Love your mortgage rate?
Keep it.*
Your equity. Your terms. A second-lien HELOC is a new line of credit that sits behind the mortgage you already have.
Explore Your Options
Second-lien HELOC
vs. cash-out refinance
| Feature | Second-lien HELOC | Cash-out refinance |
|---|---|---|
| Your first mortgage | Second-lien HELOCStays in place* | Cash-out refinanceReplaced with a new loan |
| How you get funds | Second-lien HELOCA line you draw as needed | Cash-out refinanceOne lump sum at closing |
| Interest | Second-lien HELOCOnly on what you draw | Cash-out refinanceOn the full new loan balance |
Second-lien HELOC
at a glance
Your final terms depend on the program, occupancy, and your borrower profile.
- Line amounts
- $5,000 to $1,000,000
- Lien position
- 2nd, behind your mortgage
- Occupancy
- Owner & non-owner
- Eligible property types
- SFR, condo, PUD, townhome, 2-4 unit
*Eligible second-lien HELOC financing only. Existing first mortgage may remain in place. Second-lien HELOC eligibility and approval requirements apply.
Keep your rate. Use your equity.
Soft credit check only: starting won't affect your score.