Private 1st and 2nd Mortgages | Flexible Business Funding
Secure private 1st and 2nd mortgages with LoansOne for business or property needs. Fast approvals, competitive rates, and flexible terms tailored for you.
What Are 1st and 2nd Mortgages? 🏠
First and second mortgages are secured loans where your property acts as collateral. First mortgages typically offer lower interest rates compared to other loan types, such as caveat loans. Second mortgages, while riskier for lenders, provide additional funding by using the same asset as security, sitting behind the first mortgage in repayment priority.
How Do 1st and 2nd Mortgages Work?
- Apply online in just 60 seconds
- Our team contacts you to discuss your loan needs
- If approved, we issue Conditional Approval
- Upon signing, due diligence is conducted, and loan contracts are issued
- Once signed, funds are transferred directly to your account
Key Differences Between 1st and 2nd Mortgages
The primary distinction lies in repayment priority:
- 1st Mortgage: The lender holds the first right to the asset in case of default. Offers lower interest rates and is less risky.
- 2nd Mortgage: Secondary rights to the asset, with higher interest rates due to increased risk. Requires permission from the first mortgage lender.
Common Uses for 1st and 2nd Mortgages
- Property Development: Secure funding for developing townhouses, residential complexes, or other assets. Often repaid using pre-sale funds during construction.
- Business Growth: Expand operations, purchase new equipment, or invest in new premises.
- Franchise Purchases: Fund the acquisition of a new business or franchise opportunity.
Eligibility Criteria
To qualify for a first or second mortgage, you must:
- Be a permanent resident or citizen of Australia
- Be at least 18 years old
- Own real estate (e.g., house, unit, apartment, vacant land, commercial property)
Find the perfect loan for you
with no impact on your credit score
Frequently Asked Questions
What information will I need to provide when applying for a first mortgage?
You'll need proof of property ownership, identification, and details about your loan requirements.
What are the qualification requirements for a first mortgage?
You must own real estate, be over 18, and be a permanent resident or citizen of Australia.
How do I apply for a first mortgage loan?
Complete our quick online application and our team will guide you through the process.
Do I need great credit to get a first mortgage?
No, LoansOne considers applications regardless of credit history.
What does 1st mortgage security mean?
It means the lender has the first claim on your property in case of loan default.
Get Started With a 1st or 2nd Mortgage Today!
Apply now for private 1st or 2nd mortgage funding and access tailored financial solutions for your business or property needs.
Apply Now