Yes, our mortgage company works with a lender that will allow a stand alone second mortgage. If you have $140,000 to put down, your total financed would be $459,000. Your first mortgage could be for $417,000 to remain within the conventional limits. The second mortgage could be for $42,000. This would be the stand alone second mortgage. The minimum credit score requirments for this program are 700 and all properties financed under this program must be owner occupied.
Feel free to contact me for more information. Jennifer Barone. Executive Mortgage Banker. William Raveis Mortgage. NMLS # 700093. 860 227 4688.