Looking for no seasoning 2nd mort refi

I’m looking for a no seasoning 2nd mortgage refi so I can cash out 90-100% of my equity. I currently have 45k equity from the SFH that I just bought.
Could I get a HELOC on this one? Anybody who has a better solution? I need a fast closing in this one also. Property is located in IN. Credit score of 650+.
I would appreciate all answers.

650 may be a little harder for the 2nd mortgage. There are 2nds out there for no seasoning. Will check some programs for you.

I stand corrected.


Property is located in IN.

Looks to me like INdiana. :wink:

You shouldn’t have a problem getting a HELOC. You’re probably looking at 90% CLTV below 660 fico, up to 100% above 660 fico. There are extra restrictions if your 1st lien is an option ARM. Also keep in mind your interest rate won’t be the most attractive, but you can definitely get your loan done.

Thanks to all who responded. I guess I’ll just wait 6 months or just sell the property. Again, thanks to all!

Where’d you get your scores from? A lender or broker or a website?

Is there anywhere on your credit report where score improvement can be had?

With a 650 we (as well as many other brokers) have a lender, Citi Home Equity, who’ll do a no seasoning 2nd mortgage on a primary residence to 100% up to $35k.

Liverichly, what is your contact number and company phone?

Check out Aegis Home Equity and National City.

No seasoning 2nds are available with a 650. The previous post actually shows a restriction on the loan size. maximum is 35,000.00. There are funding resources with this deal at $350,000.00 maximum. If needed I can research your specific details.