Fixed Rate Second Mortgage Loan Programs for Investment Properties

Non-QM (Non-Qualified Mortgage) fixed rate second mortgage loan programs are alternative lending options designed for borrowers who may not meet the strict criteria of traditional mortgage loans. Check our Live Mortgage Rates for 2nd mortgage on investment properties now!

Investor Fixed Rate 2nd Mortgage Loan Highlights

• Non-QM Fixed Rate 2nd Mortgage Loans: Non-QM Fixed Rate 2nd Mortgage for Investment Properties can be done with multiple income types! Borrowers can qualify for a 2nd mortgage using the following income documentation:
  • Full Documentation
  • 12 Month Personal Bank Statements
  • 12 Month Business Bank Statements
  • 1099
  • P&L
  • DSCR
• Cash Out 2nd Mortgage: For borrowers seeking cash out from their home that do not want to touch their low rate first mortgage, the fixed rate 2nd mortgage is the best option! Allowing low fixed 30 year rates for cash out as opposed to a HELOC loan, where the rate is higher and variable!
• Blended Rates: Combining a fixed rate 2nd Mortgage loan on an investment property with a 1st lien allows borrowers to maintain the low rate first lien, with a fixed rate 30 year 2nd lien to match. Therefore, the blended rate can be calculated and compared to a traditional cash out refinance! Many times the blended rate is better by utilizing the fixed rate 2nd mortgage for the cash out that is needed and leaving the 1st mortgage in place.
• Purpose of Second Mortgage Loans: A second mortgage loan is a loan taken out against the equity in a property that already has an existing mortgage. Borrowers may choose a second mortgage to access additional funds for various purposes such as home improvements, debt consolidation, or other financial needs.
• Property Types Allowed for Fixed Rate 2nd Mortgage: Non-QM fixed rate second mortgage loan programs typically allow various property types, including primary residences, second homes, and investment properties. Eligible property types include:
  • 1-4 Units Residential SFH
  • PUD
  • Condominiums
• Maximum Loan-to-Value (LTV): LTV refers to the loan amount as a percentage of the property's appraised value. Non-QM second mortgage loan programs often have maximum LTV ratios ranging from 75% to 90%. This means that borrowers can potentially access up to the specified percentage of their property's appraised value through a second mortgage loan. However, the exact LTV allowed can vary depending on the lender and the borrower's financial profile.
• Qualification Criteria: Non-QM loans typically consider a borrower's overall financial picture, including credit history, income, and assets. While the specific qualification requirements can differ among lenders, these loans may be more accommodating to borrowers with lower credit scores, self-employed individuals, or those with unique financial circumstances.
• Fixed Interest Rates: Non-QM fixed rate second mortgage loans come with a fixed interest rate, meaning that the rate remains constant throughout the loan term. This provides borrowers with predictability and stability in their monthly mortgage payments.

Investors Start Your Fixed Rate 2nd Mortgage for Investment Property Now!