More and more people are looking into obtaining a second mortgage as they don’t want to refinance their first mortgage with a cash-out refinance because they’ve secured a low-interest rate mortgage on their first mortgage. It would be a sin to touch that first mortgage if looking to tap into the equity of your property, that’s why fixed second mortgages and home equity lines of credit are popular in the market as of now.
- 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 Non Owner Occupied Eligible
- Recent Credit Events Allowed
- No Prepayment Penalty
To learn more or to see if you qualify for a second mortgage contact our office and we’ll connect to a loan specialist.
