Second mortgages
Put your equity to work. Give your first mortgage a reason to stay.
A home equity loan or HELOC may help you access cash without replacing your existing first mortgage. Let’s compare the payment, costs and cash you actually receive.
Help me compare my optionsStart with a message. No application required to ask a question.
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Quick answers
Open a question. Read the answer right here.
Will I have to replace my first mortgage?
A second mortgage generally sits alongside the existing first mortgage. Whether it is the right option depends on eligibility and the combined costs.
How much could I borrow?
Your home value, existing balance, credit, income and the program’s limits all matter. An equity estimate is a starting point, not an approval.
What is the risk?
A second mortgage is secured by your home. Missing required payments can put the home at risk. A HELOC may also have a variable rate and changing payments.
- 01
Start with the real goal
A renovation, a buyout or another expense. What does the money need to accomplish?
- 02
Compare both loan payments
Look at the first and second mortgage together, not just the new payment.
- 03
Look at the cash you receive
Subtract costs and required payoffs so you know what is left for your goal.
Nick’s Lending
The loan amount is only part of the answer.
What matters is what the financing helps you do, what it costs and whether the payment fits. We will help you compare a fixed home equity loan, a HELOC or refinancing when appropriate.
Connections Before Mortgages
Ask our teamA few questions you might have.
Will I have to replace my first mortgage?
A second mortgage generally sits alongside the existing first mortgage. Whether it is the right option depends on eligibility and the combined costs.
How much could I borrow?
Your home value, existing balance, credit, income and the program’s limits all matter. An equity estimate is a starting point, not an approval.
What is the risk?
A second mortgage is secured by your home. Missing required payments can put the home at risk. A HELOC may also have a variable rate and changing payments.
Let’s find your next step.
Help me compare my optionsStart with a message. No application required to ask a question.