A closed-end second mortgage gives you one lump sum at a fixed rate, repaid on a set schedule — the predictable alternative to a revolving line when you know exactly how much you need.
Share a few details and our team can Tell us how much equity you have and what you need — we will compare fixed versus revolving.
Prefer to talk now? 954-590-8464A closed-end second mortgage sits behind your first mortgage as a second lien. You receive the full amount at closing, and it is repaid in fixed installments at a fixed rate over a set term — no draw period, no variable rate, no uncertainty.
Where a HELOC is flexible but variable, a closed-end second is predictable. If you know the figure you need — a renovation budget, a consolidation amount, a down payment on the next property — the fixed structure usually costs less over the life of the loan.
When the amount is settled, a fixed structure beats a variable line on certainty.
Your rate is set at closing and never adjusts.
The same installment every month for the life of the loan.
The full amount is disbursed at once, so the project can start immediately.
Your existing first mortgage stays untouched.
Secured by your home, so it prices well below personal loans and cards.
Nothing to manage and nothing to forget — the loan simply amortizes.
These are typical closed-end second guidelines. Your exact scenario is reviewed one-on-one by a specialist.
Commonly 640-700 minimum depending on the CLTV requested and property use.
Frequently capped near 80-85% for owner-occupied property, lower for investment.
Typically up to 43-50%, with reserves and credit supporting the upper range.
Programs commonly run from $10,000 to several hundred thousand dollars.
Primary residences, second homes, and investment properties, subject to limits.
Full documentation, or bank statement options on select programs.
Complete one application and tell us about your goals and timeline.
We review your file, check CLOSED-END guidelines, and lock your rate.
We handle the details with your agent and title team — keys in hand.
A closed-end second pays a single lump sum at a fixed rate with a fixed repayment schedule. A HELOC is a revolving line with a draw period, typically a variable rate, and interest-only payments at the start.
It depends on your equity and the program. Combined loan-to-value is often capped near 80-85% for owner-occupied homes, which sets the ceiling on the second mortgage amount.
No. A closed-end second is a separate lien that sits behind your existing first mortgage, so your current first-mortgage rate and terms stay exactly as they are.
Submitting the contact form does not trigger a credit inquiry. If a credit pull is needed, we explain the process and get your permission first.
Talk to an Eagles Funding Group specialist about your CLOSED-END options — we'll guide you from application to keys.
