, NJ , NY, RI, TN, and Puerto Rico. The1st lien mortgage must be fully amortizing or interest only. Loans may only be underwritten on a Non-Delegated basis. The borrower must have purchased the home at least six months prior to the note date of the 2nd lien. Refer to the current version of Planet’s Seller Guide for the most up-to-date information regarding the HELOAN product.

This is a business to business communication meant for use by mortgage professionals only. It is not intended for distribution to consumers or other parties. It is not an "advertisement" as defined in Section 1026.2(a)(2) of the Truth-in-Lending Act. Product information is subject to change without notice. © 2025 Planet Home Lending, LLC. NMLS ID# 17022. All rights reserved.

NMLS ID# 17022 

Questions?

Contact your Regional Sales Manager for more information.

Let borrowers keep their low rate first mortgage and draw cash from their home with Planet’s new Home Equity Loan 2nd Lien. View Program Highlights here.

Approval Requirements:

Step 1: Complete a training video

Step 2: Download and sign an addendum   

Step 3: Email the addendum to Planet’s TPO  admin and your Regional Sales Manager 

- All of the above will be available to you after the form above is filled out

TAKE THE TRAINING

- Exclusively for our Correspondent Sellers on a Non-Delegated basis