Closed End & Concurrent Second Mortgages
Purchase, Rate/Term Refinance, and Cash-Out Refinance Available
Eligibility Matrix

Reach more clients with Closed-End Second Mortgages!

Closed-End Second Mortgages (CES) provide the option to tap into the equity of a home to access cash without it affecting the rate of the original loan. Plus, it gives your clients the ability to borrow a lump sum all at once for whatever they need. 

Why Closed-End Seconds Make Sense:

• Get Cash out without refinancing your existing loan
• Seconds do not require Mortgage Insurance
• Rates on Seconds are often better than on lines of credit
• Lower the down payment on a home purchase when paired with a first lien*
• Pay for a large purchase such as; home improvements, home renovations, college expenses,
or medical bills.
• Fixed Term rates available
• Purchase, Rate/Term Refinance, and Cash-Out Refinance available
* Eligible only in conjunction with LoanStream first liens

*Eligible only in conjunction with LoanStream first liens.

Program Highlights:

  • Credit Scores Down to 660
  • Loan Amounts to $750,000
  • Max CLTV 85%  
  • AVMs available for loans ≤ $250,000**
  • Properties with a solar lien are eligible (check matrix) 
  • Non-Warrantable Condos Eligible

**HPML High Priced Mortgage loans not eligible. See our Closed End Seconds Matrix for details.

Loans originated in US Territories and the following states are ineligible: MI, NJ, NY, TN, TX, VT, WV. Restrictions apply, contact your Account Executive for details. Important to note that a Closed-End Second Mortgage may typically have a higher interest rate than the first lien mortgage.