Wipe out high-interest debt. Keep your low mortgage rate.
Take the weight of 22%+ credit cards and high-rate monthly bills off your shoulders. An OptionOne Fixed-Rate Second Mortgage lets you access up to $1,000,000 in equity with one simple, predictable monthly payment — leaving your original 3% mortgage completely untouched.
Lump sum. Fixed terms.
No refinance.
Unlike a HELOC, this is a one-time disbursement — not a revolving line.
Lump Sum at Closing
You receive a lump sum of cash at closing.
Secured by Your Home
The loan is secured by your home, in second lien position.
Fixed Monthly Payments
You make fixed monthly payments (principal + interest).
10–30 Year Terms
Terms typically range from 10 to 30 years.
Tap into up to $1,000,000.
Use your home equity for any reason. Whether it's home renovations, consolidating high-interest debt, funding a business venture, or paying for tuition, OptionOne makes tapping into your hard-earned equity quick and stress-free.
Why use a 2nd mortgage?
Home Renovations or Expansions
Improve your living space and increase property value.
Debt Consolidation
Combine high-interest debts into one manageable payment.
Business or Investment Opportunities
Fund new ventures using your home’s equity.
Major Life Expenses
Cover education, medical, or other significant costs.
Two ways to tap equity.
Both leverage your home’s equity, but each fits a different need.
Fixed Second Mortgage
- Lump-sum cash disbursement up to $1,000,000 at closing
- Fixed interest rate with consistent, predictable monthly payments
- 10–30 year terms — fully amortizing with no balloon payments
- Best for debt consolidation, major renovations, or investments
- Preserve your existing low 2.5%–4% first mortgage intact
HELOC
- Flexible revolving credit line up to $500,000
- Draw funds on demand — pay interest only on what you draw
- 10-year flexible draw period followed by structured repayment
- Best for phased home projects, business cash flow, or emergency reserve
- Tap equity without resetting your primary mortgage rate
Loan amounts depend on four factors.
Borrow up to 85%–90% Combined Loan-to-Value (CLTV), with combined lien limits reaching up to $4,000,000 across your first and second mortgages.
Home’s Current Market Value
The appraised value of your property.
Existing Mortgage Balance
What you currently owe on your first mortgage.
Credit Profile (FICO)
Your credit score and history.
Income & Financial Strength
Your ability to repay the loan.
Documents to apply.
Borrower & Property Info
Basic borrower and property information.
Income Documentation
Full doc or alternative options available.
Mortgage Statement
Recent mortgage statement.
Credit Review
Credit review as part of the application process.
Second mortgage loan details.
Second Mortgage Program
Access your home equity without disturbing your existing first mortgage rate.
Qualification Details
- Credit Score 620+
- Combined LTV Up to 89.99% CLTV (90% Max)
- Loan Amount Up to $1,000,000 (HELOCs to $500K)
- Combined Lien Limits Up to $4,000,000
- Occupancy Primary & 2nd Home
- Term 10, 15, 20, 30 yr fixed
Program Highlights
- Fixed rate — fully amortizing, no balloon payment
- Keep your existing first mortgage and its rate
- Funds usable for any purpose: renovation, debt, education
- Full doc and bank statement qualification options
- DTI up to 50% considered
- Equity requirements vary by credit tier
Join our satisfied customers.
Over 420+ verified homeowners and property investors trust OptionOne for fast, flexible home equity financing.
Home Equity & 2nd Mortgages: Q&A.
Everything you need to know about accessing your equity while keeping your primary mortgage rate intact.
There are absolutely no restrictions on how you use your money. Borrowers commonly utilize their funds for:
- Debt Consolidation: Pay off high-interest credit cards (often 20%–28% APR) and personal loans to consolidate into one low, manageable monthly payment and save thousands in interest.
- Home Renovations & Additions: Remodel kitchens, add square footage, install pools, or upgrade systems to substantially boost your property's value.
- College Tuition & Education: Fund university tuition or professional education without taking high-rate private student loans.
- Investments & Real Estate: Secure capital for lucrative business opportunities, down payments on investment properties, or stock market portfolios.
- Business Cash Flow & Reserves: Bolster working capital, finance inventory, or build a resilient emergency liquidity reserve.
If you locked in an existing primary mortgage rate between 2.5% and 4.0% during recent years, refinancing your entire outstanding balance in today's higher interest rate environment would unnecessarily drive up your monthly payment by hundreds or even thousands of dollars.
A Second Mortgage or HELOC from OptionOne sits safely in second position behind your current loan. You preserve your existing low first mortgage terms intact, avoiding higher interest on your primary balance while accessing substantial liquidity at competitive, fixed second-lien rates.
Both loan options allow you to access your home equity without disturbing your first mortgage, but they cater to different financial strategies:
- Lump-Sum Payout: Receive up to $1,000,000 in cash at closing.
- Fixed Monthly Payment: Locked-in interest rate and predictable monthly payments for the entire term (10, 15, 20, or 30 years).
- No Balloon Payments: Fully amortizing loan schedule with zero payment shocks.
- Best For: Immediate debt consolidation, one-time home improvements, or major planned investments.
- Flexible Revolving Line: Access credit line limits up to $500,000.
- Pay Only What You Draw: Pay interest strictly on the capital you borrow, not the entire approved limit.
- 10-Year Draw Period: Draw, repay, and redraw as needed during the initial 10 years, followed by repayment.
- Best For: Phased renovations, ongoing business expenses, or having on-demand emergency liquidity.
OptionOne allows eligible homeowners to borrow up to 85% to 90% Combined Loan-to-Value (CLTV), with combined lien limits reaching up to $4,000,000 across first and second mortgages.
Example Calculation: If your home is appraised at $1,000,000 and you currently owe $500,000 on your first mortgage (50% LTV), at a 90% CLTV cap ($900,000 total borrowing power), you could qualify to access up to $400,000 in cash equity — all without touching your primary low rate!
*Final borrowing limits depend on credit profile (620+ FICO), debt-to-income (DTI) up to 50%, property occupancy (primary or second home), and program documentation tier (Full Doc or Bank Statement).
Getting approved with OptionOne is fast, seamless, and completely secure. Follow our 4 simple steps to access your home equity:
You calculate your home equity by subtracting your outstanding mortgage balance from your home's estimated current market value.
Example: If your home is currently worth $1,200,000 and your first mortgage balance is $600,000, you have $600,000 in total equity. Under OptionOne's 90% CLTV guideline ($1,080,000 maximum combined liens), you can qualify to access up to $480,000 in cash while leaving your primary low-rate mortgage untouched.
No. Your initial rate check and pre-qualification with OptionOne uses a soft credit inquiry, which has zero impact on your credit score. You can see your eligible borrowing limit and rates with total peace of mind.
A standard credit review is only conducted later during formal loan underwriting once you choose to proceed with your preferred loan structure.
No. Your existing primary mortgage and your new second mortgage or HELOC do not need to be with the same institution.
OptionOne provides standalone second mortgages and HELOCs that record cleanly in second lien position behind any bank, credit union, or loan servicer nationwide, allowing you to preserve your original favorable terms.
Yes, absolutely. While traditional big banks often turn away business owners, freelancers, and 1099 contractors due to tax deductions, OptionOne offers dedicated 12- and 24-Month Bank Statement qualification programs.
We calculate qualifying income directly from your business or personal bank deposits — no tax returns or W-2s required.
Unlock your equity without resetting your loan.
Keep your low first mortgage rate. Get cash for what matters.