Loans

Second Federal has developed a market niche catering to residential real estate investors.  Whether you are starting out with your first property or have a large portfolio, Second Federal can provide the personal attention and service you want and deserve. 

Some of the benefits of working with Second Federal are:

• Local decision making
• Fast turnaround times (typically 30 days or less when needed)
• Flexible terms
• No bank deposit accounts required
• Low fees

Other helpful information for investors in making their decision to choose Second Federal as your preferred mortgage lender:

• Loans can be in the name of an individual or an LLC. All mortgages in the name of an LLC require the personal guarantee of each LLC member. 
• Short-term lending can be interest only.
• Adjustable-rate loans are fixed for five years, then reset every five years thereafter.
• Most loan terms amortize over 25 years.
• Renovation loans have the option of converting to permanent financing.
• We do not have sales goals so we are only interested in doing the right thing for our customers in our desire to operate a safe and sound financial institution.

We offer mortgages to suit the needs of real estate investors:

• Single Family (1-4)
• Mixed Use
• Multi-Family (5+ units)
• Commercial
• Construction (Renovation only)

From our customers, we do require the following:

• At application, complete individual and corporate financial information for the previous two years including all tax returns.
• Annually, updated financial information, rent rolls and current tax filings.

We invite your inquiry as to how we may help you.