Closed-End Second Mortgages provide mortgage brokers with a strategic financing option for borrowers looking to access home equity without refinancing their primary mortgage.

These loans allow homeowners to tap into their equity as a lump sum with a fixed rate and term, making them ideal for debt consolidation, home improvements, or major expenses.

Unlike cash-out refinancing, Closed-End Second Mortgages enable borrowers to keep their low first mortgage rate while still leveraging their home’s value.

For brokers, this product expands opportunities to serve clients who need additional funds but want to avoid resetting their primary loan terms.

Unlike open-end home equity lines of credit, these loans do not allow for additional borrowing once the initial amount is disbursed.

With competitive rates and flexible qualification requirements, Closed-End Second Mortgages help brokers close more deals while providing borrowers with a cost-effective and predictable financing solution.

Program Features

• Min FICO 680
• Min loan amount $75K-Max loan amount $500K
• Max HCLTV 90%
• Max DTI 50%
• Full doc or Alt doc available
• Primary, Second and Investment Properties
• Bank Statement Doc Type Available