Is your client looking to access the equity in their home without impacting their primary mortgage interest rate?
theLender has you covered.
Introducing

A stand alone or piggyback equity second that allows homeowners to access the equity in their homes without losing their low interest rate firsts.

theSECOND

  • Now accepting Alt Doc (WVOE and 1099) and P&L Only
  • Loan Amounts up to $600K
  • FICOs starting at 660
  • O/O Full Doc max 90% CLTV
  • O/O Bank Statements max 85% CLTV
  • N/O/O Full Doc max up to 80% CLTV
  • N/O/O Bank Statement max up to 75% CLTV
  • Max DTI up to 50%
  • O/O: Use original appraisal within 12 months and Appraisal Review or New appraisal with AVM is required
  • N/O: Use original appraisal within 12 months and Appraisal Review or New 2055 appraisal and appraisal review
  • Combined Liens up to $4.0MM
  • No Assets required
  • 1st lien to have I/O features (Max DTI 45%)
  • Minimum loan $75,000
theSECOND Matrix

theSECOND+

  • IMPROVED PRICING
  • Now allowing “Alt Doc”
  • Now allowing 1- & 2-year documentation options for all doc types, including:
    – Personal Bank Statements
    – Business Bank Statements
  • Approved in more states than the standard theSECOND
  • 700 FICO to $350k increased top 90% max LTV for full doc
  • 680 FICO to $350k increased to 85% for full doc
  • Upper FICO tier lowered to 720
  • Maximum loan amount up to $550K
  • Minimum loan amount to $75K
  • Cash Out up to $500K
  • Minimum 680 FICO
  • 2nd homes allowed to 80%
  • Investment transactions allowed to 75%
  • Geographic LTV restrictions removed
  • Rural properties are now eligible
theSECOND+ Matrix

theLINE (HELOC)

  • JUST ADDED – 1 & 2 year Bank Statement Doc option
  • JUST ADDED – 1 year Standard Doc option
  • JUST ADDED – 700 Minimum FICO on Alt Doc
  • Loan amounts to $500k
  • CLTVs to 90%
  • 50% max DTI
  • Stand-alone only, no piggy backs
  • Maximum combined loans of $2M
  • Minimum advance of $1K
  • 680 minimum FICO
  • 2 yr. standard doc only
  • $75K minimum loan amount
  • 0x30x12 housing/mortgage history
  • 84 month credit event seasoning
  • No reserves
  • Up to 10 acres
  • No rural
  • No mixed-use
  • 90 day “cooling off” after the initial draw
  • All occupancies available
  • 2 yr., 3 yr. and 5 yr. draw periods available
theLINE Matrix

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