Second Mortgage Products

Second Mortgage Products Highlights:

• Simultaneous closing with FLCBank first mortgage gives originators "one-stop-shop".
• FLCBank prepares the initial disclosure package including Federal and State required disclosures for these products.
• Eliminate the need for private mortgage insurance (PMI).
• Avoid Jumbo requirements with a conforming first mortgage.
• Available on purchase, rate and term, and cash-out (cash-out on 2nd mortgage only) refinances with CLTV up to 95%.
• Ability to use First Lien appraisal for second Lien product.
• Documentation per FNMA Desktop Originator acceptable, or FHLMC Loan Product Advisor acceptable.