Purchase Money - 2nd Mortgage 

  1. linkedin endorsement
    via linkedin: Olivia Simms
    Ivan has been there with me through it all! It’s been almost a year and I must say Ivan has been there still. He made sure that I have been updated with whats going on being a new home owner. Even when I thought I had it together he had good tips that has helped me in every area of my new journey ! Ivan thank you so much I couldn’t imagine the journey without you, You Are Simply The GREATEST!!!
  2. via Yelp - Thao Nguyen
    via Yelp - Thao Nguyen
    I had a great experience purchasing my first home with Ivan’s help. He works with your best interest in mind, to find you the best option of your situation. For me, he went above and beyond to help me with getting documents straighten out that wasn’t really part of his job. Thanks Ivan! A trusted consultant for 10 years in the Mortgage business, I take pride in finding solutions to my clients needs. I love being the “go to” guy for my clients. There’s a good feeling when a past client sends a text message or email asking inquiring about a new mortgage. I know the hard work invested will pay off as time passes on. A little Bit More – let’s connect! lets-connect What People Say About Me – Testimonials Ivan is great at what he does. He helped me finance my first, and was extremely patient. Being that it was my first time, I had no idea what documents I needed, and I didn’t understand real estate lingo. However, Ivan was very patient and explained everything to me probably a couple of times. He also has great customer service. He responds extremely quickly and is on top of everything. He made my first transaction really smooth and easy. We got caught at some bumps in the road but he found a way to help us resolve it. He is a genuinely nice person. He occasionally shoots me an email to see how things are or whether I have any questions regarding anything. He is there to help and I can just tell that he loves his job. Thank you for helping us through our first transaction Ivan! Le Tran I had a great experience purchasing my first home with Ivan’s help. He works with your best interest in mind, to find you the best option of your situation. For me, he went above and beyond to help me with getting documents straighten out that wasn’t really part of his job. Thanks Ivan!
  3. via Yelp! - Le Tran
    via Yelp! - Le Tran
    Ivan is great at what he does. He helped me finance my first, and was extremely patient. Being that it was my first time, I had no idea what documents I needed, and I didn’t understand real estate lingo. However, Ivan was very patient and explained everything to me probably a couple of times.
  4. C Boss
    C Boss
    This experience has been flawless and so easy! Ivan has been a great resource and is so patient with first time home buyers.
  5. Tom Brewer
    Tom Brewer
    I don't know how to thank you. I feel certain that I wouldn't once again be a homeowner without your help.

what our clients say

Piggy Back : 2nd Mortgage

The “piggyback loan” program is actually two loans one of which is considered a 2nd mortgage. Structuring your mortgage in this manner gives home buyers the ability to avoid mortgage insurance, added flexibility and lower overall payments. With an 80/10/10 loan, buyers bring a ten percent down payment to closing. This leaves ninety percent of the home sale price for the mortgage. But, instead of giving one mortgage for the 90%, the buyer splits the loan into parts. 

The first part of the 80/10/10 is the “80”. The “80” represents the first mortgage and is a loan for 80% of the home’s purchase price. This loan is typically a conventional loan via Fannie Mae or Freddie Mac; and it’s offered at current market mortgage rates.

The first “10” represents the second mortgage and is a loan for 10% of the home’s purchase price. This loan is typically a home equity loan/line depending on a client’s choice of repayment structure.

And that leaves the last “10”, which represents the buyer’s down payment amount — ten percent of the purchase price. This amount is paid as cash at closing.

Piggyback Loans are not required to follow the 80/10/10 structure. In fact, we will look at the best scenario given the circumstance of the client.

Texas Tech 2nd Mortgage

texas tech fcu 2nd mortgage

TTCU Lien Submission Form
TTCU
Mortgage Rates

IBC First Equity

Purchase Money 2nds / Rate & Term Refinance 2nds

IBC/First Equity offers “piggy-back” 2nds in Texas on Owner Occupied Properties with Full Income Documentation. Credit scores as low as 690, CLTVs up to 95% and 2nd Lien Loan Amounts up to $250K (certain restrictions apply).

Second Homes

IBC/First Equity offers 2nd Mortgages on Second Homes up to 90% CLTV with Full Income Documentation. Credit scores as low as 700 and loan amounts as high as $250K (certain restrictions apply).

Home Equity / (Texas Cash-Out A6)

IBC/First Equity offers 1st & 2nd Lien Texas Home Equity Loans. Loan amounts up to $100K for 1st Lien Mortgages with credit scores as low as 620. Loan amounts up to $200K for 2nd Lien Mortgages with credit scores as low as 660. IBC/First Equity offers no-closing cost Home Equity programs (certain restrictions apply).

Home Equity Line of Credit (HELOC)

IBC/First Equity offers 1st & 2nd Lien Home Equity Line of Credit. Loan amounts up to $500K for 1st Lien Mortgages with credit scores as low as 620. Loan amounts up to $200K for 2nd Lien Mortgages with credit scores as low as 660. IBC/First Equity offers no-closing cost Home Equity Line of Credit programs (certain restrictions apply).

Home Improvement

IBC/First Equity offers 1st & 2nd Lien Home Improvement Loans up to 90% CLTV. We offer Improvement amounts up to $200K and credit scores as low as 620 for 1st Liens and 700 for 2nd Liens (certain restrictions apply).
IBC First Equity  - Mortgage Rates