Unlock the Power of Your Home’s Equity with Mid-Island Mortgage’s New HELOAN Program

By Mid-Island Mortgage Corp.|Published On: October 3, 2025|

At Mid-Island Mortgage Corp., we know your home is more than just where you live – it’s also one of your most valuable assets. That’s why we’re excited to introduce our new HELOAN (Home Equity Loan) program, designed to help you tap into your equity with ease, flexibility, and confidence.

This closed-end, fixed-rate, standalone second mortgage gives homeowners like you the ability to access significant funds without disturbing your first mortgage. Whether you’re planning a major renovation, consolidating debt, or making a big investment in your family’s future, our HELOAN program provides a secure and affordable financing option tailored to your personal needs.

What is a HELOAN? A HELOAN is a closed-end, fixed-rate loan secured by your home’s equity. Unlike a HELOC (Home Equity Line of Credit) that works like a credit card, a HELOAN provides you with a lump sum upfront. You then repay it in consistent monthly installments, giving you the predictability of a fixed interest rate and a set repayment schedule.

At Mid-Island, our HELOAN program offers:

Loan amounts from $50,000 to $400,000
Fixed terms of 15, 20, or 30 years
Eligible properties: Single Family Primary Residences and Second Homes

Why choose Mid-Island’s HELOAN? Access Flexible funds without refinancing. Competitive fixed rates. Potential tax advantages. Personalized support every step of the way – something we pride ourselves on greatly.

One of the biggest advantages of our HELOAN is that it allows you to access your home’s equity WITHOUT refinancing your existing first mortgage. This is huge – and means that if you’re already locked into a great rate on your first mortgage, you won’t need to give it up just to unlock your home’s value. Our HELOAN program features highly competitive fixed interest rates, giving you peace of mind that your monthly payments won’t change over time. With predictable payments, you can plan your budget with confidence and make the most of your home’s equity. Depending on how you use the funds, the interest you pay on your HELOAN may be tax-deductible. While every borrower’s situation is different, we encourage you to consult with your tax advisor to learn how this program may be of benefit to you.

At Mid-Island, we take pride in providing more than just loan options – we deliver personalized guidance. From application through closing, our in-house team streamlines the process and ensures you feel supported at every stage. You’ll never have to navigate your homeownership journey alone.

Is a HELOAN right for you? A HELOAN can be a smart solution if you want:

Funds for a renovation (like upgrading your kitchen, finishing a basement, or adding an extension)
To consolidate high-interest debt into one manageable monthly payment at a lower rate
To cover large expenses such as tuition, medical bills, unexpected bills, or even purchasing another property
The stability of a fixed-rate, fixed-term loan, without disturbing your first mortgage

Take the next step. Your home has the potential to do more for you, and our HELOAN program can help make it happen. Whether you’re ready to start that big project, pay down debt, or invest in your future, Mid-Island Mortgage Corp. is here to guide you. Since 1959, we have been helping families achieve and expand their homeownership dreams – with our new HELOAN program, we continue our commitment to offering innovative, customer-first financial solutions. We understand that your financial goals are as unique as your home. That’s why we’ve built our HELOAN to deliver flexibility, value, and peace of mind – all backed by the dedicated support of our experienced lending team.

At Mid-Island, we’re committed to providing you with the best financial options to help you achieve your dreams and our HELOAN may be your answer. Contact us today to learn more about how our HELOAN program can unlock the possibilities waiting in your home’s equity.