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Stated Second Mortgage

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Stated Second Mortgage

Maintains the integrity of the existing first mortgage while offering an additional borrowing option. FICO scores as low as 660, up to 85% LTV/CLTV, and loan amounts reaching $550K.

Our Expanded-Prime stand-alone second lien product allows self-employed borrowers to submit 12 months of bank statements instead of tax returns. Using this alternative income calculation, the borrower’s debt-to-income allowed is 50%. The borrower can consolidate debt or get cash out and kept the first mortgage intact with their low interest rate. The consolidation resulted in a better cash flow position for the borrower.

  • Primary residence CLTV up to 85%
  • Debt-to-income ratio up to 50%
  • 12-month bank statement features for self-employed borrowers
  • Second home and investment properties up to 75% CLTV

Credit Score 640 Upto 85% CLTV

The Stand-Alone Second Mortgage product is designed for self-employed borrowers and real estate investors who can qualify using 12-24 months of personal or business bank statements. These loans enable borrowers to tap into their home’s equity while retaining their first mortgage. With this product, borrowers receive a lump-sum payment and there are no restrictions on how borrowers can use the funds.

  • Loans up to $550,000 with a minimum of $75,000
  • Rates are 30-year fixed, 20-year fixed, 15-year, or 10-year fixed
  • Cash-out or rate-term refinance
  • Owner-occupied, second homes, and non-owner occupied
  • SFR, Townhomes, 2-Unit, and Warrantable Condominiums
  • Bank Statements (Business or Personal and 12 or 24 months of statements)
  • Minimum score 660
  • Full Doc (1 or 2 yrs. Tax Returns or W-2’s w/ YTD Pay Stubs or Profit and Loss)
  • Minimum score 640
  • Up to 50% DTI

Our Commitment

“Driven by a passion to see our clients succeed, we at Envision Lending go beyond the transaction. We’re committed to providing personalized, hands-on support to navigate the complexities of property lending. Because when you succeed, we succeed.”