A typical HELOC (home equity line of credit) is a second mortgage with a revolving line of credit borrowed against the equity of your home. HELOCs differ from traditional home loans because you draw money from a HELOCs as needed for maximum flexibility.

CCM Equity Express is different. Your application and funding are fast and automated. You can choose between Fixed for a fixed-rate loan or Flex for a variable rate loan. Depending on the loan you choose, you can take 75%-100% of your funds at closing, and draw funds for 2-5 years.

CCM Equity Express is a fully automated loan. Your income, assets, and home value are all verified electronically. You apply securely online and receive a decision within minutes.

Be prepared with the following information:

• Valid state-issued ID
• User ID and password for bank accounts
• Proof of homeowners insurance
• Payroll provider username and password (if you have online access)
• Registration with IRS.gov or ID.me for ID and tax purposes

1. Home values have increased steadily in recent years. Even if you purchased your home a year ago, you may have a substantial increase in value. This, combined with the principal payments you have made on your mortgage, creates home equity: The difference between what your home is worth and what you owe on your mortgage. You can use CCM Equity Express to borrow against that equity, as long as your first mortgage and HELOC combined don’t exceed 85% of your home’s value.
2. With a traditional refinance, you could access your equity, but you’d have a new, larger loan, probably a higher rate than your current loan, and full closing costs. A HELOC leaves your current loan in place, but most have variable rates. CCM Equity Express is a loan with low closing costs.