Second Mortgage Solutions Mae Easy.
A second mortgage is an additional mortgage that is placed on a property that already has a 'first mortgage'. Second mortgages are also referred to as '2nd mortgages', are considered somewhat riskier than first mortgages since if the property goes into default, the first mortgage holder must be paid first. Due to this increased risk the interest rates for second mortgages are typically higher than those for first mortgages.
If you own at least 20% of the equity in your home, you will likely be approved for a second mortgage. A second mortgage is ideal when you need money to renovate your home or even make cash available for your business.
What's Next?
Get approved for your next mortgage in 3 simple steps
Fast, friendly guidance from your local mortgage team. We'll help you understand your options and move forward with confidence.
Answer a few quick questions
Tell us what your needs are... purchase, renewal, refinance, or debt consolidation, and we will map out the best next steps.
We compare mortgage options with many lenders
We shop rates and terms across multiple lenders, then explain the pros and cons in plain language so you can choose confidently.
Get pre-approved, shop smart
Once you are pre-approved, you can shop with confidence knowing your budget, your payment range, and your timeline.
Takes just a few minutes to start, no obligation, and a real person will guide you if you get stuck.