Programs
Closed-End Second (Second home)

Closed-End Second (Second home)

Min. FICO 660
Max CLTV up to 85%
Max DTI 50%

Program Overview:

Specifically designed to unlock equity in vacation and seasonal properties without refinancing the primary residence or existing first lien on the second home.

Broker Advantage:

  • Vacation Equity: Turn idle equity in a vacation home into usable cash for any purpose.
  • Lump-Sum Stability: Fixed rate and term for up to 30 years, protecting against market volatility.
  • Fixed Payment: Predictive payments for the life of the loan.

Highlights:

  • FICO: Minimum 660.
  • CLTV: Up to 80%.
  • Ratios: 50% DTI limit.
  • Loan Amounts: $50,000 to $750,000.
  • Reserves: Standard none required for stand-alone seconds.
  • Property Type: Eligible for 1-unit dwellings suitable for year-round occupancy.

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DSCR FAQ

What qualifies as a second home?

A property occupied part-time by the borrower.

Can rental income be used?

Possibly, depending on documentation.

What documentation options are allowed?

Full Doc, Bank Statement, WVOE, or P&L.

What is the maximum CLTV?

Up to 85% CLTV.

What loan amounts are available?

$50,000 to $750,000.

Exlpore more Closed-End Second (Second home) Loan Programs

Closed-End Second (Owner Occupied)

Min. FICO 660
Max CLTV up to 90%
  • Loan amounts from $50,000 to $750,000
  • Multiple documentation types: Full Doc, Bank Statement, WVOE, P&L Only, 1099
  • Max combined lien balance up to $2,000,000

Closed-End Second (Non-Owner Occupied)

Min. FICO 660
Max CLTV up to 80%
  • Loan amounts from $50,000 to $750,000
  • Full Doc, Bank Statement, WVOE, P&L Only, and DSCR (min DSCR 1.00)
  • Max combined lien balance up to $5,000,000

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Legions Capital, Inc. is an Equal Housing Lender. NMLS ID #1553947. 21800 Burbank Boulevard, Suite 100, Woodland Hills, CA 91367. 818-818-483-4542. State Licensing: Legions Capital, Inc. is licensed by: AZ #BK-2008712 “Arizona Mortgage Banker License”; CA #60DBO-64540 “Licensed by the Department of Financial Protection and Innovation under the California Financing Law”; CO “Mortgage Company Registration”; CT #ML-1553947 “Mortgage Lender License”; FL #MLD2349 "Mortgage Lender Servicer License"; GA #1553947 “Mortgage Lender License/Registration”; MI #FL0026913 “1st Mortgage Broker/Lender Registrar”; OR #1553947 “Mortgage Lending License”; PA #116958 "Mortgage Lender License"; SC-BFI #MLS-1553947 “Mortgage Lender/Servicer License”; TN #1553947 ”Mortgage License”; TX-SML “Mortgage Banker Registration”; WA #CL-1553947 “Washington Consumer Loan Company License”; WI #1553947BR “Mortgage Banker License”. Verify our licenses at: www.nmlsconsumeraccess.org. Texas Consumers: Click here to view the Texas Consumer Complaint & Recovery Fund Notice. Availability: Loan approval and rates are dependent upon applicant’s credit, collateral, financial history, and program availability at time of origination. Programs and rates are subject to change without notice and may or may not be available at the time of loan commitment or lock-in.
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