Second Mortgage

Second mortgages are loans taken out against a home that has already been mortgaged. They can be an effective tool if you’re in need of emergency financial assistance.

A second mortgage is an alternative to refinancing your first mortgage, which enables you to increase the size of your loan by withdrawing more equity against your home. This can raise funds for whatever you need the money for, whether that’s paying off credit card debt or starting a small business.

However, the rates and conditions attached to that second mortgage will vary depending on the lender. For example, a credit score and income typically do not play an important role when qualifying for a second mortgage, unless dealing with an institutional lender.

Our Professionals would discuss/understand your current financial situation and advise you if this is the right solution for you.