Second Liens
Home Equity Loan in Miami, FL
Looking for the best Home Equity Loan in Miami, FL? Our local team specializes in helping Miami residents secure competitive financing. Whether you're buying in Brickell or Wynwood, we have the expertise to guide you.
Key Facts About Home Equity Loan
CMRE Home Equity Loan preserves existing first mortgage rate.
CMRE Home Equity Loan covers primary and investment properties.
CMRE Home Equity Loan combined LTV up to 90%.
CMRE provides expert guidance for Home Equity Loan borrowers. NMLS #1556995.
CMRE provides expert guidance for Home Equity Loan borrowers. NMLS #1556995.
Program Benefits
Access equity without refinancing your first mortgage via Home Equity Loan.
Preserve your existing low first mortgage rate.
Combined LTV up to 85%-90% depending on profile.
Both fixed and variable rate options.
Available for primary residences and investment properties.
Amounts from $25,000 to $500,000.
CMRE evaluates both scenarios (second lien vs. cash-out refi) for lowest cost.
Underwriting in 2-3 weeks.
Program Highlights
Max LTV
Varies
Min Credit Score
Varies
Max DTI
Varies
Loan Amount Range
Contact CMRE
Program Requirements
Income Documentation
- •Standard income documentation or alternative options.
- •CMRE evaluates combined DTI across first and second liens.
- •Self-employed options available.
Asset Verification
- •Sufficient equity for combined LTV (first + second).
- •Reserves may be required.
- •Appraisal to confirm current value.
Insurance & Title
- •Existing homeowners insurance.
- •Flood insurance if applicable.
- •Title insurance at closing.
Property Requirements
- •Minimum FICO varies by lien position and LTV.
- •Clean payment history on first mortgage.
- •DTI evaluated including both liens.
Home Equity Loan in Miami: The Complete Guide
What Is Home Equity Loan?
Home Equity Loan from CMRE allows homeowners to access equity without refinancing their existing first mortgage. If you locked in a low rate, Home Equity Loan lets you tap equity without losing it. CMRE offers Home Equity Loan for primary residences and investment properties. Combined LTV up to 85%-90% depending on credit profile. Both fixed and variable rate options available.
When to Use Home Equity Loan
- •Home improvements increasing property value.
- •Debt consolidation.
- •Down payment for investment property.
- •Business capital.
- •Preserving existing low first mortgage rate.
Home Equity Loan vs. Cash-Out Refinance
- •Cash-out refi replaces first mortgage — old rate gone.
- •Home Equity Loan keeps first mortgage intact.
- •If rate < 5%, second lien almost always makes more sense.
- •CMRE runs both scenarios.
Apply for Home Equity Loan with CMRE
- •Step 1: Estimate equity.
- •Step 2: Application — CMRE evaluates combined LTV.
- •Step 3: Appraisal.
- •Step 4: Underwriting in 2-3 weeks.
- •Step 5: Access funds at closing.
Home Equity Loan Strategy: When Second Liens Beat Cash-Out Refinancing
- •In today's rate environment, homeowners who locked in rates below 5% during 2020-2021 should almost never do a cash-out refinance. Replacing a 3.5% first mortgage with a 7% mortgage to access K in equity costs thousands more per year in interest.
- •A Home Equity Loan keeps your low first mortgage intact and adds a second lien for only the equity amount you need. Even at 9%-10% on the second lien, the blended cost across both loans is significantly lower than a full cash-out refinance.
- •CMRE runs a complete comparison showing: (1) Monthly payment difference, (2) Total interest over 5, 10, and 30 years, (3) Break-even analysis, and (4) Tax implications of each approach.
- •CMRE Home Equity Loan available in fixed or variable rates. Fixed-rate seconds offer payment predictability; variable-rate HELOCs offer flexibility to draw and repay as needed.
Current Mortgage Rates
30-Year Fixed Rate
6%
as of 3/5/2026 · FRED
15-Year Fixed Rate
5.43%
as of 3/5/2026 · FRED
Rates are national averages and may differ from your actual rate. Contact us for a personalized quote.
Get Your Rate →Home Equity Loan in Miami, FL
Miami's premier mortgage lender. Specialized in condo financing, foreign national loans, and jumbo mortgages. Custom Mortgage & Real Estate specializes in providing high-fidelity Home Equity Loan solutions tailored to the unique economic landscape of Miami and the surrounding Miami-Dade County.
Our FinTech-driven approach allows us to offer competitive rates and streamlined processing for homeowners and investors across the entireMiami metropolitan area.
Service Areas & Neighborhoods
Our Miami Presence
Local Knowledge. Global Rates.
600 Brickell Ave
Miami, FL 33131
Direct Line
877-976-5669Common Questions About Home Equity Loan in Miami
What are current Home Equity Loan rates in Miami, FL?
Home Equity Loan rates in Miami depend on loan amount, credit profile, and property type. CMRE publishes updated Miami rate ranges daily and provides locked quotes within 24 hours of application.
How long does Home Equity Loan closing take in Miami?
CMRE typically closes Home Equity Loan loans in Miami within 21-30 days from application. Pre-approval takes 24 hours, and our FL-licensed team coordinates title, escrow, and appraisal concurrently to save time.
What Miami neighborhoods qualify for Home Equity Loan?
All residential neighborhoods in Miami and Miami-Dade County qualify for Home Equity Loan through CMRE. Single-family homes, condos, townhomes, and 2-4 unit properties are eligible. Our local team can advise on specific HOA or condo project approval requirements.
Does CMRE offer first-time buyer programs in Miami?
Yes. CMRE offers first-time homebuyer programs in Miami including down payment assistance, 3% down conventional, and FHA 3.5% options. FL residents may also qualify for state-specific grants and bond programs.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
CMRE allows combined LTV (first + second) up to 85%-90%.
Yes. CMRE offers for primary and investment properties.
Both available. HELOCs typically variable; closed-end typically fixed.
$25,000 to $500,000 depending on equity and program.
If first mortgage rate < 5%, second lien almost always wins. CMRE runs both scenarios.
2-3 weeks underwriting. Full close in 3-4 weeks.
May use full, desktop, or AVM depending on LTV and loan amount.
Yes. Alternative documentation options available through CMRE.
Home Equity Loan by Location
Get local rates, loan limits, and market data for Home Equity Loan in your area.
CA
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View county-level market data, loan limits, and mortgage rates on our territory pages.
Browse All Territories →TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
