Closed-End Second Mortgages (CES) provide the option to tap into the equity of a home to access cash without it affecting the rate of the original loan. Plus, it gives your clients the ability to borrow a lump sum all at once for whatever they need.

Why Closed-End Seconds Make Sense:

• Get Cash out without refinancing your existing loan
• Seconds do not require Mortgage Insurance
• Rates on Seconds are often better than on lines of credit
• Lower the down payment on a home purchase when paired with a first lien*
• Pay for a large purchase such as; home improvements, home renovations, college expenses, or medical bills.
• Fixed Term rates available
• Purchase, Rate/Term Refinance, and Cash-Out Refinance available
  * Eligible only in conjunction with LoanStream first liens

Program Highlights:

• Credit Scores Down to 660
• Loan Amounts to $500,000
• Max CLTV 85%
• Terms: 10, 20, and 30 year fixed terms