Available Home Equity Loans / Second Mortgage Loans

We offer the following 2nd mortgages on California residential SFR properties:

Traditional 2nd Loans / Lines of Credit — Purchase and Refinance COMBO loans

Our bank-issued 2nd loans are affiliated with our Super Jumbo Loans.

• Our 2nd mortgages are paired with our Purchase Money 1st, or Refinance 1st loans only — we do not offer “stand alone” 2nd mortgages unless hard money (see below)
• Combined loan amounts to 85% Loan-to-Value
• Maximum $500,000 second mortgage
• Minimum 700 qualifying credit score — some loans scenarios require 720 or 740 scores — call.
• Full income documentation required
• Not available for investment property purchase or refinance

Hard Money 2nd Loans / Lines of Credit

• 2nd mortgage loans and lines of credit from 55% to 65% combined lien amount of the value of your home (LTV is case-by-case)
• Interest rates range from 9.95% to 11.99%
• Points and fees typical for hard money loans
• Maximum $1,000,000 ($1 million) second mortgages (minimum $20,000 loan amount)
• No minimum qualifying credit score
• Reasonable proof of repayment ability required.
• Equity line 1st lien mortgages OK
• Primary, second / vacation / investment, and 2 – 4 unit residential property ok

Home Equity Lines of Credit feature:

• Interest-only payments (based on Prime Rate¹ + a fixed margin)
• Borrow up to 85% combined loan-to-value in conjunction with our 1st mortgage (i.e., 15% down payment / equity) ²
• No minimum ownership period required to apply, first-time home buyers OK
• Available for primary residence and second homes ²
• Lines of Credit from $20,000 up to $500,000
• 30-year repayment terms

Hard Money Home Equity Loans / Lines feature:

• Easier qualifying than traditional bank loans, provided there is more than 50% equity in the property going-in.
• Higher interest rates, points and fees than traditional loans in exchange for less rigid requirements (read this first if you’ve never had a hard money loan)
• Can be used on both primary and investment property
• Loans secured by primary, owner-occupied 1 – 4 unit SFRs are subject to certain Federal and State lending restrictions for covered loans — call for info.

Need a home equity line of credit? Call me today to confidentially discuss your unique situation, or fill out my Online Loan Inquiry form now. Either way, I’ll provide you with the information you need to start putting your home equity to good use!

1. Prime Rate is a variable rate and subject to periodic adjustment
2. Maximum loan amounts may vary depending on property use and/or credit and lender underwriting guidelines