A second mortgage is an additional loan on top of your existing mortgage that is put towards the same property. It can be very beneficial for those with larger expenses.
Getting a second mortgage from us, can help you save interest on your outstanding debt - while also providing you a good alternative to breaking your existing first mortgage and paying a hefty penalty.
When it comes to a second mortgage, Private Lenders are more concerned with property equity rather than credit scores and income, and are more flexible in their approval process as a result.
So you’re thinking about leveraging the equity on your home to obtain a loan. You can either apply for a home equity line of credit or a second mortgage. But which loan is right for you?
A consolidation loan is a loan used to manage your debt into one loan. Proceeds from one larger loan are used to pay off other smaller debts.