LOAN PROGRAM
HELOC & Home Equity Loan
Use your equity without disturbing your low first-mortgage rate.
A HELOC (Home Equity Line of Credit) gives you a revolving line you can draw from as needed. A fixed home equity loan gives you a lump sum at a fixed rate. Both let you keep that 3% first mortgage in place.
HIGHLIGHT
Up to 90% CLTV
Combined loan-to-value up to 90% on most owner-occupied homes.
HIGHLIGHT
Interest-Only Draws
Pay only interest on what you draw during the draw period.
HIGHLIGHT
Fast Funding
Many HELOCs fund in 7–14 days — much quicker than a cash-out refi.
HIGHLIGHT
Flexible Use
Renovations, tuition, debt consolidation, or business capital.
HELOC vs. Home Equity Loan
A HELOC is a credit line variable rate, draw as needed. A home equity loan is a one-time disbursement at a fixed rate, fully amortizing. Dana will model both against your goals.
Why Not Just Cash-Out Refi?
If your first mortgage is at a much lower rate than today’s market, refinancing the whole loan to access equity is expensive. A second-position HELOC lets you keep that rate intact.
What You’ll Need
Recent pay stubs, last 2 years W-2s/tax returns, statement on the existing first mortgage, and your current homeowners insurance declaration.
BEST FOR
- Homeowners with 20%+ equity
- Renovation or remodel projects
- Debt consolidation strategies
- Buyers wanting to keep a low first-mortgage rate
Other Programs
LET’S TALK
Ready to start your mortgage journey?
One conversation. Real numbers. Honest advice directly from Dana.
