Second Mortgage Rates - 10 YearsCA Current Home Equity Loan Rates

Best Second Mortgage rates in California - Ten Year Loan

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(Last Updated: 02/12/2026)
Home Equity Lenders
APR
Rate
Monthly Payment
 Contact details
6.740% APR 6.740% Rate $1,148 Est. Payment per month
Conditions:
Offers may vary; all loan requests are subject to eligibility requirements, application review, loan amount, loan term, income verification, and lender approval. Product terms are subject to change at any time. Offers are a line of credit. Loans are not available to residents of all states and available loan terms/fees may vary by state where offered. Line amounts between $15,000 and $300,000 and are assigned based on product type, debt-to-income ratio and combined loan-to-value ratio. 10, 15, 20, and 30-year terms available. Minimum 600 credit score applies for debt consolidation requests (20 and 30 year terms require a minimum credit score of 640), minimum 700 applies for cash out requests. Fixed rate APRs range from 6.240%- 14.00% and are assigned based on underwriting requirements. Offer APRs assume automatic payment enrollment which may provide a discount (autopay enrollment is not a condition of loan approval). All terms have a 5-year draw period with the remaining term being a no draw period. Payments are fully amortized during each period and determined on the outstanding principal balance each month. Closing fees range from $750 to $6,685, depending on line amount and state law requirements and typically include origination (up to 3.5% of line amount) and underwriting ($725) fees if allowed by law. Property must be owner-occupied. CLTV ratio may not exceed 75%, including the new loan request. Property insurance is required and flood insurance may be required if the subject property is located in a flood zone. You must pledge your home as collateral. 6.240% APR requires low DTI and CLTV; a maximum loan amount of up to $150,000; 10-year term; FICO 780+; and automatic payment enrollment. Contact Achieve Loans for further details. Equal Housing Opportunity.
  • Competitive rates, Pre-qualify in minutes
  • Mortgage Advisors standing by to help find the best solution
  • Flexible terms with fast funding
  • Minimum credit score: 600
8.000% APR 8.000% Rate $1,214 Est. Payment per month
Conditions:
This is not a pre-approval or an offer of credit. This is an invitation to apply, and in order to qualify for a loan you must meet our credit and other requirements. Applicants are required to provide a current and valid completed application, proof of income, mortgage statement, property hazard insurance, and a photo ID. Approval is contingent upon a full application and is not guaranteed. We will not extend credit if we cannot verify that your credit profile, debt, income, identity, property value, home equity, and title meet our underwriting criteria. Loan terms, rates, and fees are subject to change. Rates and terms may vary and depend on credit score, CLTV (combined loan-to-value), property type, occupancy and loan terms. These results are for informational purposes only. Farmers Bank of Kansas City’s Home Equity Line of Credit (HELOC) has a 20-year repayment term. The first 10 years will be the Draw period with the interest rate based on the Prime Rate published by the Wall Street Journal plus a margin and allows for an interest only payment to be made during the draw period. If a balance is owed after the draw period concludes, the interest rate will become fixed for the remaining 10 years and will be based upon the Prime Rate published by the Wall Street Journal plus a margin. The HELOC interest rate will not go below 5% or higher than 18%. The minimum line amount offered is $25,000 and the maximum line amount offered is $350,000. The minimum draw amount required is $25,000 or half of the maximum line amount, whichever is greater. A HELOC requires you to pledge your home as collateral, and you could lose your home if you fail to repay. Offers, rates and fees are subject to change without notice. Repayment begins approximately 30 calendar days after funding. Farmers Bank of Kansas City also offers a fixed rate Home Equity Loan (HELOAN). Rates vary and depend on credit score, CLTV (combined loan-to-value), property type, occupancy and loan terms.
  • Customized Rate Quote
  • 24/7 Online Borrower Portal
  • Streamlined Online Application
  • Up to 100% LTV
Renovating? Work with experts in renovation financing
Conditions:
Renovation loans available through RenoFi. RenoFi is a broker and does not make credit decisions; loans underwritten and funded by third party lenders. Not available in all states. Not all borrowers or property types qualify. Terms and conditions apply, including acceptable membership requirements stipulated by third-party credit union lenders. Loans above $500K may be subject to additional limitation and underwriting requirements. Closing costs and loan fees apply. Equal Housing Opportunity. NMLS # 1802847 (www.nmlsconsumeraccess.org). In CA: Renovation Technologies Holdings Inc. (NMLS # 2412747), CA Department of Real Estate Broker License # 02195141.
  • Renovating? Work with experts in renovation financing
  • Borrow up to 125% on your current home value to finance renovations
  • Loans up to $750k with competitive rates from Credit Unions
  • Borrow more than a typical HELOC
Get cash now in exchange for a percentage of your homes future equity.
Conditions:
Unlock isn't a lender & doesn't offer loans, so you don't need perfect credit to apply! No Additional Debt!
  • No monthly payments or interest charges
  • Minimum Credit score: 500
  • Access up to $500k
  • No need to refinance
Home Equity Loans & Refinance – Cash out
Conditions:
• Home Equity Loans & Refinance – Cash out • Customized rate quote with no impact to credit • Low Rates, Quick Approvals, Wide Range of Products • Over 100 Billion Funded. 22 Years in Business
  • Home Equity Loans & Refinance – Cash out
  • Customized rate quote with no impact to credit
  • Low Rates, Quick Approvals, Wide Range of Products
  • Over 100 Billion Funded. 22 Years in Business
Get up to $600k with no monthly payments, ever.
Conditions:
Pointʼs Home Equity Investment (HEI) is an entirely new way to unlock your homeʼs wealth. Point partners with and invests alongside the homeowner in the property. Subject to underwriting approval, Point will pay you an upfront, lump sum amount in exchange for a portion of your home’s future appreciation. Future appreciation is based on using the risk adjusted Appreciation Starting Value and calculating any gain or loss based on the final appraised value of your home at the time of exit. Point charges up to a 3.9% processing fee (subject to a $2,000 minimum) and other third party paid closing costs such as appraisal, escrow, and government fees. The term is 30 years. Point will place a lien on your home to secure performance of the underlying agreement. There are no monthly payments or interest accrual. Homeowner’s repayment amount is based on the future value of the subject property at the time of exit, as outlined in the underlying agreement.
  • Use your funds your way
  • No income verification - ideal for self-employment or retirement planning
  • Enjoy maximum flexibility - 30 year term, no prepayment penalties
  • Home Equity Investments are not considered a loan in all states
7.250% APR 7.250% Rate $1,175 Est. Payment per month
8.000% APR 8.000% Rate $1,214 Est. Payment per month
7.250% APR 7.250% Rate $1,175 Est. Payment per month
7.125% APR 7.125% Rate $1,168 Est. Payment per month
7.750% APR 7.750% Rate $1,201 Est. Payment per month
8.500% APR 8.500% Rate $1,240 Est. Payment per month
6.500% APR 6.500% Rate $1,136 Est. Payment per month
7.625% APR 7.625% Rate $1,194 Est. Payment per month
8.125% APR 8.125% Rate $1,220 Est. Payment per month
7.900% APR 7.900% Rate $1,208 Est. Payment per month
8.400% APR 8.400% Rate $1,235 Est. Payment per month
7.500% APR 7.500% Rate $1,188 Est. Payment per month
7.500% APR 7.500% Rate $1,188 Est. Payment per month
Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.

Unlocking Financial Potential with Second Mortgages: A Comprehensive Guide

In the world of real estate financing, second mortgages, often referred to as "2nd mortgages" or "second mortgages," offer homeowners a versatile financial tool to tap into their home's equity for various purposes. Whether you're looking to consolidate debt, fund home improvements, or cover unexpected expenses, a second mortgage can provide the financial flexibility you need. In this article, we'll explore the concept of second mortgages, their benefits, and how they work.

What Is a Second Mortgage?

A second mortgage is a loan secured by your home, in addition to your primary mortgage (the first mortgage). It allows you to borrow against the equity you've built up in your property. Homeowners often use second mortgages to access funds for large expenses without the need to refinance their existing home loan.

Types of Second Mortgages:

Home Equity Loan:

A home equity loan is a lump-sum loan that lets you borrow a fixed amount of money based on your home's equity. You receive the funds upfront and repay them with a fixed interest rate over the loan term.

Home Equity Line of Credit (HELOC):

A Home Equity Line of Credit (HELOC) is a revolving line of credit that allows you to borrow money as needed, up to a predetermined credit limit. You can access funds when you choose, repay them, and then borrow again, much like a credit card.

Benefits of Second Mortgages:

Access to Home Equity:

Second mortgages enable homeowners to access the equity they've built in their homes, providing a source of funds for various financial goals.

Lower Interest Rates:

Second mortgages often come with lower interest rates compared to other forms of borrowing, such as credit cards or personal loans, making them a cost-effective option.

Flexible Use of Funds:

Borrowers can use the funds from a second mortgage for a wide range of purposes, including home improvements, debt consolidation, education expenses, or even as a financial safety net.

Potential Tax Benefits:

In some cases, the interest paid on a second mortgage may be tax-deductible, particularly when the funds are used for home improvements or qualifying expenses. Be sure to onsult a tax advisor.

How Second Mortgages Work:

To obtain a second mortgage, homeowners typically follow these steps:

Assess Equity:

Determine the amount of equity you have in your home, which is the difference between your home's current value and the outstanding balance on your primary mortgage.

Choose the Type:

Decide whether a home equity loan or HELOC best suits your needs and financial situation.

Application Process:

Apply for the second mortgage with a lender of your choice. Be prepared to provide financial documents and information about your home.

Appraisal:

The lender may require a home appraisal to assess the property's current value accurately.

Approval and Terms:

If approved, you'll receive the terms of your second mortgage, including the interest rate, loan amount, and repayment schedule.

Disbursement:

With a home equity loan, you'll receive a lump sum upfront. With a HELOC, you'll have access to a line of credit to use as needed.

Repayment:

Make regular payments, including principal and interest, according to the terms of your second mortgage.

Conclusion:

Second mortgages, whether you refer to them as "2nd mortgages" or "second mortgages," offer homeowners an effective way to leverage their home equity for various financial goals. They provide access to funds at competitive interest rates, making them an attractive borrowing option. However, it's essential to understand the terms, potential tax implications, and the impact on your overall financial situation before taking out a second mortgage. Careful consideration and responsible borrowing can help you unlock the financial potential of your home equity while achieving your financial objectives.

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