A quick close second mortgage in two sizes — up to $50,000 and up to $75,000 — quoted as one all-in price that already contains the lender fee, the legal cost and the broker fee. Open with no prepayment penalty, no income verification, and funded in 48 hours when the file is complete.
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The lender fee, the lawyer and your compensation are inside the quoted price. Your borrower sees one number and so do you.
No prepayment penalty. If the borrower's refinance lands in month three, they leave in month three.
Built to fund in two days. Send it complete and it moves; send it partial and it waits, like everything else.
Tier A runs to 75% loan-to-value on a six-month term. Tier B goes to 85% loan-to-value with a six to twelve month term. Both are open. Which tier a file lands in depends on the property, the market and the credit band.
It means the lender-side legal cost of preparing and registering the charge is inside the all-in price rather than billed separately at closing. Independent legal advice for the borrower, where required, is a separate matter and is disclosed on the commitment.
No — the quick-close series sits in the Prime family, so it needs an institutional or conventional first and no private money already registered. Where there is private money on title, look at Flex 2nd.
Yes. Prime 50 and Prime 75 require no income confirmation of any kind. The file is underwritten on the appraisal, the credit bureau and the exit plan, and funded inside 48 hours.
For a small, short bridge — a deposit, closing costs, or a gap between a purchase and a sale — yes. Both are open with no penalty, so the second is repaid the day the sale closes.
Yes, in its simplest form. An equity takeout mortgage releases part of the value already in the home as cash; Prime 50 and Prime 75 do that as a small second charge, priced all-in, without income documents, and closed in days rather than weeks. For larger takeouts the file moves to Prime 2nd or Flex 2nd.
