Get cash to complete your goals with a home equity loan without having to refinance your low interest rate on your current home loan.
A second mortgage loan allows homeowners to tap into their home equity as collateral for a second loan. Many homeowners are pleased that their home values are growing and they have more home equity. On the other hand, that equity isn't doing them any good because they can't spend it. In addition, their current mortgage rate is excellent compared to what's available now. A second mortgage is an alternative to a refinance when they want to keep their current mortgage rate and provides funds that can use however they like.
Owner-Occupied, Non-Owner-Occupied, and 2nd Homes Eligible.
Loan Amounts up to $350,000.
Max. Combined Liens of $2M.
Max Debt-to-Income (DTI) up to 50%.
No Reserves Required.
Full Doc* or Bank Statements (12 & 24 Months) Eligible.
Min. 660 FICO.
*Must meet Ability to Repay.
No usage restrictions. You can use the money you get for any purpose.
Large loan amounts compared to other lending sources.
Lower interest than other types of lending since the equity in your home is securing the debt.
Security of knowing what your monthly payments will be with a fixed-rate second mortgage.
No Assets Required.
Purchase a 2nd Home or
Pay Off Debt
Reach out to one of our Mortgage Bankers to assist you in accessing the equity in your home.