Home Equity Line of Credit (HELOC) / 2nd Mortgage / Piggy Back Loans

Home equity loans and lines of credit (HELOCs) are often used as a way to get access the value in your home. If you have paid off most or all owed on your mortgage, then an equity line can be accessed up to 85% the relative difference between what’s left over after payment processing fees and the total outstanding balance.

This mortgage tool is for clients who have a solid rate on their first mortgages, but want to capture some of the equity out. This allows them keep up with what’s happening in real estate and also provides an opportunity when it comes time cash flow needs arise again- like remodeling or investing in something new!

Home equity loans and HELOCs come with their own set of pros, but there’s one thing they have in common: requirements. You’ll want to take into consideration what type best fits your budget before choosing which option will work for you!
-> Debt-to-income ratio below 50%
-> Credit score over 620
-> Strong history of paying bills on time

We can get you pre-qualified within 24 hours of when you send in the documents required. We’ll close your loan within 7 days if all parties work together and there are no issues.

We offer up to 90% LTV on your home equity loans, and we only require a $500k limit for cash-out.

With a second mortgage, you can save on expensive refinancing by
1. Not replacing your whole loan
2. Holding onto lower interest loans or first mortgages
3. Closing in 7 days (quick closing & less hassle!)