ALTERNATIVE DOCUMENTATION SECOND LIENS
Non-QM Second Lien Mortgage
Borrower needs $400,000 and is sitting on a first lien at 3% they will never see again. Castor's non-QM second mortgage program, Equity Access, reaches a standalone second to $750,000 at 660 FICO, with no reserves and no cash to close required.
What Is a Non-QM 2nd Mortgage?
Castor Financial's standalone second mortgage programs, also called second liens, let a borrower access equity without refinancing an existing first mortgage. Equity Access reaches $750,000 at a minimum 660 FICO and 90% CLTV, with no reserves and no cash to close required. Full documentation, bank statement, P&L and DSCR qualification are all available.
Why Brokers
Choose Castor
For Non-QM 2nd Mortgage Loans
1st Lien Stays Put
EQUITY ACCESS
A standalone second to $750,000. The borrower keeps the rate they will never see again and still gets the cash. This is the single most valuable conversation a broker can have in a high-rate environment.
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No Reserves, No Cash to Close
EQUITY ACCESS
Neither is required. That removes the two friction points that most often kill a second lien at the closing table.
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Self-employed Income Works
EQUITY ACCESS
Full documentation, 12 months of personal or business bank statements, or a P&L. The second lien is not restricted to W-2 borrowers.
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The Investor Second
EQUITY DSCR
A standalone second on an investment property qualified at 1.00x DSCR with no reserves required, so an investor can recycle equity into the next acquisition.
Program Name | Max Loan Amount | Min FICO | Max LTV | Occupancy |
|---|---|---|---|---|
Equity Access | $750,000 | 660 | 90% CLTV | Primary, Second, Investment |
Equity Advantage | $500,000 | 680 | 90% CLTV | Primary, Second, Investment |
Equity DSCR | $500,000 | 680 | 80% CLTV | Investment only |