(267) 398-5499

Refinance & Home Equity

Home Equity Loan / HELOC

Tap your equity and keep your first mortgage.

Overview

A home equity loan or home equity line of credit (HELOC) is a second mortgage that lets you borrow against your home's equity without refinancing your first mortgage, so you can keep a low existing rate. A home equity loan gives you a lump sum at a fixed rate; a HELOC is a credit line you draw from as needed.

Ideal For

Homeowners with a low first-mortgage rate who need funds for renovations, debt consolidation, tuition or other big expenses.

Program Highlights

  • ✓Keep your current first mortgage and its rate
  • ✓Fixed-rate lump sum (home equity loan) or flexible credit line (HELOC)
  • ✓Amount available depends on your home value, first mortgage balance and credit
  • ✓HELOC rates are typically variable

Program terms and eligibility are subject to underwriting guidelines and may vary. 1st 2nd Mortgage Co. of N.J., Inc. is licensed in DE, VA. NMLS # 115981.