What is the Closed End Second？
Closed End Second: Second Loan Only is acceptable.
* Subject property should have a first mortgage.
Closed End Second Program Highlights
1) No Lender Fee;
2) 1-4 Units;
3) Primary Property, Investment Property;
4) Max. CLTV 90%;
5) Loan Amount $75,001-$550,000;
6) Min. FICO 660.
Max Loan Amount Up To $550,000 / Max Combined Lien Up To $2,500,000
Purchase (Max CLTV 90%) / Cash Out(Max CLTV 90%) /Rate & Term Ineligible
Primay Home (Max CLTV 90.00%)/ 2nd Home (Max CLTV 80%)/Investment(Max CLTV 80%)
Stand-Alone CES / Piggy Back
12 Months Bank Statement / 1 Yr Full Doc / 2 Yrs Full Doc
