Offer your borrowers the benefit of a cash-out loan without changing the rate of their first mortgage

Second Mortgage

What is a Closed-End Second (CES) Mortgage?
A closed-end second mortgage loan (CES) is a second mortgage that allows homeowners to tap into the equity of their home and use the money to pay for major repairs, debt consolidation, or other critical costs. 

  • FICOs as low as 680
  • Max DTI 50%
  • Min. Loan Amount: $150,000
  • Max Loan Amount: $750K
  • LTVs as high as 90% (Min. FICO 720)
  • Fixed Rate – Fully amortizing terms of 10, 15, 20, 25 & 30 years

Closed-End 2nd BlueXpanded:

Bank Statements
12-months of business bank statements
Or, 12-months of Personal + 2-months of business

1-Year 1099
Fixed Expense Ratio of 10%
YTD documentation to support continued receipt of income

Self-Employed: 1-year personal and business (if applicable) Tax returns, YTD P&L, IRS Form 4506-C
Wage/Salary: 1-year Paystubs, W-2, IRS Forms 4506-C, Verbal VOE


Closed-End Second Mortgage

"*" indicates required fields

This field is for validation purposes and should be left unchanged.