Second Liens
HELOC (Home Equity Line of Credit)
Unlock the potential of your home equity with a CMRE Home Equity Line of Credit (HELOC). A HELOC provides you with a revolving line of credit, secured by your home, offering flexibility for renovations, debt consolidation, or other financial needs. With competitive rates starting at 8.5%, and the ability to borrow up to 90% of your home's value, a CMRE HELOC puts you in control.
Program Benefits
Access a revolving line of credit secured by your home's equity.
Competitive interest rates, starting at 8.5%, potentially lower than credit cards or personal loans.
Use funds for home improvements, debt consolidation, or other major expenses.
Draw funds as needed and only pay interest on the amount you use.
Potential tax advantages (consult your tax advisor).
Borrow up to 90% of your home's value, giving you substantial financial flexibility.
Program Highlights
Max LTV
90%
Min Credit Score
680
Max DTI
50%
Loan Amount Range
$25K - $500K
Amortization Options
Eligible Properties
- Single Family
- Townhouse
- Condo
Program Requirements
Income Documentation
- •Stable and verifiable income is required.
- •Sufficient income to repay the HELOC and other debts.
- •Documentation such as pay stubs, W-2s, and tax returns may be required.
- •Self-employed borrowers may need to provide additional documentation.
Asset Verification
- •Sufficient assets to cover closing costs and potential financial setbacks.
- •Documentation of assets, such as bank statements and investment account statements.
- •Verification of liquid assets may be required.
- •Review of overall financial stability.
Insurance & Title
- •Hazard insurance is required to protect the property.
- •Flood insurance may be required if the property is in a flood zone.
- •Adequate coverage to protect the lender's interest.
Property Requirements
- •Minimum FICO score of 680 required.
- •A strong credit history with a record of responsible debt management.
- •Limited past-due accounts or collections.
- •Review of credit report for any derogatory marks.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
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 HELOC is a revolving line of credit, while a home equity loan is a fixed-sum loan. With a HELOC, you can draw funds as needed, up to a certain limit, and repay the borrowed amount over time. With a home equity loan, you receive a lump sum upfront and repay it in fixed monthly installments.
The amount you can borrow with a HELOC depends on your home's equity, credit score, and income. CMRE allows you to borrow up to 90% of your home's value, minus any outstanding mortgage balance, with a qualifying credit score and income verification.
CMRE offers competitive interest rates starting at 8.5% on HELOCs. Interest rates are variable and tied to market conditions. Fees may include application fees, appraisal fees, and annual fees. Contact us for a personalized quote and a complete list of fees.
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
"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
"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."
