Attention first-time homebuyers and current homeowners!
We have new Second Mortgage options aimed to help you get into a new home faster, while saving money along the way!
First-time homebuyer?
You can make the move sooner and keep more cash in your pocket with a Second Mortgage from First Entertainment! Paired with a primary home loan, this powerful lending tool can enable you to purchase a property with a down payment as low as 0% while avoiding costly PMI (private mortgage insurance).
Current homeowner?
With a Second Mortgage from First Entertainment, you can tap into the home equity you’ve built and lock in a great fixed rate! It’s an ideal solution for financing major home improvement projects or for paying off a higher-interest HELOC.
Features include:
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Terms of up to 25 years (for homebuyers) or 20 years (for current homeowners)
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Competitive fixed rates , so you don’t have to worry about market fluctuations
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Available in amounts up to $500,000 ($250,000 if over 80% combined loan-to-value)
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Homebuyers can choose from multiple loan structures: 80/5/15, 80/10/10, or 80/15/5
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Can also let buyers avoid Jumbo Loan status and secure a lower primary mortgage rate