Second Lien HELOC
Unlock Equity Without Disrupting Your Low-Rate Mortgage
Tap into your home’s equity without effecting your low-rate mortgage with our Second Lien HELOC. Whether you’re looking to finance home improvements, consolidate debt, or cover unexpected expenses, our loan provides a cost-effective solution that gives you the financial flexibility you need. Keep your low-rate mortgage intact and access the equity in your home.
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Quorum’s Second Lien HELOC Offers Financial Security
Our Second Lien HELOC is designed to give homeowners financial security. Tap into your home’s equity, without sacrificing your low-rate first mortgage. Whether you are looking for a debt consolidation solution, cover unexpected expenses, refinance your existing mortgage, or cashout to cover other expenses, our Second Lien HELOC will help you achieve financial stability.
Why Choose a Second Lien HELOC?
Learn how Quorum can guarantee that your financial commitments come with no unexpected surprises. Here are the key benefits of our Second Lien HELOC:
Apply for a Second Lien HELOC Today.
Our online loan application is seamless and easy. And, whenever you need assistance, our team is ready to help you explore your options.
How to Apply for a Second Lien HELOC
What’s a Good Interest Rate on a HELOC?
Compare Quorum’s Second Lien HELOC rates with the average interest rate! According to Bankrate, the average HELOC rate is 8.28% APR1, as of 1/22/25.

Open a Quorum Second Lien HELOC Today.
Ready to take the first step in financing your goals with a Second Lien HELOC from Quorum? Apply online to get started.
Other Helpful Resources:

LTV and CLTV: What Are They and What’s the Difference?

Home Equity Products vs. Reverse Mortgages: What You Should Know.

HELOC vs. Home Equity Loan: Which is Best for You?
Why Choose Quorum?
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Second Lien HELOC FAQs
Should I apply for a Home Equity Loan or a HELOC?
While both loans convert equity into cash, there are differences that make each loan suited to different borrowers. A Fixed-Rate Home Equity Loan is considered a second mortgage. It offers the loan as a one- time lump sum with a fixed interest rate, so the payment remains the same each month. A HELOC a revolving line a credit that offers a specific draw period. During that time, borrowers only pay interest on the amount borrowed. After the draw period, borrowers will begin making payments that include principal and interest.
Is there a limit to how much I can draw from my HELOC?
You may request a draw in any any amount up to the available balance on your HELOC.
Please be aware that it may take up to 4 business days to process HELOC advance requests, and the draw might not immediately reflect in your available balance. If you have made other recent HELOC advance requests, be sure to factor that amount into the new amount you wish to draw, to avoid a possible rejection.
How can I access funds or request an advance from my HELOC?
You can request an advance from your HELOC in two ways:
Online:
- Log in to online banking.
- Under More, click on “Other Services.”
- Click on “Loan and Credit Card Services.”
- Select “Request a HELOC Advance,” then follow the prompts to complete the request.
You will receive an email confirmation shortly after submitting the request. (Please note: advances made in online banking are subject to a hold of 3-4 business days. If you need your funds sooner, please follow the steps above, then contact us at (800) 874-5544, Monday through Friday, 8:30 a.m. – 7:00 p.m. ET, to request the hold be expedited.)
By Using the HELOC Checks Provided to You:
HELOC advance checks are ordered automatically during the loan closing process. Your checks are mailed to the address listed on your loan closing documentation and should be received within 10 business days of your loan boarding, which will be after the three day Right of Rescission period has ended. If you have not closed yet, please make sure that your loan processor has the correct mailing information so that your checks are mailed to the requested address.
Once you receive your checks, you can use them to withdraw money from your HELOC account, use Quorum mobile deposits to deposit funds into your Quorum account, or pay service providers by check.
Here are some limitations you should be aware of:
- The minimum advance is $500. The check will be returned if it is written for less than $500.
- You may write checks up to your available credit limit. Please be aware of your available credit limit, which you can find in online banking. Keep in mind that if closing costs were rolled into your loan transaction, your available credit limit will be reduced by that amount.
- You may write checks payable to yourself or to others. However, please be sure that the name matches that of the deposit account holder as differences in the name may cause the check to be returned.
- Be sure that the legal amount (written amount) and the numerical amount match. If they do not, the check may be returned by the processing financial institution, or only the legal (written) amount will be honored.
- Checks can be deposited through allowable channels as determined by the depositing institution. Please consult the institution at which you are depositing the funds regarding the availability and limitations of mobile deposit, ATM deposit, branch deposit, etc. Also be sure to confirm hold times on funds based on the policy of the institution. In general, larger checks tend to be held for extended time periods, especially if deposited to an international institution.
How long does it take to process a HELOC advance via check or online?
The processing times for HELOC advances are as follows:
Online Requests: Advances made in online banking are subject to a hold of 3-4 business days. If funds are needed sooner, once the advance request has been submitted via online banking, please contact us at (800) 874-5544, Monday through Friday, 8:30 a.m. to 7:00 p.m. ET, to request to have the hold release expedited.
Mobile Check Deposits: HELOC checks deposited via mobile deposits will take 3-5 days for funds to be available in your account.
Mailed Checks: Checks you mailed directly to your service providers will vary based on the delivery time and your service provider’s financial institution.
How do I check the status of my HELOC advance request?
To check the status of your HELOC advance:
Requests submitted via online banking: The amount of the requested advance will reflect immediately as a deposit in the transaction history of the selected account. However, please note that this amount will not be reflected in the available balance until the request has been processed, which may take up to 4 business days. Should you wish to confirm when the funds will be released, please contact our Member Services Team at (800) 874-5544, Monday – Friday, 8:30 a.m. – 7:00 p.m. ET.
HELOC Advance Checks: Please contact our Home Equity Loan Servicing Center at (877) 909-2544, Monday – Friday, 8:30 a.m. until midnight, ET, and Saturday, 8:30 a.m. – 5 p.m. ET.
How do I make extra payments towards the principal on my Home Equity or HELOC?
To make a principal payment toward your Home Equity Loan or HELOC:
- Log in to online banking.
- Under Accounts on the Dashboard, click on “Second Mortgage.”
- Select “Manage My Account” from the menu bar.
- Click on the “Payment” tile at the top of the page. You will only be able to select the principal payment option if your current monthly payment has been made.
Please note that principal payments cannot be processed until your current monthly payment has been made. Once your billed amount has been satisfied and posted (within 2 business days), you may make a principal payment. You will see the principal payment reflected in your account within 2-3 business days after your regular monthly mortgage payment has been made.
Disclosure
1Second Lien Investment HELOC Disclosure: The Annual Percentage Rate (APR) is as low as 10.50% as of 01/01/2025 and subject to change. The Floor Rate is 6.95%. Maximum APR is 18.00%. The APR is a variable rate, plus or minus a margin, and is based on the Prime rate (index – as published in The Wall Street Journal). The margin is determined based on credit history, loan amount and combined loan-to-value (CLTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1 family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $50,000. No draw required at closing. No application or termination fees; appraisal fee varies. Click here for the Fee Schedule. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line-of-Credit is not available in TX. All loans are subject to credit approval. Rate discount: 50bps for 1st lien position investment property. Investment HELOC: For discounted rates: a. (0.25%), a new Checking Account with Quorum must be established prior to closing with a minimum monthly balance of $5,000. b. (0.50%) a new Term Savings Account with Quorum must be established prior to closing. Must maintain at least $50,000 in a Term Savings Account any duration. Requirements must be satisfied at account opening and maintained through the life of the loan to be eligible for the rate discounts. Minimum loan amount $50,000.