Re: Second Mortgage2
Oct 19, 2017 10:50 pm
Many mortgage lenders are reducing the availability of second mortgage programs as the secondary market continues to grapple with credit issues, so you may find it much more difficult to obtain one these days. But second mortgages are still available, and can be found at a variety of banks and lenders and credit unions nationwide.
Sign in or Join to reply to this Topic
algernonUnderstanding mortgage broker calculations?Understanding mortgage broker calculations?
On the figures provided there, the net proceeds of borrowing (i,e. what goes towards paying for the house) is $296K. On top of that, there's an 'extra' $7.7K added on to…
becjarrettdaltonFiguring out what size mortgage we can financeFiguring out what size mortgage we can finance
You can mitigate some of the risk by considering a fixed rate - and in terms of affordability if the bank has already passed you through their calculators the next and…