Monroe Mortgage Advisor revealsSecond mortgages: what you need to know…
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06 Sep 2024
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Mortgage
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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