Available now at BluePoint Mortgage
Offer your borrowers the benefit of a cash-out loan without changing the rate of their first mortgage
Closed-End 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.
- $250K max loan amount
- Min. FICO 680
- Max CLTV 85%
- 5-20 years, 30 years due in 15 years
- Qualify with W-2 or WVOE
- Self-employed borrowers OK
- Borrower receives funds at closing