Keep your low rate. Unlock your equity.
A Second Mortgage is a loan taken out against your home’s equity that sits behind your existing (first) mortgage. It allows you to access cash without refinancing or replacing your current loan. You keep your first mortgage intact — especially valuable if you already have a low interest rate — while leveraging your equity for additional financing.
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.
Common use cases.
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.
Second Mortgage
- One-time disbursement at closing
- Fixed rate and fixed monthly payments
- 10–30 year terms
- Best for one-time, predictable needs
- Predictable for long-term planning
HELOC
- Revolving line of credit you draw on as needed
- Variable rate — pay interest only on drawn amount
- Draw period followed by repayment period
- Best for ongoing or flexible expenses
- Flexible cash access
Loan amounts depend on four factors.
Many programs allow borrowing up to 85%–90% combined loan-to-value (CLTV) upto $1,000,000 depending on qualifications.
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.
Why work with OptionOne?
At OptionOne, we specialize in structuring second mortgages that align with your overall financial strategy.
Multiple Program Access
Access to both traditional and non-QM second mortgage programs.
Alternative Income Documentation
Ability to qualify using alternative income documentation.
Direct Lender Flexibility
Allowing us to structure deals others cannot.
Fast Closings
Fast, efficient closings with hands-on support.
Unlock your equity without resetting your loan.
Keep your low first mortgage rate. Get cash for what matters.