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HELOC | Second Mortgage

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A Quick Snapshot of Your HELOC or Fixed Second Mortgage Options

HELOC

A HELOC offers flexible access to your home’s equity, working like a credit card with a revolving credit line. Borrow what you need, when you need it, and pay back based on what you use. With the option for interest-only payments, you can manage your cash flow and keep monthly costs low.

Fixed Second Mortgage

A fixed rate second mortgage is similar to a HELOC in the sense that it is a home loan taken out while the original, or first mortgage remains intact. However, a HELOC is an adjustable open line of credit, where a fixed rate second mortgage is a set amount, fixed over a time period of your choosing.

Bank Statement HELOC | Second Mortgage

Perfect for self-employed borrowers or those with non-traditional income, these loans use bank statements instead of traditional income documents. Choose a HELOC for flexible borrowing or a Fixed Rate Second Mortgage for a lump sum with consistent payments. Both options offer tailored solutions to fit unique financial situations.

DSCR HELOC | Second Mortgage

A DSCR (Debt Service Coverage Ratio) loan is designed specifically for real estate investors. Unlike traditional loans that primarily focus on the borrower's personal income and credit score, DSCR loans solely focus on the actual/potential income-generating property being financed.

Reverse HELOC | Second Mortgage

A Reverse HELOC | Second Mortgage offers a revolving line of credit or lump sum amount for homeowners aged 62 or older, allowing access to home equity as needed without monthly payments and without having to payoff an existing low-rate first mortgage lien.

Home Equity Agreement

A Home Equity Agreement allows you to access a portion of your home’s equity without taking on debt or monthly payments. Instead, you receive a lump sum in exchange for a share of your home’s future appreciation. This option is ideal for those looking for immediate funds without increasing their debt burden.

Unlock your home’s value with HELOC loans

A HELOC gives you the convenience of borrowing against your home’s equity as needed, just like a credit card. You only pay for what you borrow, with the flexibility to pay down your balance anytime. Plus, with interest-only payment options, you can manage your monthly expenses more easily. If you have any questions, feel free to contact us—we’re here to help!

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Why choose Select Home Loans?

  • Diverse mortgage options: Conventional, FHA, VA, Reverse Mortgages, Non-QM Loans, HELOC’s and Seconds Mortgages.
  • Trusted reputation: A+ Rated and accredited by the Better Business Bureau.
  • Quick and efficient closings: E-signing and in-house underwriting streamline the process.
  • Customized service: Solutions crafted to meet your specific requirements.
  • Established credibility: A solid track record of trust and excellence.
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Hear What Our Clients Have To Say!

“While visiting my wife's parents who have lived in Florida for a number of years, my wife and I decided to look for a new home. After looking at several homes for sale, my wife and I found the home we wanted. We mentioned to our real estate agent that we would need to obtain a mortgage as it would probably be a year until we were ready to sell our home in New Jersey and he recommended that we contact Select Home Loans. That was the best advice we received. Although we were some 1,300 miles away, our David Shefsky at Select Home Loans walked us through each step requesting the necessary documentation he needed. Two months later, we had our mortgage. One year after that, we became permanent Florida residents and Select Home Loans helped us achieve our goal. Thank you”

Re S.Boca Raton, FL

“I just wanted to send a note to thank you for all of your support and guidance throughout the mortgage process while purchasing our home. It could have been a nerve-racking experience and you very calmly guided me along the way and certainly made the experience much better than it easily could have been. Once again, thank you. It was a pleasure doing business with you and Select Home Loans.”

Isabel B & Gerald BWest Palm Beach, FL

“Thank you Scott, for your superb assistance with Barry & Sally! Really appreciate working with people that take their profession to that next level like you!”

Miriam L.Orlando, FL

“When I found a house I wanted to purchase, was new to the area and just picked a mortgage company out of a hat. Fortunately, this was Select Home Loans and my experience working with my Mortgage Banker was excellent. He was professional, knowledgeable, and efficient, as was his office staff. Although I had the financial resources to pay for the house, my financial situation was unusual, and he was up to the challenge of working out a loan for me with a good interest rate. From start to finish, the process went smoothly and without any surprises. Any potential hitches were dealt with quickly and effectively; his manner was always pleasant and he made himself very available. No long waits for him to call back. I highly recommend Select Home Loans.”

Judy M.Boca Raton, FL