The Second Mortgage Banker has helped thousands of consumers find loan companies to get approved for 2nd mortgages for multiple purposes. Meet second mortgage lenders and bankers that go above and beyond consulting homeowners with our discounted cash out refinancing and fixed rate consolidation opportunities. Our refinancing team is committed to working closely with you in an effort to reduce your housing expenses.
Our customers enjoy the flexibility that our lending offers with our high level of financing expertise and our broad range of credit accepted with most of our 2nd mortgage products.
For nearly twenty years, the Second Mortgage Banker has been originating home equity loans and credit line in the United States. Our company was founded on the basic lending principals of extending credit to homeowners that have the ability to repay the loan. We developed quite a strong reputation as a second mortgage lender, because we have the tenacity to get the loan funded.
Over the years we have developed unique lending niches with specialty second mortgage products that become extremely popular in many areas of the country. Whether you need a fixed rate loan or a home equity line of credit, we are the banker to get it done for you online. Second mortgage lenders are not easily located since the subprime mortgage crash in 2007.
Welcome to the Second Mortgage Banker, an online portal for cash refinancing and 2nd mortgages.
How does your bank measure up for
2nd mortgage loans?
The Second Mortgage Banker has teamed up with the best financial planners and real estate investors in the industry to bring you truly unique 2nd loan products year in and year out. Homeowners have been treated to low rate refinancing opportunities because interest rates have declined to record levels.
Finance home improvements with a 2nd mortgage that gets you the money you need for modifying your primary residence. You may enjoy living in your home more and may even increase the property’s value in the process.
Home construction costs can add up, so make you get a large enough home equity credit line. With lines of credit you only are charged interest when you take out funds from your home equity account. Consider mortgage refinancing to fund your remodeling.
Consolidate high rate debts and save with a fixed rate second mortgage. Taking your revolving debts and throwing them into a fixed interest rate loan provide monthly savings and tax advantages.
Reversing the compounding interest into a fixed mortgage is a wise financial move. With fixed rate debt consolidation loans you can create a reasonable budget because the rates are locked. Ask about our 2nd mortgage that does not require equity.
2nd Mortgage Loans for Cash Back so that you can invest in your home, business or second property. With our home equity and 2nd mortgage liens you can finance home repairs, children’s education or start a new business with a little seed money from your home equity nest. 2nd mortgages are convenient financing avenues for people who would rather not go down the road to refinancing their 1st mortgage. Choose a line of credit or lump-sum loan for accessing secured money. You can always convert your line with home equity loan refinancing.
Clever financing is imperative for easy money. Timing the interest rate market can be challenging, so many borrowers play it safe with a fixed rate home mortgage because the payments never change.
Home Equity Programs
What are Second Mortgage loans?
When you keep your current mortgage and take out a second lien against your home and obtain cash or refinance existing mortgage loans or debt. A second mortgage is considered based on the difference between the present market value of the home and the amount borrowed against the home.
What Second Mortgage Rates and fee should we expect?
A second mortgage loan is usually competitively priced installment loans that are offered at low rates. Equity on home can be obtained at fixed or variable rates. Fixed rates- the payback installments are equal and you may not have to pay lump-sum amount at the time of final payment. And, variable or adjustable market rates are fluctuating with the market condition. Here you may have to pay off balloon amount at the time of amortization. Click here for a free quote.
What is the basic difference between 2nd mortgage loans and home equity line of credit?
2nd mortgage loans are home equity loans that feature a fixed rate. Home equity lines of credit, also called heloc are also 2nd mortgage liens but the interest rate is variable and revolves like a credit card. Both loans are tax deductible to $100,000.
How much of a loan do you qualify for?
Depending on income, credit score, and total loan to value will determine or dictate your loan amount limits for 2nd mortgages. Borrowing above 80% loan to value will increase the interest rates charged and loan limits will become a focus. We offer second mortgages up to one million dollars for full documentation borrowers up to 70% total loan to value. Our lending guidelines allow for loan amounts up to $500,000 for loans that do not exceed 80% loans to value, $250,00 for loans that do not exceed 90% loans to value and $150,00 for loans that do not exceed 100% total loan to value. 125% second mortgages are still possible by call for restrictions and current loan pricing. Find out which second mortgage program meets your financing needs.
Do you approve 2nd mortgages in all 50 states?
We offer 2nd mortgages and credit lines in 49 states. At this time, due to some state restrictions we are not extending 2nd loans in West Virginia. Texas home equity loans have unique guidelines and limitations, so check with your loan officer in regards to the current criteria for home equity programs in Texas.
Second Mortgage Specials
Revolving home equity credit lines (heloc) for flexible borrowing
Consolidate debt with fixed rate loans for refinancing variable credit card rates
• Compare rates for second mortgage loan programs and cash out refinancing
Pay for home improvements with a 2nd mortgage
Get Access to cash for almost any reason
Less paperwork required with no income verification loans
Since second mortgage refinancing is a major financial decision, we recommend discussing loan terms with a loan officer and a financial consultant that you trust.
Mortgage Resources: Fannie Mae creates foundation for conventional home loans that most lenders mirror. - Freddie Mac outlines conforming home mortgages that traditional mortgage companies follow. - Nationwide offers high LTV second mortgage refinance options that traditional lenders won't touch. – Federal Reserve – raises or cut key interest rates that drive the secondary market on wall street.
Corporate Links - This is not a commitment for a loan or an advertisement for credit as defined by paragraph 226.24 of regulation Z. We do not make loans but we offer quotes from lenders with no charge to consumers.