If you’re a California homeowner age 55 or older, you might be in a familiar situation: you’ve built up a lot of equity in your home, you’ve got a great low-rate first mortgage, and you’re wondering how to access some of that equity without losing your rate — or taking on a big monthly payment.
Most people think a traditional home equity line of credit (HELOC) is the only way to go. But a HELOC comes with required monthly payments that can put pressure on your budget, especially if you’re retired or planning to retire soon.
At Signet Mortgage, we offer the HomeSafe Second Loan — a fixed-rate reverse mortgage second lien that keeps your existing first mortgage right where it is. The HomeSafe Second Loan allows you to access a portion of your home’s equity without required monthly mortgage payments on the second loan.
How It Works:
- Your current first mortgage stays exactly the same.
- A fixed-rate second loan is placed behind it.
- No monthly payment is required on the second loan — repayment happens when you sell, move out, or the last borrower leaves the home.
- Available to California homeowners age 55 and older (age requirements vary in other states).
Why Homeowners Choose It:
- Home Improvements – Make upgrades that improve comfort, accessibility, or value.
- Debt Consolidation – Pay off higher-interest debt like credit cards or personal loans.
- Supplement Retirement Income – Add more breathing room to your budget.
- Help Family – Assist children or grandchildren with education, home purchases, or other major expenses.
This solution is designed for homeowners who value the security of their current low-rate first mortgage but want to make their home’s equity work for them. It’s about flexibility and control, without adding another monthly bill.
Take the Next Step
If you’d like to explore whether the HomeSafe Second Loan could be a fit for you, let’s talk. I can walk you through the details, answer your questions, and help you decide if it’s the right choice for your goals.
Clay Selland | Signet Mortgage
NMLS #168365 / 183492 | Equal Housing Lender