What is a Fast 2nd Mortgage Loan?
Fast Second Mortgages business loans that sits behind an existing 1st Mortgage with your bank. HomeSec Second Mortgages are perfect if you need access to extra funds by tomorrow, and you want them for a longer term of 12 months or more.
HomeSec 2nd Mortgage Loans can settle within 24 hours, which is much better than waiting months to refinance your current 1st mortgage.
Fast Second Mortgages are affordable Interest Only loans
A Principal & Interest loan has much higher monthly payments which puts pressure on your cashflow. However, with Second Mortgage Loan, you simply pay the interest each month which makes the monthly committment a lot less.
At the end of the 12 month term, you can pay the 2nd mortgage loan out (often through the sale of an asset, or refinance). OR you can extend the loan with no additional fees. You simply continue to pay the interest each month and pay out whenever you choose.
As it is a business loan, all interest and costs are fully tax deductible.
What is Required?
Why a 12 Month Second Mortgage?
Been Declined by Unsecured Cashflow Lenders?
If you a looking for a longer term business loan (of 12 months or more), and you have tried the Cash Flow Lenders and they can’t fund you, then as long as you have sufficient equity in a piece of real estate, we will fund you.
Our fast 2nd Mortgages often have lower monthly payments as they are an “interest only” loan. In addition, HomeSec will fund any industry, and your credit score and payment history is
irrelevant. Plus we can fund you in just 24 hours from the time you apply.
Mortgage and Finance Brokers
This is a smart move, because brokers need to be able have a solution if a client comes to them needing a large sum of money. If they can’t get them approved with any of the Cash Flow Lenders due to servicability issues, poor credit score, high loan amount, business type or length of time in business then they have a BIG problem.
However none of that worries HomeSec, so once of our Fast Second Mortgages is the answer.