I need cash—but want to keep my first mortgage.
Replacing your whole mortgage to borrow additional cash can have a very different cost from adding a separate loan. Compare the combined payments and total cost—not just the rate on the new money.
What we’ll work through.
- How much cash do you need, and when do you need it?
- What rate, balance and remaining term does your current mortgage have?
- Would a lump sum or a line of credit fit the expense better?
Useful for our first conversation
- Your current first-mortgage rate, balance and payment—estimates are fine.
- The amount and purpose of the additional funds.
- Whether the spending happens all at once or over time.
No documents, Social Security numbers or account details in the website inquiry. Aaron will confirm any secure follow-up requirements.
Questions you may have
Will a home equity loan replace my current first mortgage?
A separate second-lien loan generally does not replace the first mortgage. Actual lien and product terms require confirmation.
Is a HELOC payment always interest-only?
No. Payment structure, draw requirements and repayment terms vary. Ask about both the draw period and the later repayment period.
Aaron Clowes
Air Force veteran. More than two decades in mortgage lending. Clear explanations, practical comparisons and a conversation about what works for you.
NMLS #200900 · CA DRE #02103379
New Way Mortgage is powered by Xpert Home Lending, Inc. · NMLS #2179191 · Equal Housing Lender.
Reviews are hosted by Zillow. Visit the source for review dates and details; past experiences do not guarantee your outcome.
What happens after you reach out?
- Aaron reviews your goals and the information you share.
- You confirm details and compare available paths, costs and tradeoffs.
- You decide whether to apply through the secure Xpert application.
No approval, rate or response-time guarantee. An inquiry does not authorize a credit pull.