Second Liens
Closed-End Second Mortgages
Unlock the equity in your home with a Closed-End Second Mortgage from CMRE, and gain access to funds for renovations, debt consolidation, or other important investments. With competitive rates starting at 8.5%, this loan provides a predictable payment schedule and a fixed interest rate, offering financial stability and peace of mind. Take advantage of your home's value and achieve your financial goals with CMRE's flexible second mortgage options.
Program Benefits
Competitive interest rates starting at 8.5% for qualified borrowers.
Fixed interest rates ensure predictable monthly payments.
Utilize your home's equity without refinancing your existing mortgage.
Ideal for home improvements, debt consolidation, or major expenses.
Retain your current low interest rate on your first mortgage.
Streamlined application process for quick access to funds.
Program Highlights
Max LTV
90%
Min Credit Score
680
Max DTI
50%
Loan Amount Range
$50,000 - $500,000
Amortization Options
Eligible Properties
- Single Family
- Townhome
- Condo
Program Requirements
Income Documentation
- •Consistent employment history or stable income source.
- •Sufficient income to comfortably manage existing debts and the new second mortgage payment.
- •Documentation of income through pay stubs, tax returns, or bank statements.
Asset Verification
- •Verification of assets to demonstrate financial stability.
- •Sufficient equity in your home to qualify for the desired loan amount.
- •May require documentation of savings accounts, investment accounts, or other valuable assets.
Insurance & Title
- •Homeowner's insurance policy to protect the property.
- •Flood insurance may be required depending on the property's location.
- •Proof of continuous insurance coverage.
Property Requirements
- •Minimum FICO score of 680 required for approval.
- •Review of credit history to assess creditworthiness.
- •Demonstrated responsible credit management with on-time payments.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
A closed-end second mortgage provides a lump sum of cash with a fixed interest rate and repayment schedule. A HELOC is a line of credit that allows you to borrow funds as needed, with a variable interest rate.
Advantages include a fixed interest rate, predictable monthly payments, and the ability to access funds without refinancing your first mortgage.
The amount you can borrow depends on your credit score, income, and the equity in your home, up to a maximum Loan-to-Value (LTV) ratio of 90%.
Dan K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Dan specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
