Piggyback Second Lien Program

Lower Down Payments without Mortgage Insurance

Serve borrowers who want to put less than 20% down on their property and not pay mortgage insurance with the Piggyback Second Lien. Paired with Change’s Community Mortgage or Investor first mortgage, this fixed-rate, 30-year-term loan offers quick qualifying based on common-sense underwriting and reduces the equity out of pocket that the borrower must use for their primary residence, second home, or investment property purchase.

Download our Program Guide to learn more.


  • Second loans up to $500K
  • CLTV up to 85%
  • Debt-to-Income not calculated
  • Qualify based on LTV, FICO, and reserves
  • Income documentation not required
  • Income not stated
  • Second loan must close at the same time the first loan is closed with Change Wholesale
  • Interest-only for the first 10 years; fully amortized over remaining 20 years
  • FICO beginning at 680

The Piggyback Second Lien is ideal for borrowers securing a first lien with the Community Mortgage or Investor program who want to qualify using LTV, FICO, and reserves, preserve equity, or pay a lower down payment (but not have to pay for mortgage insurance) on their property purchase.