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Closed End Second Mortgage

  • Loans up to $750,000 with a minimum of $75,000
  • Rates are 30-year fixed, 20-year fixed, 15-year, or 10-year fixed
  • Cash-out or rate-term refinance
  • Owner-occupied, second homes, and non-owner occupied
  • SFR, Townhomes, 2-Unit, and Warrantable Condominiums
  • Bank Statements (Business 12 or 24 months of statements)
    • Minimum score 720
  • Full Doc (1 or 2 yrs. Tax Returns or W-2’s w/ YTD Pay Stubs or Profit and Loss)
    • Minimum score 700
  • Up to 50% DTI
  • Owner occupied program is not available in TX
  • Program only allowed on investment properties in TN

Min Fico


(Up to 80% CLTV)



(Minimum 740 FICO)

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

Blended Rate Calculator

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What is the benefit to originators who use non-QM loan products?

Originators who utilize non-QM offer a service that their competition may not offer. They become an expert and go-to for the non-QM borrower. The benefit is increased referrals and business growth despite changes in the market. Continue to increase your volume each year regardless of fluctuating interest rates, tighter Agency guidelines, and a slowing refinance market.

Additional Program Options


Bank Statement Questionnaire

Our bank statement questionnaire collects some basic information on your financial history and expenses. This information will be used to help assess financial stability.

Download Questionnaire

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