Certified Funding, L.P. : 2nd Lien Specialists
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Home Improvement Calculator
This calculator can help determine your Combined Loan-to-Value Ratio (CLTV Ratio), but does not constitute a final approval. Rates and fees are subject to change. Other underwriting factors may apply. 2nd liens only.

Current Value of Home: $
Value of Pool/Improvements Being Made:
Must be pool, major remodel, or square footage to add back value (if not, leave blank)
$
Total Value to be used:
1st Lien Balance: $
New Requested 2nd Lien:
Includes payoff of any subordinate liens on title plus improvements being financed
$
Liens Total:
CLTV Calculation:

Sample Rates for Home Improvement Loans
For 700+ scores on the lowest scoring borrower and a max debt ratio of 45%. Other underwriting factors may apply. Second liens only. Maximum loan amount $150,000. Minimum loan amount $10,000. Rates and fees are subject to change.

15 Year
Rate
20 Year or
30/15 Balloon Rate
Up to 90% CLTV 5.25%5.50%
90.1 to 95% CLTV 5.99%6.25%
95.01 to 125% CLTV 6.99%7.25%
Add 0.5% to rate for credit scores of 660-699
Add 0.5% to rate for a previous bankruptcy (must be discharged a minimum of 5 years)
Add 0.5% to rate if either borrower is on a work visa

Examples
The payment on a $75,000 2nd lien with a 15 year fixed rate loan at 5.25% and a 90% CLTV is $602.91. The Annual Percentage Rate is 5.3842%.

The payment on a $75,000 2nd lien with a 20 year fixed rate loan at 6.25% and a 95% CLTV is $548.20. The Annual Percentage Rate is 6.3601%.

The payment on a $75,000 2nd lien with a 30/15 fixed rate balloon loan at 7.25% and a 125% CLTV is $511.63. The Annual Percentage Rate is 7.355%. The balloon payment after 179 payments would be $56,559.51

Home Improvement Loan Application »
Click here to complete your online loan application, or call our office at 972-248-0200.


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