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Routing # 307075259
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Second Mortgages

Take advantage of your equity

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Second Mortgages

Second mortgages are loans that provide use of the equity in your home while it adds a lien against your real estate property.

One version of a second mortgage comes with a lump sum payout with a fixed rate and fixed payments for a set term. Another type is referred to as a home equity line of credit or HELOC. This is a line of credit that you utilize as you need it and pay it back like a credit card payment. It has a variable interest rate and comes with repayment terms that are different than that of the traditional lump sum second mortgage loan. 

 Second Mortgage


Current Best Rate: 8.59% APR1 80% CLTV2 (as of 05/15/2024)

A second mortgage allows you to have the freedom to use the cash all at once or spread out over time. This makes the second mortgage product a good option as a part of your expected monthly budget.

  • Fixed Rate & Term
  • $0 Closing Costs, in most cases (an appraisal may be required at member’s expense)
  • Terms available up to 20 years
  • 80% and 90% CLTV options
  • No pre-payment penalties
  • Payments include principal and interest only

Get Started

To speak to a Credit Union of Denver Loan Specialist, give us a call 303.202.5659 | 800.280.0234 or email us at

Want to know what your house may be valued at? Use our Home Value Checker to show comps in your area and recent sales. This is not meant to replace an appraisal, but a tool to give you an idea of what the market is doing near the location of your property.

HELOC – Home Equity Line of CreditBeautiful newly re-modeled home, outdoor view.

Current Best Rate: 8.00% VAPR1 80% CLTV(as of 01/01/2024)

A HELOC is a form of revolving credit in which your home serves as collateral. You apply for a certain amount and draw on it as you need.

  • $0 Annual Fee
  • $0 Closing Costs, in most cases (an appraisal may be required at member’s expense)
  • 80%-90% CLTV2 (Combined Loan to Value)
  • Access funds via credit card or check
  • Ability to re-use funds as you pay down the balance
  • 1% Repayment Terms
  • 10 Year Draw Period and 10 Year Repayment Period (20 years total)

Get Started  Calculators

To speak to a Credit Union of Denver Loan Specialist, give us a call 303.202.5659 | 800.280.0234 or email us at

1 APR = Annual Percentage Rate. Rate is Current as of 05/15/2024

HMDA Disclosures. Credit Union of Denver NMLS#417000. Equal Housing Opportunity.

2CLTV – Combined Loan to Value

VAPR = Variable Annual Percentage Rate. APR = Annual Percentage Rate..

With approved credit. Not all borrowers will qualify for the best rate. HELOCs have a 20-year term; with a 10-year draw and 10-year repayment period. Variable annual percentage rate (VAPR) is based on credit worthiness at time of application. Best rate is 0.50% [“Margin”] below Wall Street Journal Prime Rate “Index”] subject to the floor rate of 6.00% and ceiling rate of 18.00%. For example, standard rates of 8.00% up to 14.50% VAPR are current as of 01/01/2024. Rates are subject to change. No closing costs in most cases, but an appraisal fee and/or title insurance (approximate cost $0 - $3,000) may be required at member expense. Promotions not available on refinance of current Credit Union of Denver (C·U·D) mortgage loans. Owner occupied, insured Colorado properties (property insurance required) only. C·U·D membership of $5 is required. Credit Union of Denver reserves the right to withdraw this offer at any time without notice. HELOC Disclosure.