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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

"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!"
"I can not say enough great things about Brandon Wunder! Our loan was complicated to say the least, and Brandon and his team were there with me every step of the way! With every problem he communicated and found a way to solve them. I was so nervous about this process and Br
"Groves Capital is the BEST!! Before purchasing my home, I spoke with several brokers and it was such a hassle. I mean seriously, the initial broker I was working with made me want to give up on buying a house entirely.. And then Groves Capital came along! This dream team rea
"Great company and an awesome team to make it happen an easy and smooth process thanks guys."
"I had the great pleasure of working with Josh. Not only was he super accommodating but he helped me every step of the way! For me personally, this was the first time I ever bought a home and I can certainly say that without Josh it would not have been as smooth! Thank you ag
"June An is the best! Super attentive, responds quickly, and is always there for you every step of the way. I’ve used him for both second home loan, primary home refi, and heloc loans and every time has been a wonderful experience. He acquired great rates, handled all of my q

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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.

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States We Lend In

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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