Second Home Mortgage Information?

Answer Many people cannot imagine getting a second mortgage immediately after they have gotten their first home loan. Applying for a mortgage can be a long and difficult process, and when it is completed ... Read More »

Top Q&A For: Second Home Mortgage Information

Is a home equity mortgage the same as a second mortgage?

Yes, a home equity loan IS a 2nd mortgage.Some people however, consider a "2nd mortgage" to be a closed-end fixed rate lump sum loan. While a "line of credit" is revolving and can be used over and... Read More »

How to Get a Second Mortgage on Your Home?

Many people turn to a second mortgage, also commonly known as a home equity line of credit or home equity loan, when they need to borrow money. The loan can be used for such things as paying off de... Read More »

Mortgage Definition of a Second Home?

Buying a second home provides a dream getaway location for many families, particularly locations on the coast or in the mountains away from the routine of daily life. However, new buyers need to un... Read More »

Can you take out a reverse mortgage on a second home?

Reverse mortgages cannot be taken out on second homes. This type of mortgage can only be taken out on the borrower's primary residence, which is where he or she lives most of the year.Source:Freedm... Read More »