Closed-End Second Mortgages & HELOCs Up to 90% CLTV
Access your home's equity without disturbing your existing first mortgage — ideal for Colorado borrowers locked into a low rate who still need cash. No tax returns required.
Why a Closed-End Second Mortgage Makes Sense
Get cash out without refinancing your first mortgage · Lower your down payment on a purchase when paired with a first lien · Fund home improvements, renovations, college expenses, or medical bills · No reserves required · Keep your existing low interest rate
Program Highlights
- Purchase, Rate/Term & Cash-Out refinance available
- Standalone or piggyback (simultaneous) closing
- Investment properties eligible
- Properties with solar liens eligible
- AVM in lieu of appraisal for loans ≤ $400K
- No prepayment penalty (except DSCR)
- No reserves required
- 1-yr self-employed OK w/ 12-mo bank statements
Loan Terms & Property Types
- Fixed terms: 10, 15, 20 & 30-year
- Balloon: 30/15 & 40/15
- Fully amortizing
- Occupancy: Primary, second home & investment
- Property: SFR, PUD, townhouse, 2–4 units, condos, ADUs
- Max $5M combined first and second
Accepted Documentation Types — No Tax Returns Required
Frequently Asked Questions
What is a closed-end second mortgage?
A closed-end second mortgage is a fixed lump-sum loan secured against your home equity, taken in addition to your existing first mortgage. It lets you access cash without refinancing — preserving your current low rate — with fixed payments over 10, 15, 20, or 30 years.
What is the maximum CLTV for a second mortgage in Colorado?
RCastle Mortgage offers second mortgages and HELOCs up to 90% Combined Loan-to-Value (CLTV) in Colorado. Loan amounts go up to $850,000 with a combined first and second cap of $5 million.
Do I need tax returns to get a second mortgage?
No tax returns are required. We offer alternative documentation options including 12 or 24-month bank statements, 1099-only, P&L, DSCR investor cash flow, asset depletion, and WVOE — ideal for self-employed borrowers and real estate investors in Colorado.
What credit score do I need for a second mortgage?
The minimum FICO score is 640. Some alt-doc programs require a minimum of 660. No reserves are required to qualify.
Can investors use a second mortgage on a rental property in Colorado?
Yes. Investment properties are eligible using DSCR documentation. Primary residences, second homes, and investment properties all qualify — including SFR, 2–4 units, condos, and ADUs.