Second Mortgage Options Made Simple
If you’re looking to access cash without refinancing your first mortgage, our second mortgage options are built to help. At Buccaneer Mortgage, we offer both fixed-rate and Non-QM second mortgage options that give homeowners, real estate investors, and self-employed borrowers the flexibility to tap into their home’s equity—on their own terms.
Whether you’re planning a home renovation, consolidating high-interest debt, or expanding your real estate portfolio, we can help you make your equity work smarter.
Fixed-Rate Second Mortgage Options for Homeowners
This is perfect if you have steady income and good credit.
- Fixed rates with terms of 10, 15, 20, or 30 years
- Borrow between $50,000 and $500,000
- Use up to 85% of your home’s value
- Minimum credit score: 680
- Works on primary and second homes
- No mortgage insurance required
- Simple income documentation (only one year needed)
This option gives you predictability and peace of mind.
Flexible Non-QM Second Mortgage Solutions
- Loan amounts up to $500,000, with up to $4 million total across both loans
- Use up to 90% of your home’s value
- Income options include:
- Bank statements
- 1099s
- Asset-based income
- Employment verification only
- Available for:
- Primary homes
- Vacation homes
- Rental properties
- Investor loans allowed — even without personal income (DSCR)
- Foreign nationals welcome
This option is great if you’re self-employed or investing in real estate.
Properties Eligible for Second Mortgages
- Single-family homes
- Townhomes and condos
- Two-unit homes (for primary residences only with fixed-rate option)
- Properties held in an LLC (Non-QM option only)
Compare Fixed and Non-QM Second Mortgage Options
| Feature | Fixed-Rate Option | Flexible (Non-QM) Option |
|---|---|---|
| Max Home Value Used | Up to 85% | Up to 90% |
| Loan Size | $50K–$500K | $50K–$500K (up to $4M total) |
| Minimum Credit Score | 680–720 | 680 (more flexible) |
| Property Types | Home or vacation home | Home, vacation, or investment |
| Income Proof Needed | W-2 or tax returns | Bank statements or assets |
| Foreign Nationals Allowed | ? | ? |
| Prepayment Penalty | ? None | ? None (unless investment) |
When to Use a Second Mortgage Option
- Home repairs or upgrades
- Paying off high-interest debt
- Funding new investments
- Preserving a low rate on your first mortgage
You get the flexibility to move forward—without starting over.
https://www.fanniemae.com/education/consumer/understanding-second-mortgages
| Get Help Choosing the Right Second Mortgage Option |
| We’ll help you figure out which path is best for your goals. |
Contact Buccaneer Mortgage Today
? Call us at 561-312-7777
? Or schedule your free equity review today.
