Non-QM Closed End Seconds

Purchase, Rate/Term Refinance & Cash Out Available

Maximize Cash Out with Non-QM Closed End Seconds

Maximize your clients’ equity borrowing power! A primary concern for borrowers is fear of losing their existing interest rate on their Non-QM loan in order to access their equity. A Closed End Second is a viable solution as it doesn’t interfere with their original mortgage terms. Plus, it gives clients the ability to borrow a lump sum all at once.
  • 85% Max CLTV Full Doc & Bank Statement
  • Owner Occupied, 2nd Home and Investment Properties
  • One Year Self-Employed available
  • Purchase, Rate/Term Refinance, and Cash-Out Refinance Available
  • Fixed Term Rates Available
    • Terms: 10, 20, & 30 year
  • Credit Scores down to 660
  • Loan Amounts to $750,000
  • Eligible as 2nd lien only
  • Fully disbursed at closing, no draw feature
  • Qualifying payment is fully amortized payment
  • Minimum loan amount $100,000
  • 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. 

Access Non-QM Closed End Seconds & Expand Your Market