Available as Non-QM and Prime
Offer your clients a second mortgage using banks statements and other documentation!
If your borrower doesn’t qualify for a traditional 2nd mortgage, let’s go with a Non-QM Closed-End Second.
- 660 Min. FICO
- 50% Max DTI
- Max CLTV up to 90% w/ 700+ FICO
- Max Loan Amount up to $450K
- Max Combined Liens up to $2MM
- Full Doc: 12 Months W-2 or Tax Returns
- Bank Statements: 12 Months Business or Personal/Business
- Available Terms: 10yr, 15yr, 20yr, 30yr
See product matrix for details, contact your AE for pricing.
PRIME 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%
- five, ten, fifteen, and twenty year terms
- Qualify with W-2 or WVOE
- Self-employed borrowers OK
- Borrower receives funds at closing