WHAT IS A SECOND MORTGAGE LOAN?
A Second Mortgage provides homeowners with the ability to borrow against the equity in their property while retaining their original mortgage. It’s a practical solution for accessing extra funds without refinancing your primary home loan.
SECOND MORTGAGE
LOAN OVERVIEW:
A Second Mortgage allows homeowners to borrow against the equity in their home without altering the terms of their existing first mortgage. This means you can access needed funds without refinancing or giving up a low interest rate on your current loan.
Second mortgages are often used for debt consolidation, home renovations, business investments, or other major expenses. The funds are provided as a separate loan and are secured by a second lien on the property.
With flexible terms and a variety of structures, second mortgages offer a strategic way to unlock home equity while maintaining your current mortgage position — ideal for borrowers looking to maximize their financial options without resetting their entire loan.
PROGRAM BENEFITS
- Loan amounts available up to $500,000, offering substantial access to home equity
- Debt-to-income ratios up to 50% allowed for qualified borrowers
- Can be used for primary residences, second homes, or investment properties
- Keep your low first mortgage rate while accessing additional funds
- Ideal for home improvements, debt consolidation, business needs, or major expenses
- Often faster and more cost-effective than a full refinance
REQUIREMENTS
- Minimum FICO score of 680 required for eligibility
- Up to 85% Combined Loan-to-Value (CLTV), including both first and second mortgage balances
- Must have sufficient equity in the property to support the second lien
- Borrowers must meet standard debt-to-income and reserve requirements
- Property must be in acceptable condition and meet underwriting guidelines
LOAN OPTIONS:
Second Mortgages are a great solution for homeowners who want to access equity without refinancing their current first mortgage — especially if their first loan has a favorable interest rate.
These loans can be structured as either fixed-rate second mortgages or adjustable-rate HELOC-style products, giving borrowers flexibility based on their financial goals and repayment preferences.
They are commonly used for home improvements, large purchases, college tuition, or debt consolidation. Whether you're looking for a one-time lump sum or a line of credit, second mortgage options provide a strategic and efficient way to leverage your home's value.
How Do You Qualify for a Second Mortgage Loan?
Start by contacting our team at (213) 810-2091. We’ll help you review your goals and determine if a second mortgage is the right fit for your situation.
To qualify, you'll need a minimum FICO score of 680 and sufficient equity in your home — typically allowing for up to 85% CLTV when combining your first and second mortgages.
Lenders will also evaluate your debt-to-income ratio, credit history, and asset reserves to ensure you can comfortably take on an additional loan. Whether you’re consolidating debt or funding a home project, we’ll guide you through your best second mortgage options.
HOW LOW WILL YOUR PAYMENT BE?