Second Mortgage
A closed-end second mortgage provides homeowners with the chance to tap into the equity of their real estate while preserving their advantageous interest rate. Through this loan option, homeowners have the potential to access a lump sum payment, determined by factors such as their credit score, income, and more, which can reach as high as 90% of their home’s equity. Our bank statement program allows self-employed borrowers to tap into that equity without having to show income docs.
Program Overview:
- Credit Score Down to 660
- Loan Amounts up to $550k
- Max Combined Lien $2.5mm
- DTI up to 50%
- Full Doc Max CLTV 90%
- Bank Statement Max CLTV 85%
- Reserves or Assets Not Required
- Owner Occupied, Second Home, and Investment Property Eligible
- Recent Credit Events Allowed
- No Prepayment Penalty
Our Closed-End Second mortgages empower borrowers to decrease the cash required for a down payment, enabling cash access without necessitating alterations to their primary mortgage rate. Additionally, this mortgage program provides advantages for purposes such as debt consolidation, home improvements, and unforeseen life events.
Contact us for more information and how you can qualify for a bank statement second mortgage.
