Closed-End Second Mortgage
Borrowers can retain their low first mortgage rate while accessing home equity through a flexible Closed-End Second Mortgage. This powerful option helps Delegated Correspondent lenders offer clients a fixed-rate second without disrupting their existing first mortgage, making it ideal for today’s rate environment.
- Loan Amounts $75,000 – $500,000
- Min. FICO 680 (Max 75% LTV)
- Max LTV 90% (Min. FICO 740)
- No Reserve Requirements
- Wage/Salary: Paystubs, W-2’s, 1-year of Tax Returns, IRS Form 4506-C, Verbal VOE
- Self-Employed: 1-year of Personal and Business Tax Returns, YTD P&L, 2-monthly bank statements, IRS Form 4506-C
- 12-months of Bank Statements
- 1-year 1099
Why offer Closed-End Second Mortgages through BluePoint Correspondent?
Closed-End Second Mortgage for Delegated Correspondent Lenders
A Closed-End Second Mortgage is a valuable option for borrowers who want to access home equity while keeping their low-rate first mortgage intact. With today’s rate environment, many homeowners are hesitant to refinance their first mortgage—making second liens more attractive than ever. BluePoint Correspondent’s Closed-End Second Mortgage programs give lenders the flexibility to serve this growing market.
Our second mortgage loans offer fixed rates, predictable payments, and no reserve requirements—helping your clients tap equity with confidence. Delegated Correspondent lenders can fund these loans using their warehouse line and sell to BluePoint Correspondent with ease. Loan amounts range from $75,000 to $500,000, with FICOs as low as 680 and CLTVs up to 90%. Income options include Full-Doc (paystubs, W-2s, tax returns, 4506-C) or Alt-Doc (bank statements, 1099 income, CPA-prepared P&L).
By offering Closed-End Second Mortgages, Delegated Correspondent lenders can serve more borrowers who may not qualify for a full cash-out refinance. These loans are ideal for debt consolidation, home improvements, or accessing equity for investment purposes—without disturbing the borrower’s first mortgage.
Partner with BluePoint Correspondent to find the best Closed-End Second Mortgage options for your clients. Our team is here to help you deliver Non-QM second mortgages that drive growth for your lending business. Contact BluePoint Correspondent today and see how we can help you grow your Non-QM pipeline.
Learn more about second mortgages.