Pull equity. Keep your low first-mortgage rate.
Borrow against your rental's equity, up to 75% CLTV. Your first mortgage and its rate stay as they are.
Use it for your next deal, a rehab or working capital.
Get your same-day term sheet
A few quick questions. No credit pull.
What's the property worth?
A rough number is fine.
Program snapshot*
- Loan size
- $50K-$750K
- Max CLTV
- 75%
- Term
- 10-30 years
- Property
- Homes, 2-4 units, condos
* Subject to underwriting. Terms as of November 2026.
See loan detailsWhat you get
- Up to 75% combined LTV
- Terms of 10-30 years
- Stand-alone seconds and HELOCs on investment property
- Qualify on rent (DSCR) or full documentation
- No prepayment penalty on most programs
- Investment property only
Term sheet
Same day
Who it's for
- Holding a first mortgage under 5% that you want to keep
- Raising money for a down payment, renovation or business
- Looking for a line of credit on a rental property
How much can I borrow on a second lien?
A second lien is sized on combined loan-to-value (CLTV): your first mortgage plus the new second, divided by the property value.
Maximum: 75% CLTV.
On a $500,000 rental with $250,000 owed, 75% of the value is $375,000. Subtract the first mortgage: up to $125,000 is available as a second lien, before closing costs.
Equity available
- Property value
- $500,000
- Max combined loans (75%)
- $375,000
- Current first mortgage
- -$250,000
- Second lien available
- $125,000
Illustrative. Subject to appraisal and underwriting.
Second lien vs. cash-out refinance
A cash-out refinance replaces your whole first mortgage at today's rate. If your current first is at 3 to 5%, that raises the cost of the entire balance.
A second lien leaves the first untouched. Only the new money carries the new rate.
The second lien rate is higher than a first mortgage rate, so compare the blended cost.
With a large low-rate first and a small second, the second usually wins.
If your first is small or already near today's rates, a cash-out refinance is often simpler.
A second lien usually fits when
- Your first mortgage rate is well below today's rates
- You need less than your total equity
- You want to keep the first loan's term and payment
- You plan to repay the second within a few years
From request to funded
Estimate equity
Property value and current first-mortgage balance.
Same-day term sheet
Qualify on rent (DSCR) or full documentation.
Close and fund
Closing in about 21 days.
Frequently asked questions
What is a second lien loan?
A loan secured by your property behind the existing first mortgage. The first loan stays as it is. You borrow against the remaining equity.
What is the maximum CLTV?
75% combined loan-to-value: the first mortgage and the new second together.
Can I use it on a rental property?
Yes. Second liens on investment property qualify on rental income (DSCR) or full documentation.
Is a HELOC available on a rental?
Yes. Revolving lines and fixed stand-alone seconds are available on investment property.
What can I use the money for?
A down payment on the next property, renovations, paying off higher-cost debt or business capital.
Sources
Related
Ready to price your deal?
A loan officer prices your deal. No hard credit pull.