Stated Second Trust Deed Loans

We offer a Stated Income Second Deed of Trust Loan. This is a loan that goes behind a first trust deed. We do not have any credit fico requirements for our Stated Second Trust Deed Loans. We do not require any tax returns. Usually the cumulative loan to value CLTV can not be more than 70%. Our Stated Income 2nd Trust Deed loans can be used for residential and commercial properties.

A second deed of trust can be a home equity loan or a second mortgage provided a second bank or even the homeowner selling the house. A second deed of trust simply means that another deed was given out, after the first, to secure the second loan with the equity in the house. Much like a first deed of trust, the second deed of trust is a promissory note that requires monthly payments and accrues interest. The significant difference between a mortgage and deed of trust is that with a deed of trust, the house can be foreclosed without permission from a court. A second deed of trust is a deed that is second in priority to a first deed of trust. California is a deed of trust state. A deed of trust is similar to a mortgage, allowing a borrower to secure a loan to buy a house by using the house as collateral. The difference is that in a mortgage there are two parties involved – the borrower and the lender — while in a trust deed there are three parties involved – the borrower, the lender and a trustee.

To find out more see our “Hot Loan Products” for rates and guidelines.