As millions of homeowners remain locked into low mortgage rates, lenders are introducing new home equity products designed to help borrowers access accumulated equity without refinancing their first mortgages.

This week, Gershman Mortgage and Truss Financial Group announced separate home equity offerings aimed at different borrower segments but built around the same premise: allowing homeowners to tap equity while preserving existing first-lien mortgage rates.

The product launches come as many borrowers carry mortgages originated at rates of 3% or 4%, leaving refinancing to be less attractive despite record equity gains and therefore prompting lenders to expand home equity lending details ⇒

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