SECOND MORTGAGE

Flexible financing solutions designed for homeowners seeking additional borrowing options

Loan Programs

Second Mortgage

A flexible financing solution designed to help homeowners access available equity while keeping their existing first mortgage in place.

Program Overview

The Second Mortgage program is designed to help homeowners access the equity in their property while keeping their current first mortgage in place. This can be a practical option for borrowers who want cash for home improvements, debt consolidation, investments, or other major financial needs without giving up the terms of their existing mortgage.

Program Features

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Allows homeowners to access available equity through a second mortgage.

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Keeps the existing first mortgage in place.

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Funds may be used for home improvements, debt consolidation, or major expenses.

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Can be a practical alternative to a full cash-out refinance.

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Designed for borrowers who want added financial flexibility.

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Helps homeowners turn built-up equity into usable funds.

Why Choose This Program?

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A strong solution for homeowners who want cash without replacing their first mortgage.

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May help borrowers preserve a favorable existing mortgage rate.

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Can support debt consolidation and simplify financial obligations.

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Provides flexibility for renovations, repairs, or large planned expenses.

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Allows homeowners to use property value while continuing to live in the home.

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Gives qualified borrowers another tool to manage financial goals.

Who This Program Is Great For?

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Homeowners with available equity in their property.

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Borrowers who want to access cash without refinancing their first mortgage.

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Clients planning home improvements, repairs, or renovations.

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Borrowers looking to consolidate debt or manage major expenses.

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Homeowners who want to preserve their current first mortgage terms.

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Clients who want guidance on using home equity strategically.

Download Loan Program

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Co-Brand Loan Program

Access the co-branded version to share this program with your clients and referral partners.

Need Help Structuring a Second Mortgage?

Connect with a loan officer to review your scenario and get clear guidance on the best next step.

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Closed-End Second Mortgage at a Glance

Quick answer: A closed-end second mortgage is a fixed lump-sum loan behind your existing first mortgage, so you can access equity without refinancing the first. TAG's program offers up to 90% CLTV, a 660 minimum FICO and loan amounts up to $850K, subject to underwriting and investor guidelines. Last reviewed: November 2026.

90%
Max CLTV
660
Min. FICO
$850K
Max loan amount
Fixed
Lump sum, closed-end

More Second Mortgage Details

  • Keeps your existing first mortgage in place
  • One-time lump-sum funding with a fixed repayment schedule
  • Useful for renovations, debt consolidation or other large expenses
  • Terms, CLTV and eligibility vary by investor, occupancy, property type and loan size

Second Mortgage FAQs

What is a closed-end second mortgage?

A loan secured by your home that sits behind your first mortgage and pays out as a single lump sum with fixed repayment, unlike a line of credit.

What are the CLTV, credit score and loan amount limits?

Up to 90% CLTV, a 660 minimum FICO and loan amounts up to $850K. Final limits depend on the investor, property and borrower profile.

Do I have to refinance my first mortgage?

No. A second mortgage leaves your first mortgage as is, which can be helpful if you want to keep your existing first-lien terms.

What is the difference between a second mortgage and a HELOC?

A closed-end second pays out once as a lump sum with fixed repayment. A HELOC is a line of credit you can draw on as needed. The right fit depends on how and when you need the funds.

Can mortgage brokers submit second mortgages to TAG?

Yes. Licensed brokers can submit files through TAG's wholesale channel in the states where TAG is licensed as a lender. No approval or closing date is guaranteed.

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