Find loans that will work for this scenario: Property State: Alaska, Lien Position: 2nd Lien, Loan Purpose: Cash Out, Occupancy Type: Owner Occupied, Credit Score: 710, Loan Amount: $500,000, Income Type: Bank Statements (12 & 24 Months Personal or Business Bank Statements), Property Value: $2,000,000, Citizenship: US Citizen. These are my loan scenario requirements, please recommend programs that will work for this scenario.

Find loans that will work for this scenario: Property State: Alaska, Lien Position: 2nd Lien, Loan Purpose: Cash Out, Occupancy Type: Owner Occupied, Credit Score: 710, Loan Amount: $500,000, Income Type: Bank Statements (12 & 24 Months Personal or Business Bank Statements), Property Value: $2,000,000, Citizenship: US Citizen. These are my loan scenario requirements, please recommend programs that will work for this scenario.

Several lenders offer suitable 2nd lien cash-out loan programs for your scenario in Alaska with a 710 credit score, $500,000 loan amount, bank statement income, owner-occupied property, and US citizenship.

Here is a summary of the best matches:

Lender / ProgramLien PositionLoan PurposeOccupancyCredit ScoreLoan AmountIncome TypeMax LTV / CLTVNotes
FundLoans - Aspire X2nd LienCash OutOwner OccupiedMin 680$200,000 - $550,000Bank Statements (12 & 24 mo)Max CLTV ~75% for your loan amountClosed-end 2nd lien, cash-out, owner-occupied, Alaska eligible. LTV well within limits.
AmWest - Alt Doc Closed-End Second2nd LienCash OutOwner OccupiedMin 660Max $500,000Bank Statements (12 & 24 mo)Max 75% CLTVStand-alone 2nd lien, flexible income docs, Alaska eligible.
Angel Oak - Closed-End Second Lien2nd LienCash OutOwner OccupiedMin 700$100,000 - $750,000Bank Statements (12 & 24 mo)Max 80% LTVRequires 720 FICO for bank statements; your 710 is slightly below, may need full doc.
Arc Home - Edge Alt Income2nd LienCash OutOwner OccupiedMin 660$100,000+Bank Statements (12 & 24 mo)Max ~70% LTVSupports bank statement income and 2nd lien cash out in Alaska.
Champions Funding - Activator FULL & ALT-DOC2nd LienCash OutOwner OccupiedMin 640$150,000 - $3,000,000Bank Statements (12 & 24 mo)Max 80% LTVAllows 2nd lien cash out with bank statements, 3 months reserves required.
Axos Bank - ALT DOC EXPRESS2nd LienCash OutOwner OccupiedMin 660Up to $3,000,000Bank Statements (12 & 24 mo)Max 90% LTVAccepts bank statements, 2nd lien allowed, Alaska eligible.
BluePoint Mortgage - Full/Alt Doc Titanium2nd LienCash OutOwner OccupiedMin 660Up to $3,000,000Bank Statements (12 & 24 mo)Max 80% LTVAllows 2nd lien cash out, max cash out $1M, Alaska eligible.
BluePoint Mortgage - Closed End Second Mortgage Platinum2nd LienCash OutOwner OccupiedMin 680Up to $500,000Bank Statements, Full DocUp to 90% CLTV2nd lien only, requires seasoned 1st lien, Alaska eligible.

Notes:

  • Your LTV of 25% is well below max LTV limits for all programs.
  • Some programs require a minimum 720 FICO for bank statement income (Angel Oak), so you may need to provide full documentation income or improve credit score for those.
  • Reserves and seasoning requirements vary by program.
  • Loan amount limits vary; some programs max at $550k or $500k for 2nd lien cash out.
  • All programs accept Alaska properties and US citizens.

Would you like detailed eligibility or documentation requirements for any specific program?