— NEXA HELOC • Home Equity Made Simple
Love Your Mortgage Rate? Keep It. Tap Into Your Home Equity.
You may not need to refinance your first mortgage to put the equity you've built to work. NEXA HELOC offers an online way to explore equity for debt consolidation, renovations, and major goals while leaving an existing first mortgage in place, subject to eligibility.
Fast Online Process100% Online
5 minutes
Approval in as few as*
5 business days
Funding in as few as*
Checking your options uses a soft credit inquiry; formal underwriting may involve a hard inquiry. Eligibility depends on your property, credit, income and equity.
*For eligible applications, subject to verification of income, employment and property condition. Five-business-day funding assumes remote online notarization and applicable recording/closing conditions. Loans requiring an appraisal (including some over $400,000), in-person closing or waiting periods can take longer. Timelines are not guaranteed.
— One home. Two separate loans.
1st lien
Your existing first mortgage
Stays in place
Separate 2nd lien
NEXA HELOC
Access eligible equity
- Online Application
- Soft Credit Check to Start
- Keep Existing First Mortgage*
Keep your first-mortgage rate
A HELOC is a separate second-lien line, so your existing first mortgage can stay in place, subject to qualification.
Convenient online application
Check your options and complete NEXA's secure application online, at your own pace.
Access eligible home equity
Use available equity under the loan terms, with potential credit lines up to $750,000 for qualified applicants.
How Homeowners Put Equity to Work.
- 01
Debt consolidation
Some homeowners use equity to combine higher-interest balances. Whether it helps depends on your rate, fees, term and repayment habits.
- 02
Renovation & ADUs
Fund remodels, repairs or an accessory dwelling unit using equity you've already built.
- 03
Major goals
Education, a major purchase or other large plans. Rates and terms vary by applicant and property.
Cash-Out Refinance vs. NEXA HELOC
Cash-Out Refinance
- Replaces your existing first mortgage with a new, larger loan.
- Your entire new balance is typically priced at the new rate.
- One mortgage payment, with refinance closing costs.
NEXA HELOC
- A separate line of credit secured by your home, in second position.
- Can preserve your existing first mortgage and its rate.
- Has its own rate, fees, payment and risk.
Which is better depends on the total terms, costs and how long you plan to keep the loan. Paul can help you compare both.
Three Steps, Online.
- 1
Check your options
Start online. Prequalification uses a soft credit inquiry, which does not affect your credit score.
- 2
Complete secure application
Finish NEXA's secure online application and provide requested verification. Formal underwriting may involve a hard credit inquiry.
- 3
Underwriting, closing and funding
After verification and remote notarization, your line can close and fund according to the loan terms.
Approval may be available in minutes and funding in as few as five business days for eligible applicants.
Timing is not guaranteed and depends on verification of income and employment, property condition, remote (e-)notarization, recording requirements and any applicable waiting periods.
HELOC Questions, Answered.
Will this change my current mortgage?
No. A HELOC is a separate line of credit secured by your home, in second position. Your existing first mortgage, its rate and its payment can stay as they are, as long as you qualify for the HELOC. You'll have a separate HELOC payment.
How does the initial draw and redraw work?
This HELOC works differently from many lines of credit: the full initial credit amount, minus the origination fee, is drawn at closing. As you repay, you may be able to redraw up to 100% of what you've repaid during the draw period. The initial draw has a fixed rate, but each additional draw gets its own rate set at the time of the draw, which may be higher.
Does checking my options affect my credit?
Checking your rate through prequalification uses a soft credit inquiry, which does not affect your credit score. If you move forward, formal underwriting may involve a hard credit inquiry.
Which states are available?
NEXA HELOC is available in eligible states. Currently NEXA's HELOC application does not accept properties in New York; terms depend on state, property and applicant.
How fast could I get funded?
For eligible applicants, approval may be available in minutes and funding in as few as five business days. Timing depends on income and employment verification, property condition, remote notarization, recording requirements and any required waiting periods. No timeline is guaranteed.
Your equity could have a job to do.
Check your options online with NEXA's secure application, or talk with Paul first.
HELOC is secured by your home. Failure to repay may result in loss of property. All applications subject to lender approval, terms, fees, eligibility and state availability.