Rental Property

Non-Primary Residence Second Mortgage Loan
You may be able to refinance an existing First Mortgage loan on your rental property or obtain a Second Mortgage loan. Loans are available for single family homes, townhouses, and condos located in Palm Beach County. The property may be a vacation home, second home, or rental.

When we refinance an existing First Mortgage loan with our Second Mortgage loan you save money on closing costs and get a great rate. We call this the “We’re # 1 Loan”. We designed this loan for borrowers who were discouraged by the high closing costs to refinance a First Mortgage loan. There is still time while interest rates are still low to get a great rate.

Special Features of the We’re #1 Loan:

  • Low interest rates
  • Lower closing costs than a standard First Mortgage
  • No escrow requirement for lower LTV
  • Quicker closing process

Because our loan interest rates are so low, we do require strong Loan to Value (LTV) ratios. The maximum LTV is 60% and is scaled down for lower credit grades as well as for condos and town homes.

Other Special Features of all Non-Primary Residence Loans:

  • No Points
  • Fixed rates
  • Convenience of automatic deduction of payments

For more information please call 561.641.0100. Or submit your application online.

 

Mailing Address
1055 S. Congress Avenue
West Palm Beach, Florida 33406-5195

561.641.0100 Phone

Your savings are federally insured to at least $250,000 Your savings are federally insured by NCUA
Equal Housing Opportunity

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