Did you know that you may be able to add a Home Equity Line of Credit (HELOC) to your insured or insurable mortgage without having to refinance your entire mortgage?

This is a unique and little-known product that could help you save thousands of dollars in interest payments over the life of your mortgage.

Most banks require you to refinance your entire mortgage to add a HELOC, which can be costly and result in higher interest rates.

However, select lenders offer a special product that allows you to keep your insured or insurable mortgage as-is and simply add the HELOC as a second mortgage.

This means you could access the equity in your home without sacrificing your lower insured or insurable interest rates!!

If you’re interested in learning more about this cost-saving mortgage product, send me a message and I’ll be happy to explain how it works and connect you with a lender that offers it.