First mortgages
Primary-position financing supported by property value and full underwriting.
First, Second and Third Mortgages
Every lien position
requires a clear plan.
Property-secured financing evaluated according to collateral value, prior obligations, lien position and repayment capacity.
Private finance companyDirect evaluationUnited States and Canada
Lien-position financing
The structure changes as priority moves behind existing debt.
A first mortgage generally holds the primary registered position. Second and third mortgages are subordinate to prior registered obligations and require careful analysis of remaining equity, payment capacity and risk. Tapstone considers each request on its complete property and borrower profile.
How the program is considered
A complete view of the transaction.
Second mortgages
Subordinate financing evaluated against the first mortgage and available equity.
Third mortgages
Select opportunities reviewed with heightened focus on equity, priority and exit.
What we review
Good decisions begin with verified information.
Requirements vary by program and jurisdiction. These are the primary areas considered during an initial review.
- 01Current appraisal and property marketability
- 02Balances and status of every prior lien
- 03Combined loan-to-value and available equity
- 04Demonstrated repayment or exit strategy
The Tapstone process
Clear steps. Documented terms.
- 01
Map the obligations
Identify every mortgage, tax balance, judgment and registered interest.
- 02
Confirm remaining equity
Review value, priority, requested amount and transaction costs.
- 03
Structure by position
Approved terms reflect lien position, risk, term and repayment plan.
A direct first conversation
Bring us the asset and the objective.
Tell us what you own or are purchasing, how much capital is required and when it is needed.