If you are considering cash out via 2nd mortgage or HELOC, you have come to the right place!
At Equitable Lending, we are your trusted Direct Mortgage Lender specializing in a wide range of loans, from Mortgage Purchase Loans to Refinance and Reverse Mortgages. Our goal is to provide you with personalized solutions to meet your lending needs.
If you’re looking to tap into your home’s equity, Second Mortgages and HELOCs (Home Equity Lines of Credit) are two popular options.
A second mortgage is a lump-sum loan that uses your home’s equity as collateral. It’s separate from your primary mortgage and is repaid over a fixed term with set monthly payments and a fixed interest rate. This option is ideal for one-time expenses, such as home renovations, debt consolidation, or major purchases.
A HELOC works more like a credit card. You’re approved for a revolving line of credit based on your home’s equity, and you can borrow from it as needed—only paying interest on the amount you use. HELOCs typically have a variable interest rate and offer more flexibility, making them great for ongoing or unpredictable expenses.
Key Differences at a Glance:
| Feature | Second Mortgage | HELOC |
|---|---|---|
| Payout Type | Lump sum | Line of credit (draw as needed) |
| Interest Rate | Usually fixed | Usually variable |
| Repayment | Fixed monthly payments | Interest-only during draw period |
| Best For | One-time expenses | Ongoing/flexible borrowing needs |
Getting started is easy! Visit our website to fill out a consultation form, and one of our mortgage specialists will contact you to discuss your loan needs and how our solutions can benefit you.
Equitable Lending specializes in various mortgage products, including Mortgage Purchase Loans, Refinance Loans, Reverse Mortgages, and more tailored for both first-time home buyers and investors.
Yes, there are various government-backed loans such as FHA and VA loans that can assist you. Our team can guide you through the available options to maximize your benefits. Please visit our FHA and VA Loans page for more details.
Once you decide to move forward, our team will assist you in filling out the required paperwork and gather all necessary documents for your application, ensuring a smooth process from start to finish.
You will receive regular updates via email from our team regarding your application status. If you have any questions, you can always reach us at Contact Us.
If you encounter any issues, our customer service team is here to help! You can reach out through our website or give us a call at (877)885-0111, and we will arrange for prompt support.
Yes! As your financial needs change, we can work with you to expand your mortgage options, exploring opportunities such as Non-QM Loans or investment properties.
We offer support for our mortgage products throughout the life of the loan. Homeowners can rely on our team for assistance and guidance, ensuring a smooth experience even after the loan is finalized.
Experience simplified mortgage solutions tailored for your needs, whether you're buying, refinancing, or investing.