A Second Mortgage for Low Rate Financing

Finance experts say that a second mortgage may be the best method of equity financing available today for homeowners. Listen to the experts and use your home equity wisely. A second mortgage is highly recommended consolidating debt and financing home improvements. We are highly regarded 2nd mortgage lenders because we follow through with our promises to applicants.

A 2nd mortgage loan is widely considered to be cost-effective financing tools to pay off high payments and ARM loans that are risking payment increases. Refinance credit accounts that you want and need to disappear!

A second mortgage is a proven form of financing for homeowners to get tax deductible funds for home repairs and refinancing. Our lenders can help you shop for the lowest rate and compare the program details for second mortgage refinance and cash out options.

Our second mortgage lending partners provides home equity loans and rewards borrowers with perfect credit with lower 2nd mortgage rates.

Even as the market has changed, we continue to provide bad credit second mortgage liens for consumers with impaired credit! Even if you have had a loan application rejected recently, our underwriters are worthy for you to get another chance.

How Does a Second Mortgage Work?

If you have equity in your house, you may think about using that equity by getting what is called a second mortgage. By getting another mortgage on your property, you can pull out thousands of dollars of equity and use it for whatever you like. Before you do that however, you should understand how a second mortgage works. You also should think about what you will do with the money. When you get a second mortgage, you can get a lump sum of money at once time that you can use for whatever you wish. Or, you can get a line of credit that gives you a pool of money you can withdraw from as you need it.

Let's take a look at the two most common types of second mortgages:

Home Equity Loan

This loan works much like your first mortgage. Let's say you have $50,000 of equity in your home. You can get a home equity loan for the full $50,000 at once, and pay it back over 15 or 30 years. Most often, this will be a low fixed rate loan with predictable payments. The advantage of getting this type of second mortgage is that you get all of the money at once. On the down side, you will be paying interest on that full $50,000 right away.

HELOC

This also is called a home equity line of credit, and it works pretty much like a credit card but it is secured by your property. This allows you to tap your equity as you need or want it. A HELOC has a variable interest rate, and you will pay interest only payments on the loan for the first 10 years.

An advantage of a HELOC is that you only pay interest on the money you are actually pulling out. A negative is that you will be paying interest only payments temporarily. Once the draw period ends after 10 years, you must pay back principal as well. This will cause your payments to jump. HELOCs also have variable interest rates so you do not always know exactly what your payment will be.

Whether you choose a home equity line or a home equity line of credit, you will need to qualify for it just as you did for your first mortgage. You may not need a new appraisal however, depending upon the lender. This can reduce your closing costs substantially.

As you are thinking about getting a second mortgage, be sure to consider the following too:

• Second mortgages can be a good source of low-interest cash because they are backed by your home. This means that a lender is willing to give you a much lower rate than you can get with an unsecured line of credit, such as a credit card.
• There are major tax advantages to using mortgages to borrow money; the primary advantage is that your mortgage interest can be deducted off of your taxes. This can substantially reduce your taxable income.
• Remember however that you are borrowing money on your primary residence. If you do not pay the mortgage, you will lose the home.
• You need to be sure that you are borrowing the money for a good reason. Some of the good reasons that people borrow money with a second mortgage is to do home improvements, pay for college or possibly to invest in wise investments.
• If you are borrowing money to pay off debt, this can be ok, but if you just run up the credit cards again, you are wasting your money. Worse, you are wasting money you will be paying interest on for many years.

As you are shopping for a second mortgage, we recommend that you get quotes from at least three lenders:

• A credit union or bank
• A mortgage broker with access to many lenders and loan programs
• An online lender

Remember that you do not need to go to your first mortgage lender to get a second mortgage. In fact, you may find a better deal if you shop around.

Taking out a second mortgage can be a really good or a really bad idea. It comes down to the rate you are paying, how much money you are borrowing, for how long and what it is being used for. If the money is being used for a purpose that offers a rate of return, such as a good investment, a home improvement or a college education, it can be a good idea.

However, if you are simply using the money to buy yourself toys that do not pay you back, it may not be a good idea. Just think over what you are using the money for and your financial goals with the money to decide if a second mortgage is for you.

We will connect you with 3 to 4 second mortgage lenders who offer the most competitive rates in the nation.

Revising your credit line or HELOC with a fixed interest mortgage is suggested if the interest rates vary. If your credit line rate is above "Prime", we suggest mortgage refinancing with one of our fixed rate 2nd mortgages. Ask your loan officer about the "Quick Fix" loan that features a streamlined mortgage process and limited closing costs.

We will connect you with 3 to 4 second mortgage lenders who offer the most competitive rates in the nation.

Revising your credit line or HELOC with a fixed interest mortgage is suggested if the interest rates vary. If your credit line rate is above "Prime", we suggest mortgage refinancing with one of our fixed rate 2nd mortgages. Ask your loan officer about the "Quick Fix" loan that features a streamlined mortgage process and limited closing costs.

Fixed Second Mortgage		Refinance Debt
	Second Mortgage w/ Fixed Rate
	Consolidate Adjustable Interest
	Home Equity Loans
	Refinancing High Rate Debt
Debt Consolidation 2nd's		Lower Payments

Select from loan products that were designed for refinancing your 1st mortgage or consolidating your 2nd mortgage. Talk to the Pros and Find Out Which Loan Is Right for You - Home Equity Loan or Cash Out Refinance?

Check current second mortgage rates now!

We can help find you the right residential financing options with 2nd mortgage loans for most types of credit! If you have been turned down lately, this is your second chance to access your home's equity and consolidate those bills that are becoming very irritating!

• Fixed Rate 2nd Mortgages
• Home Equity loans up to 125%
• Adjustable Rate Credit Lines

Second Mortgage Terms:	10, 15, 20, or 25-year re-payment schedules
Loan to Value:	90%, 100%, 125%
Credit Levels:	Excellent, Fair/Poor and Bad credit scores
Documentation:	Complete income (W2's and paystubs or Reduced Doc)
Mortgage Rates:	Call for today's rates or get a Free Rate Quote Click Here

Apply today and see for yourself that we may be the financing solution you've been looking for.

	NO Fees for Quotes!
	NO Obligation required!
	NO Equity Needed!
	Easy online form takes under 1 minute to complete!

** 2nd Loan Product Enhancements **

Second Loan Programs (HELOC, Fixed, Balloon 30/15) have been enhanced.

	Larger Loan Amounts
	Lower fica scores
	Use present appraised value

Apply Now for a Second Mortgage!

For More Second Mortgage Information:

• Why a 2nd Mortgage Makes Sense This Year
• 2nd Mortgage Loan Benefits
• 7 Keys for Home Equity Loans
• Why Americans Love Home Equity Loans and Credit Lines