Subordinate Financing

HomeStart also offers a compliment to its sister company’s mortgage offerings by providing second, third or even fourth position mortgages on primary residences, second homes and even investment properties!
These subordinate mortgages include purchase seconds, home equity seconds, home improvement seconds and thirds (or even fourths) as well as simple refinance and cash out second mortgages for all occupancy types!
Subordinate mortgages done through the consultancy are handled under our Third Party Origination (TPO) agreements with numerous banks and wholesalers. These TPO channels allow HomeStart to provide wholesale rates and charge separately* instead of including charges at closing and absorbing costs by increasing interest rates.
Doing a second, third or fourth mortgage with HomeStart through its TPO relationships is just like working with MPS and it costs you the exact same standard fee*. We provide full service mortgage origination and guide you through the process with superior care and respect.
Subordinate mortgages through HomeStart’s TPO relationship can accommodate:

• Purchase mortgages

• Refinance mortgages

• Cash Out (one lump payout) mortgages

• Cash Out Home Equity Lines of Credit (HELOC – revolving line of credit)

• Home Improvement Loans (2^nd, 3^rd or 4^th liens – all funds go to contractor)

• Primary Residences - Purchase (2^nds only), Refinances, Home Improvement and Cash Out mortgages

• Second Homes - Purchase (2^nds only), Refinances, Home Improvement and Cash Out mortgages

• Investment Properties - Purchase (2^nds only), Refinances, Home Improvement and Cash Out mortgages