Closed End Second Mortgage

Loans up to $750,000 with a minimum of $100,000
Rates are 30-year fixed, 20-year fixed, 15-year, or 10-year fixed
Cash-out or rate-term refinance
Qualify using bank statements or full doc
Owner-occupied, second homes, and investment properties
SFR, Townhomes, 2-Unit, and Warrantable Condominiums
Up to 50% DTI
Owner occupied program is not available in TX‍
Program not available in TN

Angel Oak’s Closed End Second Loans program enables borrowers to tap into their home’s equity while retaining their first mortgage. Our Stand-Alone Closed End Second Lien product is designed for self-employed borrowers and real estate investors who can qualify using 12-24 months of personal or business bank statements. With this product, borrowers receive a lump-sum payment & there are no restrictions on how borrowers can use the funds.

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Product FAQ

General FAQ

What is a Closed End Second Mortgage?

A closed-end second mortgage loan (or CES loan) is a second mortgage that allows you to tap into your home equity without affecting the rate on your first mortgage. A “closed-end” second mortgage means you’ll receive the entire loan amount in one lump sum and won’t be able to withdraw any more cash after you receive the loan.

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Angel Oak Mortgage Solutions LLC – NMLS ID #1160240 (NMLS Consumer Access). Corporate Address: 980 Hammond Drive, Suite 850, Atlanta, GA 30328. Licensed in AL #21875, AZ #0926930, AK #110480, Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act License #4131346. Loans made or arranged pursuant to a California Financing Law License CFL License #60DBO-71208, CO Regulated by the Division of Real Estate, CT #ML-1160240, CT #MS-1160240, DE #019971, DC #MLB1160240, FL #MLD1156, GA #41747, HI #HI-1160240, HI #MS231, ID #MBL-2081160240, IL Residential Mortgage Licensee # MB.6761065, IN #24466, IA #2014-0070, KS #MC.0025339, KY #MC292246, LA, ME #1160240, MD #1160240, MI #FL0020868, MI #SR0020869, MN #MN-MO-1160240, MS #1160240, MO #1160240, MT #1160240, NE, NV #4450, NV #4597, NH #22446-MB, Licensed by the N.J. Department of Banking and Insurance, NM, NC #L-163234, ND#MB103396, OH #RM.501891.000, OK #ML011190, OR #ML-5316, OR #MS-19, PA #56598,RI #20173431LL, RI #20224352LS, SC #MLS-1160240, SD #1160240.ML, TN #118878, TN #163131, TX, UT, VA #MC-5830, WA #CL-1160240, WV #ML-36451, WI #1160240BA, WY#3229, WY #CL-4863.