Is your client looking to access the equity in their home without impacting their primary mortgage interest rate?

Hometown Equity Mortgage has you covered.
Introducing

theSECOND

A stand alone equity second that allows homeowners to access the equity in their homes without losing their low interest rate firsts.

theSECOND

  • Loan Amounts up to $550k
  • FICOs starting at 660
  • O/O Full Doc max 80% CLTV
  • O/O Bank Statements max 80% CLTV
  • N/O/O Full Doc max up to 80% CLTV
  • N/O/O Bank Statement max up to 75% CLTV
  • Max DTI up to 50%
  • No Assets required
  • Now doing 2-4 units
  • O/O: Use original appraisal within 12 months and Appraisal Review or New appraisal with AVM is required
  • N/O: Use original appraisal within 12 months and Appraisal Review or New 2055 appraisal and appraisal review
  • Combined Liens up to $2.5MM
  • Now Allowing 1st lien to have I/O features (Max DTI 45%)

theSECOND+

  • Approved in more states
  • Maximum loan amount up to $500K
  • Minimum loan amount to $75K
  • No cap on combined loan amounts
  • Cash Out up to $500K
  • Minimum FICO lowered to 680
  • 2nd homes allowed to 80%
  • Investment transactions allowed to 75%
  • Maximum DTI increased to 50% for LTVs ≤ 80%
  • AVMs now allowed for loan amounts ≤ $250K

Resources

theSECOND & theSECOND+ matrix