A Piggyback HELOC is a HELOC that is opened at the same time the home is purchased or refinanced. To complete the underwriting for the Piggyback HELOC, Rocket Mortgage will leverage the same documents that were used for completing the mortgage loan (such as loan application, appraisal evaluation, credit review, etc.).
A Standalone HELOC is independent of the first mortgage if any exist. For Standalone HELOCs, Rocket Mortgage will go through the complete underwriting process: loan application, appraisal evaluation, credit review, etc.