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10721 Jackson Lane, Frisco TX 75035

Phone: (214) 387-0683       Fax: (214) 387-0185       Email Us

 
 
 

Simultaneous Second

Get a One Stop Execution for First and Second Mortgages

With the Simultaneous Second mortgage, borrowers may get a lower payment than with a high-LTV first mortgage, along with the convenience of closing both loans together.

Simultaneous Seconds is originated and closed in conjunction with your first mortgage, which brings you the benefits of just one loan processing and closing. Your monthly payment will be lower than it would be with a single, larger first mortgage because there is no private mortgage insurance required.


Key Features

  • High loan-to-value ratios for both purchase and refinances are available.
  • No borrower-paid mortgage insurance is required.
  • There is no minimum loan amount.
  • Second mortgage terms available include 15-year or a 30-year-due-in-15 balloon.
  • No separate escrow deposit is required for the second mortgage.

Consumer Benefits

  • May have a lower monthly payment than with a high-loan-to-value first mortgage because there's no mortgage insurance required
     
  • Convenience of closing both loans together

 

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2006 Conforming Loan Limits

Number of
Units
Maximum original
principal balance
Alaska, Guam, Hawaii,
and U.S. Virgin Islands only
1 $417,000 $625,500
2 $533,850 $800,775
3 $645,300 $967,950
4 $801,950 $1,202,925

 

 

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OPEN MORTGAGE
10721 Jackson Lane, Frisco TX 75035

PHONE:
214-387-0683EMAIL: info@brown-lending.com

 

"Your reliable Dallas Mortgage Broker and specialist on Texas Mortgage Rates and Home Mortgage Loans."

 

 

Fixed Rate Mortgage