NMLS #1281 Since 2005 Home Equity Specialists
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1st Nationwide Mortgage

Tap Your Home Equity Without Touching Your First Mortgage

Get a HELOC or fixed-rate 2nd mortgage from $25K–$500K — no need to refinance and lose your current rate.

  • Keep your current low-rate 1st mortgage in place
  • HELOC (line of credit) or fixed-rate 2nd mortgage
  • $25,000 – $500,000 · Typical close in 2–4 weeks
  • Use for renovations, debt payoff, or investment
  • No cost to check your options
20+ yrs lending
NMLS #1281
BBB A+ rated
2–4 wk close
$25K–$500K
Talk to a Home Equity Specialist (833) 350-9185
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Check Your Equity Options

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Why Not Just Do a Cash-Out Refi?

If your current rate is under 5%, a cash-out refi replaces your whole loan at today’s rates. A 2nd mortgage borrows only against the equity.

1

Keep Your Rate

Your first mortgage stays untouched at its original rate — no reset to today’s higher rates.

2

Pay Less Interest

Higher rate applies only to the equity you borrow, not your entire loan balance.

3

Close Faster

Typical 2–4 week close vs. 30–45 days for a full refinance. Less paperwork.

HELOC vs. Fixed-Rate 2nd Mortgage

Both keep your first mortgage in place. The difference is how you receive and repay the funds.

HELOC — Line of Credit

Revolving credit line. Draw only what you need, when you need it. Variable rate. Typical 10-year draw + 20-year repayment. Best for ongoing projects, phased renovations, or as an emergency reserve.

Fixed-Rate 2nd Mortgage

Lump-sum loan, fixed rate, fixed monthly payment. 15- or 30-year term. Best for a single known cash need: debt consolidation, a big renovation, or an investment property down payment.

HELOC & Home Equity FAQ

Common questions about 2nd mortgages and home equity lines of credit.

Will a HELOC or 2nd mortgage affect my first-mortgage rate?

No. Your first mortgage stays exactly as it is. The 2nd mortgage is a separate lien with its own rate and payment — your existing loan is never touched.

How long does it take to close?

Typically 2–4 weeks. Much faster than a full refinance because the underwriting scope is smaller — we’re only evaluating the equity portion, not the whole property from scratch.

What credit score do I need?

680+ is preferred. Some programs go down to 620 depending on your combined LTV and equity position. The stronger your equity, the more flexibility there is on credit.

How much equity do I need?

Most programs require you to retain at least 15–20% equity after the 2nd mortgage closes. Combined LTV (1st + 2nd) up to 85–90% depending on credit and occupancy type.

Can I use a 2nd mortgage on an investment property?

Yes — select programs offer HELOCs and fixed-rate 2nds on 1–4 unit investment properties. Terms are tighter (lower LTV, higher credit score required), but it’s available.

Is the interest tax-deductible?

For funds used to substantially improve the home, generally yes — subject to IRS rules. If used for debt consolidation or non-home purposes, generally not. Consult your tax advisor.

What’s the difference between a HELOC and a 2nd mortgage?

A HELOC is a revolving credit line with a variable rate — draw and repay as needed. A fixed-rate 2nd mortgage is a lump-sum loan with a fixed rate and fixed payment. HELOCs are better for flexible needs; fixed-rate 2nds are better for predictable payoff.

What can I use the funds for?

Home renovations, debt consolidation, investment property down payments, business capital, education expenses, or emergency reserves. There’s no restriction on use of funds.