Need Cash without losing your First Mortgage Rate of that you locked in when rates were low? A Second Mortgage unlocks your home equity without replacing your low first mortgage rate!
Most borrowers qualify for a second mortgage if they own the home and have sufficient equity (lenders typically look for a combined loan-to-value of about 80–85% or lower), stable income, a reasonable debt-to-income ratio, and acceptable credit (many programs expect a 620+ score).
Unlock your equity as fast as 5-7 days after approval!
No need to worry about variable interest rates!
Keep your low rates on your 1st Mortgage while putting your equity to work!
Alex owns a home valued at $400,000.
He still owes $250,000 on his first mortgage of 3%, so he has $150,000 in equity.
His lender approves a second mortgage for $75,000 based on equity, credit, and income.
Alex takes a $50,000 lump sum from that second mortgage to renovate his kitchen.
This second mortgage is a fixed-rate & his 1st Mortgage rate stays the same! On a sample term of 15 years at 5.00% fixed, the payment on the $50,000
would be about $395.40 per month.
Raymond Upchurch
NMLS 960856
DRE#01267758
Client Direct Mortgage
Licensed In: AL, AZ, CA, CO, CT, DC, FL, GA, ID, IL, IA, KS, KY, LA, MD, ME, MI, MN, MS, NE, NJ, NC, OH, OR, PA, SC, TN, TX, VA, WA, WI, WY & WV | NMLS #1065732
Ray Upchurch Mortgage & Real Estate Broker
2700 Ygnacio Valley Rd
Suite 255
Walnut Creek Ca,94598
Mon-Fri (8am-6pm)
Sat-Sun (By Appointment only)
Number: (916) 544-3229
Email: rayupchurch@gmail.com
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