Mortgage Information

Simultaneous Second

With the Simultaneous Second mortgage, borrowers may get a lower payment than with a high-LTV first mortgage, along with the convenience of closing both loans together. For lenders using Desktop Underwriter®, the "Approve/Eligible" recommendation for the first mortgage automatically conveys to the second mortgage.

Consumer Benefits

• May have a lower monthly payment than with a high-loan-to-value first mortgage because there's no mortgage insurance required
• Convenience of closing both loans together

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