Home Equity Loans and Second Mortgages

Home equity lines of credit (often referred to as HELOCs) and fixed rate second mortgages are available again at Mortgage Master Service Corporation.

You can use a home equity loan or fixed-rate second mortgage to access home equity without doing a cash-out refinance of your first mortgage. This may be really desirable considering the appreciation of homes and recent low mortgage rate environment. Click here for current mortgage rates for your Washington state home.

Here are some of the features:

  • Variable home equity lines of credit or fixed rate fully amortized second mortgages
  • Single family residences or condos
  • Second homes
  • Investment properties, 1-2 unit (fixed rate second mortgages only)
  • Credit scores 620 or higher
  • Higher combined loan-to-values
  • No prepayment penalties
  • Stand alone or piggy-back
  • No seasoning after purchase.

I should add that if you’re considering buying a home and wanting to access your home equity for the down payment on your next home, a bridge loan may be an option worth considering.

I am happy to review your options if you are considering buying, refinancing or need a second mortgage/HELOC for your home located anywhere in Washington state. Please contact me!

Comments

  1. Can I refinance a heloc? says

    It is possible to refinance a current HELOC through you? Or is there a better way to access my home equity to for a down payment on an investment property? I’m trying to buy a condo for my daughter to live in during college. I have been consulting some online resources to try to figure out what are my best options. Thanks.

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