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Home Equity Second Mortgage Loan                                                                                                                             

A home equity second mortgage loan has a fixed interest rate and disburses at closing. A home equity second mortgage loan allows you to take home equity out of a property. An interest only Home Equity Second Mortgage Loan will lower your mortgage payment. For difficult to verify income, a stated income Home Equity Second Mortgage Loan is available. A Home Equity Second Mortgage Loan with no closing costs is available as well. I am a mortgage broker specializing in home equity second mortgage loan products and I am happy to answer any email questions you may have about home equity second mortgage loans

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

Our lenders can lend up to 100% of the value of your home but please understand that the interest rate will be somewhat higher if your home equity second mortgage loan is over 90%(combined first trust and home equity loan) of the value of the property. Our lenders 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 Home Equity Second Mortgage Loan

• Debt Consolidation Home Equity Second Mortgage Loan. If your other 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 home equity loan 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.

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

I have included a page on documentation requirements.

Wet offer you the ability to qualify and close into several unique programs 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.

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.

New!

Prequalify for your Home Equity Second Mortgage Loan