Second Liens

HELOAN (Fixed Equity Loan)

Unlock the equity in your home with a CMRE HELOAN (Fixed Equity Loan) and gain access to funds for renovations, debt consolidation, or any major expense. With a HELOAN, you'll enjoy the stability of a fixed interest rate, starting at 8.5%, and predictable monthly payments, making budgeting simple and stress-free. Take advantage of your home's value to achieve your financial goals.

Last updated on February 27, 2026

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Program Benefits

Fixed interest rates starting at 8.5% ensure predictable monthly payments.

Access funds for home improvements, debt consolidation, or large purchases.

Utilize your home's equity without refinancing your existing mortgage.

Flexible loan amounts to suit a variety of needs and projects.

Simplified application process with CMRE's expert guidance.

Potential tax benefits (consult your tax advisor).

Program Highlights

Max LTV

90%

Min Credit Score

680

Max DTI

50%

Loan Amount Range

Varies based on equity and creditworthiness

Amortization Options

5 Year Fixed10 Year Fixed15 Year Fixed20 Year Fixed

Eligible Properties

  • Single Family
  • Townhouse
  • Condo

Program Requirements

Income Documentation

  • •Stable employment history with verifiable income.
  • •Sufficient income to cover existing debts and the new HELOAN payment.
  • •Documentation such as pay stubs, W-2s, and tax returns may be required.
  • •Self-employed borrowers may need to provide additional documentation, such as profit and loss statements.

Asset Verification

  • •Verification of assets to demonstrate financial stability.
  • •Acceptable assets include savings accounts, investment accounts, and retirement funds.
  • •Sufficient assets to cover closing costs and any potential financial setbacks.
  • •Documentation such as bank statements and investment account statements will be required.

Insurance & Title

  • •Maintain adequate homeowner's insurance coverage.
  • •Proof of flood insurance may be required if the property is located in a flood zone.
  • •Lender may require hazard insurance to protect against potential losses.
  • •Ensure the insurance policy covers the loan amount.

Property Requirements

  • •Minimum FICO score of 680 required.
  • •Review of credit history to assess creditworthiness.
  • •A strong credit history with minimal delinquencies or defaults is essential.
  • •Debt-to-income ratio will be evaluated to ensure affordability.

Application Process

Six simple steps from application to funding

STEP 1

Application

Complete our streamlined online application form with your financial information

STEP 2

Document Review

Submit required documentation for verification and processing

STEP 3

Pre-Approval

Receive conditional approval and loan terms based on your profile

STEP 4

Title & Escrow

Open escrow and complete title search and insurance requirements

STEP 5

Appraisal & Final Review

Property appraisal completed and final underwriting approval received

STEP 6

Funding

Sign final documents and receive your loan funds

Start Your Application

Why Choose Custom Mortgage?

Your trusted partner in real estate financing

Extensive Experience

Over 25 years of proven expertise in mortgage lending and real estate financing

Comprehensive Loan Options

Wide range of programs from conventional to specialized non-QM and hard money solutions

Nationwide Coverage

Licensed in multiple states with the ability to fund loans across the country

Flexible Solutions

Customized financing options for unique situations that traditional lenders decline

Competitive Rates

Access to wholesale pricing and volume discounts passed directly to our clients

No Upfront Fees

Transparent pricing with no application fees or upfront costs to get started

Frequently Asked Questions

A HELOAN provides a lump sum of cash with a fixed interest rate and repayment term, while a HELOC is a revolving line of credit with a variable interest rate. HELOANs offer predictable payments, whereas HELOC payments can fluctuate.

The amount you can borrow depends on your creditworthiness, income, and the equity in your home. CMRE offers HELOANs up to 90% LTV, but the specific amount will vary based on individual circumstances.

Closing costs for a HELOAN can include appraisal fees, title insurance, and recording fees. CMRE will provide you with a detailed estimate of closing costs before you commit to the loan.

In some cases, the interest paid on a HELOAN may be tax-deductible. Consult with a qualified tax advisor to determine your eligibility for tax benefits.

A photo of Dan K.

Dan K.

Senior Loan Strategist

With over 15 years in the mortgage industry, Dan specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.

NMLS #12345 | Certified Mortgage Advisor (CMA)

TESTIMONIALS

Success stories from families and investors across the nation who achieved their goals with CMRE.

"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."

RENE M

RENE M

"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."

ARTHUR G

ARTHUR G

"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."

FERESHTEH B

FERESHTEH B