Below you will find important terms and disclosures. At Second Act Financial Services, we value integrity, transparency, and service to our nation’s seniors and all who look after them.  We encourage all of you to review these disclosures because they are important.  We have created this page in order to share this important information with you in regular size font and in a clear and easy way to read.

The Payment Calculator will display data and results for a variety of information, including but not limited to Annual Percentage Rates (APRs), line of credit amounts, fees, etc., but note that not all loan terms and guidelines are available within the calculator or the advertising disclosures. Estimated fees are imposed by the bank to open the HELOC but may not include any mortgage and government taxes or recording fees.  Please see below for more information and contact us so we may provide you with additional details and information about our products.

You are invited to apply for a HELOC Bridge loan.  Your receipt of this material does not mean you have been prequalified or preapproved for any product or service that we offer.  This is not a commitment to lend; you must submit a loan application and additional information for review and approval.  Rate(s) and APR(s) are subject to change without notice.  The sample rates, APRs, and monthly payments displayed are valid as of 2/28/2022.

The variable APR, fees, and payment amount shown are based on the information you provided and are for illustrative purposes only.  Sample APRs and monthly payments assume a new HELOC Bridge loan on an owner-occupied single family detached primary residence, a borrower with excellent credit, and combined loan to value (CLTV) ratio based upon information you provided.

The APR is based on the The Wall Street Journal Prime Rate plus a margin and will vary with the Prime Rate.  Your APR will not exceed 5% above your initial rate or go below your initial rate at any time during the term of your loan.  The term of the HELOC Bridge loan is 30 years: 5-year draw period, 25-year repayment period.  During the draw period your variable-rate monthly payment will be an amount sufficient to repay the interest only during the monthly billing cycle; during the repayment period your variable-rate monthly payment will be an amount sufficient to repay the outstanding balance of principal and interest over the remaining term at the applicable APR.  Available rate, margin and payment amount may vary based on actual CLTV, credit, loan amount and other factors.

Property insurance is always required and flood insurance is required where necessary.  To obtain a HELOC Bridge loan, a security interest will be taken on borrower’s owner-occupied primary residence as collateral.  Certain property types are not eligible collateral.

Home Equity Loans and Lines of Credity may be tax deductible.  We encourage you to speak with your local tax advisor or CPA as to whether the interest and fees on this loan may be tax deductible.  We do not provide tax advice as a lender but we simply wanted you to be aware of the possibility for you to discuss with your advisors for your personal situation.

We are more competitive because we are backed by a Federal Savings Bank.

How can we lend at such significantly lower rates? The answer is quite simple.  Second Act Financial Services is a senior-focused Division of a bank, Liberty Savings Bank. 

Other companies borrow capital from a bank, add their markup, then mark it up one more time to the consumer.  This latter way consumers pay a middle man and pay doubly. By dealing directly with a bank, consumers and providers eliminate the middle-man.  Second Act is federally licensed as a Division of Liberty Federal Savings Bank.  So we save the expense of inefficient and costly capital, we save on state to state licensing, enabling us to pass on those savings to you!

Our Rates vs Others.

Utilize our short-form calculator below, or experiment with our more detailed Payment Calculator selection on our Menu.  Write Down what Second Act’s total costs will be for bridge financing to your residents. Compare us to others.  Then give us a call so we can start saving you and your residents, significant dollars.