| SECOND MORTGAGE |
What Is A Second Mortgage |
A second mortgage is usually a good idea in order to keep a fixed payment when one knows the exact amount of money needed for a specific project. A Home Equity Line of Credit, similar to a second mortgage generally is more like a revolving credit account that one can draw off of. A second mortgage is usually based on a fixed rate while a HELOC is based on an adjustable rate. A second mortgage is tax deductible and keep a fixed payment over then term. A second mortgage is usually based on a 20 or 15 year term. We look forward to serving you.
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