| Email us or better yet, just give us a call! 1-877-788-0011 |
What is a Second Mortgage?Second Mortgages: Individuals may have a very low interest rate on the first mortgage. I have a property in Tennessee worth $180,000 and I owe $112,000. I dont want to touch my first mortgage cause I have such a good rate. So I want to pull a loan on a second mortgage to keep my first mortgage intact.We offer second home equity loans of credit up to 100% of the equity of your property. Equity is the increased value above the amount that you owe. If you purchased a home in 2000 for $100,000, and in five years its worth is $120,000, your equity is $20,000.
HELOC Home Equity Line of Credit. This is the line of credit you are applying for based on the available equity of your home property.
|