Reach more clients with Closed-End Second Mortgages!

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

Loans originated in US Territories and the following states are ineligible: AK, CO, NY, OK, TX, VT, WV, WY.  First liens are available in AK, WY and WV. Restrictions apply, contact your Account Executive for details. Important to note that a Closed-End Second Mortgage may typically have a higher interest rate than the first lien mortgage. Pre-payment penalties may apply.

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