Get Your Second Mortgage Rate Quote
Create your Newfi Loan Center account below and start your Second Mortgage journey today!
Create your Newfi Loan Center account below and start your Second Mortgage journey today!
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What are the Benefits of a Second Mortgage?
Because there could be more equity in your home than ever before, it’s a great time to take advantage of that passive equity and make it work for your current needs. With Second Mortgage, borrowers take a second loan that will have its own interest rate. This means you get to keep your great rate on your first mortgage!
With inflation on the rise, it’s more important than ever to create a steady and reliable cash flow. A Second Mortgage can help borrowers keep money in their pockets, pay off their debts, and be prepared for their landmark life moments!
Second Mortgage have better interest rates than traditional credit cards. Lower interest rates can help you reduce interest payments overtime and relieve stressful credit card payments
Why Use a Second Mortgage?
What is a Second Mortgage?
A Second Mortgage is a loan borrowers take out to get access to their home’s equity. Second Mortgages are independent of a borrowers first mortgage. They are a second lien on your home, with its own interest rate and terms. Unlike a Home Equity Line of Credit (HELOC), Second Mortgages are paid out in one disbursement.
What are Second Mortgage Rates?
Current Second Mortgage rates starting in the 8’s! Rates are subject to change. Your exact rates depend on the equity in your home, the interest rate you qualify for, and the term you select. Contact us to review your options and calculate your payment.
How Does a Second Mortgage Work?
A Second Mortgage is a type of home equity loan option that allows borrowers to take out an additional mortgage using the equity in your home. Second Mortgages are entirely independent of a borrowers first mortgage loan — meaning it has its own loan terms and interest rate — and is an additional lien on the borrower’s property.