What is the difference between a mortgage and a second mortgage?

Answer A mortgage is a home loan. There are numerous types of home loans. However, the two most often procured are first and second mortgages. Each type of mortgage has different rules and regulations.Sig... Read More »

Top Q&A For: What is the difference between a mortgage and a...

What is the difference between a traditional& an FHA mortgage?

There are many different types of mortgages available in the marketplace today. Two of the most popular products are traditional or conventional mortgages and FHA mortgages. Both mortgage product... Read More »

What Is the Difference Between an APR and a Mortgage Rate?

When shopping for a mortgage loan, you'll see two different numbers used to represent interest rates. The mortgage rate is what the lender advertises; the annual percentage rate, or APR, is a more ... Read More »

What is the difference between refinancing and a second mortgage?

When people have an existing mortgage, they sometimes choose to refinance for a lower interest rate. If people need additional cash, they may turn to a cash-out refinance or a second mortgage.Types... Read More »

What is the difference between a mortgage&a lien?

A mortgage is when a home is pledged as security for a loan. Mortgages are also considered liens, but a lien is not a mortgage. Liens are a form of security interest granted over a particular type ... Read More »