Expand Your Borrowers’ Options with
Non-QM Second Mortgages!
Purchase, Rate/Term Refinances, and Cash-Out Refinance Available
Reach more clients with Non-QM Seconds Mortgages!
Non-QM Second Mortgages provide the option to tap into the equity of a home to access cash without it affecting the rate on the original loan. Plus, it gives your clients the ability to borrow a lump sum all at once for whatever they need.
Program Highlights
- Credit Scores Down to 660
- Loan Amounts up to $750,000
- 3 & 12 Month Bank Statement Income
- P&L
- DSCR
- 1099
- WVOE
- Asset Depletion
- 1 YR Self Employed
- Owner Occupied, Non-Owner Occupied, 2nd homes
- 85% CLTV
- Terms: 10, 20, 30 Year Fixed Terms
- Non-Warrantable Condos Eligible
Why Non-QM Seconds Make Sense:
• Get Cash out without refinancing your existing loan
• Seconds do not require Mortgage Insurance
• Rates on Seconds are often better than on lines of credit
• Lower the down payment on a home purchase when paired with a first lien*
• Pay for a large purchase such as; home improvements, home renovations, college expenses or medical bills.
• Fixed Term rates available
• Purchase, Rate/Term Refinance and Cash-Out Refinance available
*Eligible only in conjunction with JET Advantage first liens.
Loans originated in US Territories and the following states are ineligible: MI, NJ, NY, TN, TX, VT, WV. Restrictions apply, contact your Account Executive for details. Important to note that a Non-QM Second Mortgage may typically have a higher interest rate than the first lien mortgage.