Purchase Money Seconds
Learn how buyers, builders, agents, and lenders can benefit from purchase money second loans.
Learn more about our current real estate and mortgage deals for first-time and repeat homebuyers.
Use a PM2 to
Your Advantage
A purchase money second, or “PM2”, is a second mortgage that may be used to supplement or cover the down payment. PM2s offer buyers, builders, and lenders a great alternative to private mortgage insurance or excessive down payments.
For Buyers
Use a PM2 to cover the cost of the down payment. You’ll avoid private mortgage insurance and free up cash for moving, new furniture, and renovations.
For Builders
Want to give buyers options right out of the gate? Use a purchase money second to attract real estate agents and their clients who prefer new builds but want to keep some cash free.
For Agents and Lenders
Got a client whose equity is tied up in another property? Help them leverage a purchase money second to free up their next move.
Learn More About PM2s
On paper, the idea of two mortgages can be intimidating or seem too complex to work for you. But in reality, this second mortgage is simply an additional loan that covers part or all of your down payment. PM2s are designed with your total property value and mortgage payment in mind, and the loan will close simultaneously with the first mortgage loan for your new home.
FAQs
Learn more about purchase money second loans at Amplify.
Can I add a PM2 to a non-Amplify mortgage?
What parts of Texas does Amplify serve?
What mortgage fees does Amplify charge?
Home loans made easy
Send us a message and an Amplify Mortgage Lending Specialist will reach out within 1 business day to further assist you. You can also get started with our easy and secure online application.
