2nd Position Loans Are Here: A Guide for Homeowners
2nd Position Loan Options up to $10M | Fast Close | 65% CLTV | Typically without an appraisal
Are you buying a new investment property? or
Are you buying a new investment property and need to pull cash out of other real estate owned for the down payment? or
Do you need cash out from a current property owned to pay off a business purpose? or
Do you need cash out from a current investment property to improve that investment property?
Valor Lending Group can fund your HARD MONEY 2ND POSITION LOAN OPTIONS up to $10MM in as little as 7-10 days oftentimes without an appraisal.
2nd Position Loans has become one of the most requested programs to date.
At Valor Lending Group, we take great pride in the service we provide. We have a vested interest in satisfying your needs since we rely on referrals and your repeat business.
We offer a variety of 2nd position loans.
- 2nd Position HELOC (Home Equity Line of Credit)
- Requires 2 years of tax returns with a MAX DTI of 50%
- Up to 90% CLTV on owner-occupied primary residence
- Typically 10 year draw period and 10 10-year payback period on a 30-year amortization
- ONLY make payments on the balance drawn upon (like a big credit card)
- Close Ended 2nd Position (Owner Occupied and Investment)
- Qualify with 2 years tax returns OR 12-24 month bank statements for self-employed individuals
- Up to 90% CLTV on owner-occupied and primary residence
- MAX DTI of 50%
- DSCR available up to 70% CLTV (no tax returns and no DTI calculated)
- Loan funded in one lump sum
- 2nd Position Business Purpose (Short-Term Hard Money)
- 65% MAX CLTV behind a 1st TD bank loan
- Loan funded in one lump sum
- Short-Term Interest Only Loan up to 12-24 months
- No Prepayment Penalty
- 2nd Position Consumer Bridge (Owner Occupied ONLY)
- Departing residence required – leverage available equity in departing residence for the down payment on your new primary residence while your departing residence sells
- 65% MAX CLTV behind a 1st TD bank loan
- Loan funded in one lump sum
- Short-Term Interest Only Loan for 11 months
- No Prepayment Penalty
*No appraisal is subject to lender discretion on a case-by-case basis
We are NEVER too busy for your referrals!
WE SAVE DEALS
Recap of our Loan Products
- Hard Money Loans (35% down / minimal documentation) are Typically Funded in 7-10 days.
- Stated Income Loans (Great for business owners and self-employed) No tax returns!
- Valor VA Home Loan 100% financing up to $1.5MM
- Rental Property Loan – No tax returns or DTI calculation! Based on the subject property’s cash flow – No DSCR Coverage is needed!
- Flipper & Rehab Loans (Flip a property with one of our many options)
- 2nd Position Loans up to $10mm
- Raw Land & Lot Loans
- Ground-up Construction for spec homes, custom homes, and commercial ground-up.
- Farms, Vineyards, Ranches, and Agricultural Properties (25-30% down)
- 10% down Jumbo’s with NO MI up to 2MM / 10% down up to $3mm
- Acreage Properties
- Commercial Loans up to $500mm
- 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
- Foreign Nationals Loans (no social security or residency required)
- **Terms and conditions can change daily without notice
Other Programs We offer:
- Conventional Conforming Loans
- High Balance Conforming
- FHA, USDA
- Reverse mortgages up to $1 Million in Value
- Cash-Out Refinancing
*Terms and conditions can change daily without notice
For the most up-to-date mortgage news, visit Mortgage News Daily
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