Is the Cross Collateral loan right for you?
Perfect for borrowers that have high equity in their current home and are looking to make a non-contingent offer on a new purchase. Use your equity as collateral on your new purchase, without having to sell first or come out-of-pocket with a cash down payment.
Benefits of a Cross Collateral loan
- Don’t need to sell your current home to access the trapped equity that you need for the down payment on the new home you want to purchase.
- Don’t have to count the mortgage payment on the departure residence in the debt ratio calculation. Makes it easy to qualify.
- Now you can make a non-contingent offer.
- No time limit for selling current departure residence.
- 30-year & 15-year fixed rate terms available.
Cross Collateral loan eligibility requirements
- 640 min FICO score.
- Max debt to income of 43%
- Allows up to a max combined loan to value (CLTV) of 75%. Based on “both” property’s appraised values.
- Loan amounts up to $3 million (max 60% CLTV)
Get started by using one of our FREE tools!
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We don’t hide our rates because it’s so rare we ever get beat! Once you’re ready to get started, go ahead and apply now or get a pre-qualification letter.
Free PreQualification Letter
(You’ll need this to make offers on homes!)
- Makes your offer to buy a home stronger
- Let home sellers know you’re serious
- Helps you know your affordable price range
