Second Mortgage
Home Equity Loans and HELOC
Second mortgage typically refers to a secured mortgage that is subordinate to another on the same property. A property can have multiple liens against it. The order they are recorded are the order of their positions with the exception of tax liens. A tax lien will trump all liens on a property. We offer both Home Equity Loans and a HELOC.
- Home Equity Loan: A home equity loan can be a great way to consolidate debt or pay for major expenses. The product offers a fixed rate, a steady repayment schedule, and potential tax advantages. A fixed rate with a predictable monthly payment can help you budget as you work toward your financial goals.
- HELOC: This mortgage lets you use the equity in your home on a “as needed” basis. By borrowers funds against your homes equity when you need it, a HELOC can be an ideal product if your paying for a major expense or simply want to have quick access to emergency funds.