(631) 629-6606Keep your low mortgage rate. Tap your home equity with a HELOC.
A HELOC lets you borrow against your home without refinancing the mortgage you already have. Answer a few questions to see which option fits you. It takes about 2 minutes and doesn't check your credit.
Which state is the home in?
Why not just refinance?
If your mortgage rate is under 5%, a cash-out refinance replaces it with today's rate on your whole balance. A HELOC is a separate second loan. Your first mortgage stays exactly as it is.
Two ways to borrow against your home
A line of credit (HELOC).
Borrow what you need, when you need it. Good for projects you pay for in stages.
A lump sum (home equity loan).
One amount up front with a fixed payment. Good for paying off debt all at once.
Not sure which you need? The questions above sort it out.
Why work with a broker
A bank offers you one product. I compare several lenders and tell you which one fits your situation, or tell you if none do.
Lenders differ more than most people expect. Some use an automated home value, others require an appraisal. Credit and income requirements vary by lender.
I'm Sukesh Shekar, founder of Altgage, based in Boston. You'll talk to me, not a call center.
Questions
Does this affect my credit?
No. Answering these questions doesn't check your credit. A lender checks credit only if you apply.
How much can I borrow?
Most lenders let your mortgage plus the new loan reach 80% to 90% of your home's value. The limit depends on your credit, the property, and your state.
How long does it take?
Some lenders fund in about a week. Others take several weeks. I'll tell you what to expect for your situation.
What will it cost?
Rates and fees depend on your credit, your equity, and the lender. I'll give you real numbers on a call.
Where do you lend?
Altgage is licensed in Massachusetts, Texas, Florida, Colorado, California, and Georgia.