Deephaven introduces a unique solution tailored for savvy borrowers seeking a cash-out refinance without bidding farewell to their enviable low-interest mortgage rates. This innovative stand-alone second mortgage product is custom-crafted for individuals, especially the self-employed, who prefer using bank statements over tax returns.
With the Second Mortgage program, borrowers can unlock their equity by securing a separate second mortgage. The flexibility of this cash-out refinance extends to various purposes like home enhancements, consolidating debts, education expenses, business funding, and other financially prudent ventures. This product stands as an optimal choice for self-employed professionals, real estate investors, and those rebounding from credit challenges, not fitting traditional lending criteria.
Key Highlights of the Second Mortgage Program:
- Stand-alone second lien mortgage
- Applicable to primary residences, secondary homes, and investment properties
- Loan amounts reaching up to $500,000
- Eligibility for single-family residences, townhomes, 2-4 unit properties, and warrantable condos
- Acceptance of full documentation, both personal and business bank statements
Deephaven’s Second Mortgage program empowers borrowers to leverage their financial resources effectively while preserving their existing low-interest rates—an innovative and flexible solution for diverse borrowing needs.
