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Second Position

Second position loans, also known as second mortgages or home equity loans, are a type of financing that allows homeowners to borrow against the equity in their home. This type of loan is called a second position loan because it is a secondary loan that is taken out in addition to the primary mortgage on the property.

One of the key benefits of second position loans is that they can provide access to a large amount of funding, often at a lower interest rate than other types of financing. This is because the loan is secured by the equity in the home, which acts as collateral for the loan. This can make second position loans a good option for homeowners who are looking to finance a large purchase or consolidate high-interest debt.

Up to
90%
LTV - Purchase
90%
LTV - Rate & Term
90%
LTV - CASH OUT

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Second Position

Another benefit of second position loans is that they are often easier to qualify for than other types of financing. This is because the loan is secured by the equity in the home, which reduces the risk for the lender. As a result, borrowers who may not qualify for a traditional loan due to factors such as a low credit score or high debt-to-income ratio may still be able to obtain a second position loan.

One potential drawback of second position loans is that they are a form of secured debt. This means that if the borrower is unable to make the loan payments, the lender can foreclose on the property and take possession of the home in order to recoup their losses. As a result, it is important for borrowers to carefully consider their ability to make the loan payments before taking out a second position loan.

Overall, second position loans can be a useful financing option for homeowners who are looking to access a large amount of funding at a lower interest rate. However, it is important for borrowers to carefully consider the risks and potential drawbacks of this type of loan before proceeding.

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Testimonials

"Kristin Howard is absolutely best !!!!!!!!! She stayed on top of my deal until closing date.Cant ask for better service . Thank you Kristin"
"Susan is the BEST! I have done several transactions with her and she has always been so helpful and made the process so easy. These can be stressful but with Susan it is always simple. Highly recommend!"
"We had the pleasure of working with Angel Pierro. He was supportive during this entire process and we would 100% use him again! Highly recommend!"
"I am so grateful to Maricris Duke for being so wonderful and helpful during the entire process. As a first time home buyer, I had a lot of questions and doubts but Maricris was there to answer and explain everything to me. Thank you for all the help to get the loan and ass
"We had a very nice experience and had a quick aprroval!"
"Josh Settersten, was AMAZING to work with. Really really good at what he does. Professional, trustworthy, good listener and tries to get you the best deal out there. I learned so much about getting a mortgage from him. He delivered on all fronts. I am glad I had him in my co
"Josh helped tremendously throughout the entire process of purchasing our first home. He was excellent at communicating and overall exceeded our expectations. I would highly recommend working with Josh!"

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Why Should You Choose Us?

We're here to make the home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our simple Hard Money Rate Quote.

  • Customer Focused
  • Minimal Documentation
  • In-Houses Controls
  • Best Loan Services
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Whether you’re looking to purchase a new home or refinance your existing home,Groves Capital can provide all the help you need.

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States We Lend In

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Looking for lending in a state not listed? We do lend in other states on a case-by-case scenario. Give us a call to see what we can do for you.

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