Reach The Equity. Keep The Rate.
A standalone second lien on a rental you already own, which leaves the first mortgage exactly where it is.*
Do not refinance a good first mortgage.
If the loan on your rental carries a low rate, replacing it to reach equity is the expensive way round. A second lien is the other way.
- A standalone second lien, not a piggyback at purchase*
- Investment property eligible alongside primary and second homes*
- Six months since the last mortgage transaction on investment property*
- Investor loan sizes capped below owner occupied*
- Certain markets are excluded on investment property*
- Full documentation and bank statement routes available*
Structured as a standalone second lien*
Investment property is eligible alongside primary and second homes*
A standalone second, not a piggyback taken at purchase*
Ownership seasoning of six months applies on investment property*
Investor loan sizes are capped below owner occupied ones*
Some counties and states are excluded on investment property*
What is the Saxton Investment Second Lien?
A home equity loan behind the mortgage on a property you rent out
This is a closed end second lien on an investment property. It sits behind the existing first mortgage rather than replacing it, so the rate and term on that first loan are untouched.
Two things decide this one: how long you have owned the property, and where it is. Both are checked before anything else, because either can stop the transaction regardless of your equity.
For most landlords right now that is the entire argument. A first mortgage taken a few years ago is often the cheapest debt they will ever hold, and a cash out refinance means surrendering it. A second lien reaches the same equity and leaves it alone.*
Why choose the Saxton Investment Second Lien?
Built for landlords sitting on a first mortgage they do not want to give up.
Keep The Cheap Debt
The first mortgage stays exactly as it is. You are adding a lien rather than replacing one.
Six Months Of Ownership
On investment property a minimum period must have elapsed since the last mortgage transaction on it before a second lien can be written.*
Smaller Than Owner Occupied
Investor loan sizes are capped below what an owner occupied property can reach on the same program.*
Geography Matters Here
Several markets are excluded on investment property specifically. Check the address before you plan around the money.*
Documentation Options
Full documentation and bank statement routes are both available, and a profit and loss route exists with tighter terms.*
Funding The Next One
The most common use is the deposit on the next property, taken without disturbing the loan on this one.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about second liens on rental property.
Because if the first mortgage carries a low rate, replacing it is the expensive way to reach equity. A second lien leaves that loan alone and takes the equity behind it.
Yes. Investment property is an eligible occupancy on this program, alongside primary residences and second homes, though the terms are tighter.*
On investment property a minimum of six months must have elapsed since the most recent mortgage transaction on the property, whether that was the purchase or a refinance.*
Less than an owner occupied property can reach on the same program. Investor loan sizes are capped lower, and a licensed loan officer can give you the figure for your file.*
Yes. Several markets are excluded on investment property specifically, and the list is not intuitive. Check the address early rather than late.*
Full documentation and bank statement routes are both available. A profit and loss route exists as well, with tighter terms attached to it.*
No. A second lien sits behind the first by operation of law rather than by permission. The first lender is not asked to approve it.
Find out what you qualify for
If you have equity in a rental and a first mortgage worth keeping, there is likely a Saxton Investment Second Lien that fits. Get a fast, no obligation pre-qualification today.
Get Pre-Qualified- Consumer Financial Protection Bureau, home equity loan compared with a HELOC
- Consumer Financial Protection Bureau, mortgages
*Loan amounts, rates, terms, and down payment requirements are subject to credit approval, income and asset verification, and program eligibility. Standalone second lien financing on investment property carries ownership seasoning requirements, lower maximum loan sizes than owner occupied financing, and geographic restrictions that vary by investor. Requirements vary by occupancy, credit profile and documentation type. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.