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With the refinancing boom officially over, second mortgage loans are cooler than ever. Many homeowners have been blessed with low interest rate first mortgage loans that they want to keep. The need for cash didn’t disappear with the refinancing boom, so second mortgages and home equity loans will be the loans of choice for the next few years. Anyone who has a 30-year fixed-rate loan at less than 6% should keep their existing loan in tact and take out a second loan on their home when they need cash. The Federal Reserve has indicated that more rate hikes are coming, so if you’re a mortgage broker or lender, it’s time to brush up on your second mortgage product line, because people still need access to cash. , and there is no better way to achieve this.
home equity loan 125%
You don’t need any equity, and this loan program will actually allow you to increase the value in your home by up to 125%! These second mortgages are usually offered with fixed interest rates for repayment terms of 15, 20 or 25 years. If you have credit card debt, or high rate debt, this is an excellent loan to eliminate compound interest and save money! “It’s easy for a hardworking family to lower bill payments and get out of debt with no equity in their home,” said Sandy Sarconi, executive at IHE.
* Fixed interest rate second mortgage
* No mortgage insurance ever
* No equity second mortgage
declared income second mortgage
More and more people are seeking for low documentation loans. More and more people have become self-employed, and many prefer a simplified process.
* Declared Income Equity Loan
* No Income No Assets Second Mortgage
* No Income Verified Home Equity
* No Doctor Equity refinance
second mortgage credit line
Of course interest rates are variable. Yes the Fed has increased the key rate index eight times in the past few years, but people like the low down payments that only loans provide. People also like the flexibility of paying only interest on the money you have accessed. Where can you get the money waiting for you without paying unless you use the spend cash!
*Interest paid only
* Home Lines Of Credit
In 2006, often hesitantly, second mortgages emerged from the shadow of first mortgages, and evolved into preferred loans.
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