Second mortgages can be a great option for homeowners looking to access additional funds while leveraging the equity in their property.
Are you a homeowner looking for a flexible and convenient way to access additional funds? Look no further! Our second mortgage program offers an excellent solution, allowing you to tap into the equity of your property while enjoying competitive interest rates and favorable terms.
What is a Second Mortgage?
A second mortgage, also known as a home equity loan (HELOAN), is a loan taken out against the equity you have built in your property. Unlike a primary mortgage, which is used to purchase a home, a second mortgage allows you to borrow against the value of your property while maintaining your existing mortgage. This means you can access funds without refinancing your entire mortgage.
Power of a 90% CLTV
One of the standout features of our second mortgage program is the ability to borrow up to 90% of your property’s Combined Loan-to-Value (CLTV) ratio. The CLTV ratio is calculated by adding the outstanding balance of your primary mortgage to the amount you wish to borrow through the second mortgage. This high CLTV ratio allows you to access a significant portion of your property’s equity, providing you with the financial flexibility you need.
Benefits of a Second Mortgage
- Access to Funds: Whether you’re planning a home renovation, consolidating debt, or funding a major life event, a second mortgage offers a reliable source of funds. With our program, you can borrow up to 90% of your property’s CLTV.
- Competitive Interest Rates: Our second mortgage program offers competitive interest rates, ensuring that you can access funds at an affordable cost.
Contact us today to learn more about our second mortgage program and how it can benefit you.
