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Monroe Mortgage Advisor revealsSecond mortgages: what you need to know…

5 Views· 06 Sep 2024
Benjamin Hirsch
Benjamin Hirsch
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⁣ Ok, today we are going to review everything you need to know about second mortgages… What is a second mortgage? A second mortgage is an additional loan taken out on a property that’s already mortgaged. Second mortgages are riskier for lenders than first mortgages because they’re in second position on your property's title. As a result, the interest rate on second mortgages is higher. Here’s what you need to know about second mortgages…⁣…⁣If you are looking for a top-notch mortgage advisor in Monroe call us at, 646-251-5746

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