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Fixed Rate Second Mortgage                                                                                                                             

Fixed rate second mortgage products have a fixed interest rate determined at application and allow you to take out of a property. Interest only Fixed Rate Second Mortgage products will lower your payment. For difficult to verify income, stated income Fixed Rate Second Mortgage products are available. Fixed Rate Second Mortgage products with no closing costs areavailable as well. Fixed rate second mortgage products are available for your home, vacation home, or investment property. As always, please feel free to email me with any specific questions on fixed rate second mortgage products.

A major advantage of fixed rate home second mortgage products are that your interest costs are generally tax deductible. A comparison between the after tax costs of a fixed rate second mortgage and any consumer loan should be done before any major purchase. Please give me a call if you need help with the calculation.

With fixed rate second mortgage products, we can lend up to 100% of the value of your home but understand that the fixed rate second mortgage interest rate will be somewhat higher if your fixed rate home equity loan is over 90%(combined first trust and home equity loan) of the value of the property. We will allow up to a 50% Debt to Income ratio (DTI) with good credit. Please see the link below for more information on qualification ratios.

Common uses of a Fixed Rate Second Mortgage

  • Debt Consolidation Fixed Rate Second Mortgage. If your consumer debt is too much you may dramatically reduce your monthly payments. See the calculator below for an idea of how much you could save.

  • Finance a Major Purchase. If a new car or boat is in your future, you may want to compare payments.

  • Children's Education. Many people find a HELOC the most logical way to pay for their children's education. Exactly what I did when my son went to college and I saved a lot of money compared to any other option.

  • Property Purchase. If you are considering either an investment in income producing real estate or a vacation home, it may make more sense to unlock the equity in your home rather than move the cash from other investments which are doing well for you. Please see my pages on Investment Property or Vacation Homes for more information.

Learn more about the tax considerations of a fixed rate second mortgage

Read more about Fixed Rate Second Mortgage Closing Costs

Looking for commercial second mortgages?

I have included a page on how to calculate your qualification ratios.

I have included a page on documentation requirements.

Learn about the differences between home equity loans and lines

We offer you the ability to qualify and close into several fixed rate home equity loans which accommodate borrowers with non traditional income or asset situations. 

* I have included a section on the new Cash Flow ARMS. A LIBOR based product which gives you complete flexibility in managing your mortgage.

Learn more about Loan Modification. If you can not refinance, it may be the best way to save your home today.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your consumer and mortgage debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

Fixed Rate Second MortgagePrequalify for your Fixed Rate Second Mortgage

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Extensive consumer information on construction,remodeling, first time homebuyer,and no documentation mortgages.