Everything You Need to Know About Second Mortgage Loans
Second mortgages are a type of loan that are secured by the equity in a property. This means that
the loan is secured by the value of the property above and beyond any outstanding first mortgages
or liens. In the commercial real estate space, second mortgages are often used to finance a variety
of different types of projects, including the acquisition of new properties, the renovation of existing
properties, and the refinancing of existing loans.
One of the key benefits of using a second mortgage to finance a commercial real estate project is it
allows borrowers to take on additional leverage on new purchases or it allows property owners to
access additional capital locked in the project on a refinance.
It’s important to note that second mortgages are not without their risks. Because the loan is secured
by the equity in the property or a lien against the property, the lender has the right to foreclose on
the property if the borrower defaults on the loan. This means that property owners who take out
second mortgages need to be careful to ensure that they are able to make their payments on time
and in full.
Overall, second mortgages can be a useful tool for commercial real estate investors who are looking
to access additional capital or additional leverage. By carefully considering the potential risks and
rewards, investors can determine whether a second mortgage is the right financing option for their
specific needs.
Private Money Lender – Related posts
Gelt Financial, LLC just closed a commercial mortgage with a 30-year amortization. This borrower was unable to obtain traditional bank financing because of a personal IRS tax lien, With the [...]
Gelt Financial has provided a First Mortgage on a Single Family Investment Property in Boise, ID. "Gelt is flexible with how we structure deals and that gives us a real [...]
Gelt Financial, LLC approved a “DIP” Debtor in Possession first mortgage on a health care facility in New England. Over the years Gelt has developed a specialty in helping owners [...]
Benefits of using a joint venture equity partner to buy real estate: Using a joint venture equity partner can provide several benefits for real estate investors. Here are some of [...]
TRIPLE-NET DEAL CLOSED IN ALABAMA, OHIO, AND TEXAS! Gelt Financial is excited to announce we just closed on a $500K Mezzanine Loan on an NNN Portfolio in Alabama, Ohio, [...]
As a borrower, you may be curious about your options in securing a loan for your commercial mortgage, to grow your real estate investments, and to fund your projects [...]
Just closed commercial mortgage, Purchase of a owners occupied day care in Florida, credit below 630, 25 year term, no balloon……….. We are always here to help our clients.
Gelt Financial's Vice President Noah Miller will be a featured panelist next week at the 6th Annual NPL, Notes & Default Servicing Forum (East) in Orlando on Monday, March 20. [...]
This borrower’s seller-financed mortgage came due to his commercial condo space. Gelt Financial, LLC was able to assist the borrower in refinancing his commercial property from which he runs his [...]
Just Closed! We just funded a $240K cash-out refinance for two single-family homes in Marmora and Westville, New Jersey! This deal was a blanket mortgage with a 43% LTV — a solid, low-leverage, collateral-based loan. [...]
Another deal done! 👊 Gelt Financial just closed on a $400k mezzanine loan on a multifamily building in Tampa, FL. To learn more about Gelt Financial’s lending capabilities and [...]
Just Closed in Willingboro, NJ! Gelt Financial just funded a $670K refinance for a unique project—a former bank being converted into a cannabis dispensary. Traditional banks wouldn’t touch the deal [...]
Whether you’re a one or two-person shop or a large, correspondent lender that lends across the state or across the country, you know there are times when you get a [...]
We offer no income verification mortgages on commercial and residential investment properties, 30 year amortizations with no balloons, loans up to 5 Million.
Gelt Financial president H. Jack Miller was recently featured as a real estate expert in the feature “What Happens to My Mortgage If My Lender Goes Bankrupt?” on U.S. News [...]
Gelt Financial was able to arrange to finance for the hard-working owners of a business and commercial real estate a sports retailer using their commercial real estate as collateral [...]
Are you wondering about what your options are for commercial mortgages? The good news is that you aren’t limited—you’ll come to discover the terminology of hard [...]
Closed Loan, Gelt was able to assist this borrower obtain financing for her vacant Single-Family investment property in upstate NY. The property has been vacant for some while and with [...]
Gelt Financial president H. Jack Miller was recently featured as a real estate expert in the Benzinga article "How Many Months of Bank Statements for a Mortgage Are Needed?" [...]
Closed loan- We were able to help this borrower obtain a cash-out refinance on his mixed-use building in Philadelphia PA. The borrower was able to pay off his higher interest [...]
As prices in several markets dip for the year 2019, a lot of people are reminded about companies going bankrupt. Consumers are not the only ones affected by this - [...]
There’s something about non-bank commercial lenders that’s got everyone jumping for joy in the financial world, but what gives—why are these lenders in such hot demand🔥 as opposed to [...]
When you think about hard money loans, unconsciously, your brain pops out a photo of shady lenders who do business in alleys or in pseudo-offices with a hidden agenda [...]
JUST CLOSED IN BOCA RATON, FLORIDA! Gelt Financial just closed on a $250K Second Mortgage in Boca Raton, FL. Using DIP financing, also known as Debtor In Possession Financing, [...]
In this video, H. Jack Miller shares common mistakes he has seen people make in real estate investing, especially with fix-and-flip projects. To succeed, you need to excel in three key [...]
Marcy and Jack at Gelt Financial, LLC, nonbank commercial portfolio lenders, talk about the best way for a mortgage broker to submit and close a deal. Gelt offers financing to real estate [...]
Gelt Financial closes a cash out, mixed use, no income verification mortgage in Indianapolis, IN. "Marcy: Hi. Jack: Hi, this is Jack and Marcy at Gelt. Marcy: How are you? Jack: [...]
Charlotte, NC Residential Investment Property-Vacant, No income Verification or qualification, No seasoning, no appraisal same day approval; and 6 day closing.
Networking is a great source of business for mortgage brokers, Jack and Marcy at Gelt talk a little about it. "Jack: Okay, Marcy. So, like our YouTube channel or wherever you're [...]
Gelt is excited to provide first mortgage financing for an owner of a business who purchased a home for his employee's to live in. The buyer owned several restaurant business with [...]
Gelt just provided a experienced real estate investors and repeat borrower of Gelt's financing on land in Miami, Florida that's zoned for 9 units. "Jack: We're on. Marcy: Hi, how are [...]
1st Mortgage Bridge Loan on a credit tenant Walgreens in Staten Island, NY on a ground lease. No appraisal, No Environmental, very fast approval and closing, No personal information and qualification [...]
Another deal closed! Gelt Financial discusses their recent closed loan on a 400k second mortgage in Tampa, FL. No appraisal, 85% debt. Interest only, short term, six month deal. We focused [...]
Jack and Marcy talk about a 50k first mortgage Gelt Financial just closed on a Multi family property, There is almost no where for borrowers who want to borrower small amount [...]
Gelt is now lending on Cannabis properties."Marcy: Hi, it's Marcy.Mario: It's Mario.Jack: It's Jack from Gelt Financial.Marcy: We're doing a shoutout today for cannabis.Mario: Oh, yay, cannabis. So, we're now supporting all [...]
We just provided with a experienced investors 4.3 Million bridge Mortgage on 3 credit tenant deals as part of a 1031 Transaction. This borrower will refinance with a bank, but a [...]
In Bridge Loans by Gelt Financial | Commercial Bridge Loans - Explained the video discusses bridge financing, which is a short-term loan used for two purposes: to make money, such as [...]
In the video, Jack shares an interesting story about closing a 100% loan-to-value deal on land in Ohio. Despite not typically offering land loans, Gelt made an exception due to the [...]
Gelt Financial just closed a fast and easy mortgage for a cannabis retail property in New Jersey. If you’re looking for reliable financing for your cannabis real estate investment, we’ve got [...]
Gelt Financial loves providing Real Estate Investors and Small Business owners the small balance mortgage financing they need. We Finance Cannabis Retail locations, contact us to learn more. [...]
Paul talks about a first mortage Gelt provided for a Jack in the Box in Texas. A CRE investor secured this deal with a credit tenant, NNN lease, and 1031 financing [...]
Gelt Financial focuses on Small Balance- Business Purpose, Investment and Commercial Private Mortgages. We love loans under 1 Million. Private Lending without any red tape and log delays of banks. Gelt [...]
Washington DC, Investment real estate 2 unit 1st Mortgage Bridge Loan cash out refi, No income verification foreclosure bail out. Fast approval and Closing. When your bank says No, we say [...]
Markets are always changing and moving in order to survive Mortgage brokers need to pivot to what they can close and make money with. Condominium Association loans is an excellent way [...]
Jack Miller and Marcy closed a very quick closing in Florida for a real estate investor on a single family investment property."Marcy: Hi Jack.Jack: Hey Marcy, how you doing? Our first video [...]
Gelt Financial provided a purchase mortgage first mortgage on Mixed Use Property in Brooklyn New York. No income qualification When your bank says No, we say Yes. "Marcy: Hi, all right. [...]
First Mortgage Commercial Mortgages on an owner occupied restaurant in Illinois. No income verification. "Video Title: First Mortgage Financing on Owner Occupied Restaurant in Illinois Speaker: Jack Miller and Marcy Berger [...]
We buy commercial real estate debt. That includes Performing, Non-Performing, and Sub-Performing commercial debt. Jack Miller goes over the types of commercial debt that Gelt Financial buys. Gelt has been helping [...]