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. Planet’s Home Equity Loan is not available in all states or for all occupancy and first-position mortgage loan types. The following states and U.S. territories are ineligible: MN, NY, OH, OR, TN, TX, and Puerto Rico. The 1st lien mortgage must be fully amortizing or interest only. 1st lien mortgages with negative amortization, balloon payment, reverse mortgages, and loans in forbearance are ineligible. Loans may only be written 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. Must be Fannie Mae warrantable condominiums. Manufactured Homes must be double-wide or greater and must be taxed as real property.  Planet’s HELOAN product is subject to change at Planet’s discretion and without notice. Please refer to the current version of Planet’s Seller Guide for the most up-to-date information regarding the HELOAN product.

Equal Housing Lender. © 2024 Planet Home Lending, LLC | 321 Research Parkway, Suite 303, Meriden, CT 06450 (203) 265-5090 | For licensing information, go to: | NMLS ID# 17022; 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.

NMLS ID# 17022 

Ready to get approved?

In order to offer this loan program to your borrowers, you must first complete our on-demand training program. Get access to the training and addendum by filling out this form:  


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 LienView 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



- Exclusively available to our Delegated Sellers on a non-delegated basis