Non-QM Second Mortgage: A Solution for Debt Consolidation

Nov 27, 2023

Are you a borrower looking to consolidate your debt while keeping your current interest rate on your first lien mortgage? Look no further than our Second Mortgage product. With this innovative solution, you can obtain a stand-alone second mortgage using alternative income calculations, allowing you to consolidate your debt and improve your financial situation. Let’s explore how this product can benefit you.

The Borrower’s Situation:

Our borrower has a primary residence with a 4.5% interest rate on their first lien mortgage, which they wish to maintain. They have been self-employed for the past 16 years, resulting in a 68% debt-to-income ratio when utilizing their tax returns. However, their goal is to obtain a second lien mortgage to consolidate their debt and improve their financial standing.

The Non-QM Solution:

With our Second Mortgage product, the borrower can achieve their goal. Instead of relying on tax returns, this product utilizes 12 months of bank statement deposits as alternative income calculations. By considering the borrower’s actual bank activity, a more accurate debt-to-income ratio of 46% is achieved. This allows the borrower to consolidate their debt effectively and improve their financial situation.


  • Alternative Income Calculations: Instead of relying solely on tax returns, this product considers 12 months of bank statement deposits. This provides a more accurate representation of the borrower’s income and debt-to-income ratio.
  • Debt Consolidation: By obtaining a stand-alone second mortgage, the borrower can consolidate their debt into one manageable payment. This can lead to improved financial stability and reduced stress.

If you’re a borrower looking to consolidate your debt while maintaining your current interest rate on your first lien mortgage, our Second Mortgage product is the solution for you. With alternative income calculations and the ability to obtain a stand-alone second mortgage, you can achieve your financial goals and improve your overall financial situation. Contact us today to learn more about this innovative product and how it can benefit you.