LOAN TYPE: PORTFOLIO
POSITION: 2ND
RATE TYPE: FIXED
PAYMENT TYPE: AMORTIZING
LOAN LIMITS: $50,000 – $500,000
LTV Limit: 100%
INDEX: N/A
TERM: 15, 20, 25, & 30 Yrs

ADVANTAGES:
• Keep lower fixed rate on 1st position mortgage loan
• Max CLTV up to 100%
• Lacks HELOC’s exposure to variable rates
DISADVANTAGES:
• Higher fixed rates than Agency loans
• Lacks flexibility of HELOC product