Second Mortgage Home Loan

Are you thinking of doing some major home improvements, or do you have to finance a college degree? Then it may be worth your while considering taking out a second mortgage.

A second mortgage is a simple interest loan which has second place on the property title. It has no effect on your existing first mortgage. A second mortgage is also known as a home equity loan, an equity line of credit, a home improvement loan or a debt consolidation loan. You can negotiate loans up to 125% of the value of your home, so you do not necessarily have to have equity left in your home.

There are two basic types of loans you can negotiate as second mortgages. These are equity seconds, which use the equity you have in your home as the basis for a loan. This gives you a good rate of interest as the lender has a call on your property. The other category of loan is called over-equity seconds, and because the loan is not secured completely on equity, it will attract a greater rate of interest.

Many people use a second mortgage to secure a line of credit, using money as they need it and repaying it as they can. This allows much greater flexibility, and of course you pay interest only on the money you have borrowed.

You may find that the interest on your second mortgage is tax deductible, making this a really effective way of borrowing money. If you need to borrow a sum of money, a second mortgage must be your first consideration.

GuideToLenders

You found the perfect home — now you need the perfect loan. Imagine having the best mortgage lenders competing for your business. At GuideToLenders.com, up to four lenders will provide you with the best rates and options available. Whether you have excellent credit or have declared bankruptcy, our lenders are eager for your business. Different types of first mortgages offered are 30-year fixed, 15-year fixed, adjustable rate, and interest only. It takes less than a minute to apply, so get started right now.

MoneyNest

Shopping for a loan has never been easier. MoneyNest is an online loan marketplace that allows you to send a single application to over 400 lenders. Submit your application and get access to low rates on a second mortgage, refinance, home equity line of credit, or a home improvement or debt consolidation loan. Get up to 4 FREE quotes.

Countrywide Home Loans

Qualified homeowners – even those with less-than-perfect credit – may now access their home’s equity to get cash, consolidate debts, and lower monthly expenses. Countrywide Home Loans may also help applicants who are self-employed or have high consumer debt. We offer competitively priced home loan programs, including fixed rate, adjustable rate, refinance and home equity loans.

INVESTools

The advantage of having an easy-to-follow, step-by-step investing process with easy-to-use Web-based tools is that you rely on facts to make decisions – not emotions. The benefits are less stress, better results and, dare we say it, fun.

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Financial Entrepreneur

I'm passionate about business and finance. After working 10 years for an international organisation, earning more money than most people would need to have very good life, I decided to jump on my own life and businesses. My main incomes are from my financial investments and businesses.

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