Second Mortgage – MortgageDepot

In our ongoing mission to supply cutting-edge monetary options, we’re excited to introduce a brand-new providing—our Stand Alone 2nd Lien Program. This specialised mortgage product is designed to empower owners to faucet into their dwelling’s fairness, offering you with a compelling device to diversify your mortgage portfolio and meet the various wants of your shoppers.

Stand Alone 2nd Lien Program Highlights:

  • As much as 90% CLTV: Our shoppers can leverage as much as 90% of their dwelling’s fairness.
  • Minimal FICO 680: With average credit score necessities, this program opens doorways for a broader viewers.
  • Max DTI 50%: Offers ample monetary flexibility for debtors.
  • Versatile Mortgage Quantities: Starting from $150,000 to $500,000 to accommodate numerous monetary objectives.
  • Mortgage Phrases: Choices embody 10, 15, and 30-year fixed-rate phrases.
  • Documentation Flexibility: Full Doc, Alt Doc—like Private and Enterprise Financial institution Statements, and 1099—are all acceptable.
  • Property Varieties: Obtainable for Main, Second Dwelling, and Funding Properties.

Why Supply the Stand Alone 2nd Lien Program?
This closed-end second mortgage permits debtors to capitalize on their dwelling fairness with out affecting their major low-interest mortgage. Whether or not you wish to fund a serious renovation, put money into one other property, or consolidate debt, this product provides one other layer of monetary options we provide.

In the case of Non-QM lending, expertise issues–we will determine tips on how to get troublesome offers accomplished!

Let’s focus on how we will collaborate and assist you to ship the most effective options our program gives..

Join with considered one of our mortgage consultants to study extra.